Injection of CO2 for geologic carbon sequestration (GCS) into deep sedimentary formations involves fluid pressure increases that engage hydromechanical processes that can cause seismicity by activation of existing faults. In this work, we use a coupled multiphase fluid flow and geomechanical simulator to model spatiotemporal fluid pressure and stress changes in order to study the poroelastic effect of CO2 injection on faults in crystalline basement rock below the injection zone. The seismicity rate along features interpreted to be basement faults is modeled using Dieterich’s rate-and-state earthquake nucleation model. The methodology is applied to microseismicity detected during CO2 injection into the Mount Simon formation during the Illinois Basin – Decatur Project. The modeling accurately captures an observed reduction in seismicity rate when the injection in the second well was into a slightly shallower zone above the base of the Mount Simon formation. Moreover, the modeling shows that it is important to consider poroelastic stress changes, in addition to fluid pressure changes for accurately modeling of the observed seismicity rate.