FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Carter Kenneth C

2. Date of Event Requiring Statement (MM/DD/YYYY)
12/12/2018 

3. Issuer Name and Ticker or Trading Symbol

Neuralstem, Inc. [CUR]

(Last)        (First)        (Middle)

20271 GOLDENROD LANE, 2ND FLOOR

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                          _____ 10% Owner
___X___ Officer (give title below)        _____ Other (specify below)
Executive Chairman /

(Street)

GERMANTOWN, MD 20876      

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed(MM/DD/YYYY)

 

6. Individual or Joint/Group Filing(Check Applicable Line)

_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person


Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(MM/DD/YYYY)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date ExercisableExpiration DateTitleAmount or Number of Shares
Common Stock Purchase Option (1)1/1/2019 12/12/2028 Common Stock 156213 $8.50 D  

Explanation of Responses:
(1) Represents an inducement stock option grant issued pursuant to reporting person's employment agreement with the issuer on December 12, 2018 for 40,000 shares (with such number of shares adjusted pursuant to a reverse stock split that occurred on July 17, 2019). As a result of certain anti-dilution features of the option, the number of shares underlying the option was adjusted and increased to a total of 156,213. The option vests (i) 25% on January 1, 2019, (ii) 12.5% on July 1, 2019, (iii) 12.5% on January 1, 2021, subject to continuous full-time employment, and (iv) 50% upon the achievement of performance based milestones.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Carter Kenneth C
20271 GOLDENROD LANE, 2ND FLOOR
GERMANTOWN, MD 20876
X
Executive Chairman

Signatures
/s/ Kenneth Carter, PhD10/11/2019
**Signature of Reporting PersonDate

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