-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 GGRoTBgkxgETAmFjgyRQD/6mCLFAt5YahBnCT7tq9G2B0ag4ro+XLVL00P9+zTX/
 CY/6aMfJRRnT+26NqwAWZA==

<SEC-DOCUMENT>0001144204-10-000105.txt : 20100104
<SEC-HEADER>0001144204-10-000105.hdr.sgml : 20100101
<ACCEPTANCE-DATETIME>20100104140305
ACCESSION NUMBER:		0001144204-10-000105
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20091230
FILED AS OF DATE:		20100104
DATE AS OF CHANGE:		20100104

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GARR RICHARD
		CENTRAL INDEX KEY:			0001386043

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33672
		FILM NUMBER:		10501351

	MAIL ADDRESS:	
		STREET 1:		9700 GREAT SENECA HIGHWAY
		STREET 2:		STE 240
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Neuralstem, Inc.
		CENTRAL INDEX KEY:			0001357459
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				522007292
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		9700 GREAT SENECA HIGHWAY
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
		BUSINESS PHONE:		3013664841

	MAIL ADDRESS:	
		STREET 1:		9700 GREAT SENECA HIGHWAY
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v170332_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-12-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001357459</issuerCik>
        <issuerName>Neuralstem, Inc.</issuerName>
        <issuerTradingSymbol>CUR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001386043</rptOwnerCik>
            <rptOwnerName>GARR RICHARD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9700 GREAT SENECA HIGHWAY</rptOwnerStreet1>
            <rptOwnerStreet2>STE 240</rptOwnerStreet2>
            <rptOwnerCity>ROCKVILLE</rptOwnerCity>
            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>20850</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2009-12-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>189111</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.65</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1413195</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The shares were issued in consideration for the payment of reporting person's deferred 2008 bonus in the amount of $312,033.
  The shares are subject to resale restrictions and may not be sold until such time as: (i) Reporting Person is no longer an
 employee of the Issuer,  or (ii) the occurance of a change in control of the Issuer.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Richard Garr</signatureName>
        <signatureDate>2009-12-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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