ImmuCell director exercises 25,000 stock options

ImmuCell director Michael F. Brigham reported a routine stock option exercise.

Rhea-AI Filing Summary

ImmuCell director Michael F. Brigham reported a routine stock option exercise. He exercised options for 25,000 shares of Common Stock at $5.84 per share, using previously owned shares to pay the exercise price. In connection with this, 24,052 shares were surrendered to the company to satisfy the option exercise price or related obligations. After these transactions, he directly holds 205,700 shares of ImmuCell Common Stock.

Insider Trade Summary

25,000 shares exercised/converted

Exercise 3 txns

Insider BRIGHAM MICHAEL F

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Options (right to buy)	25,000	$0.00	$0.00
Exercise	Common Stock, par value $.01 per share	25,000	$5.84	$146K
Exercise Price or Tax Liability	Common Stock, par value $.01 per share	24,052	$6.07	$146K

Holdings After Transaction: Stock Options (right to buy) — 0 contracts (Direct); Common Stock, par value $.01 per share — 205,700 shares (Direct)

Footnotes (2)

1. F1. Number of shares resulting from stock-for-stock exercise of stock option. The Reporting Person surrendered previously owned shares in full payment of the exercise price for that option.
2. F2. Number of shares surrendered to the Issuer in payment of the exercise price of the option.

FAQ

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What insider transaction did ImmuCell (ICCC) director Michael Brigham report?

Michael F. Brigham reported a routine stock option exercise for 25,000 shares of ImmuCell Common Stock at $5.84 per share. The transaction reflects conversion of options into shares rather than an open-market purchase or sale.

Did Michael Brigham buy or sell ImmuCell (ICCC) shares on the open market?

The filing shows no open-market buy or sell. Brigham exercised stock options and then surrendered 24,052 shares back to ImmuCell to cover the option exercise price or related obligations, a non-market, mechanical transaction type.

How many ImmuCell (ICCC) shares did Michael Brigham hold after the Form 4 transaction?

Following the reported transactions, Michael F. Brigham directly owned 205,700 shares of ImmuCell Common Stock. This figure reflects his position after exercising 25,000 options and surrendering 24,052 shares to the company in connection with the exercise.

What does the F transaction code mean in the ImmuCell (ICCC) Form 4 filing?

The F code indicates shares were surrendered to the issuer to pay the exercise price or tax liability. In this case, 24,052 ImmuCell Common Stock shares were delivered back to the company, rather than sold on the open market for cash proceeds.

Were any stock options remaining for Michael Brigham after this ImmuCell (ICCC) Form 4?

The derivative section shows options for 25,000 shares were exercised and no remaining derivative positions are listed. This indicates that, based on the data in this filing, the reported stock options were fully exercised with no remaining balance disclosed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/24/2026 - 07:57 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BRIGHAM MICHAEL F

(Last) (First) (Middle)

C/O IMMUCELL CORPORATION

56 EVERGREEN DRIVE

(Street)

PORTLAND MAINE 04103

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
IMMUCELL CORP /DE/ [ ICCC ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $.01 per share	03/20/2026		M		25,000(1)	A	$5.84	229,752	D
Common Stock, par value $.01 per share	03/20/2026		F		24,052(2)	D	$6.07	205,700	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (right to buy)	$5.84	03/20/2026		M			25,000	02/10/2017	02/10/2027	Common Stock	25,000	$0	0	D

Explanation of Responses:

1. Number of shares resulting from stock-for-stock exercise of stock option. The Reporting Person surrendered previously owned shares in full payment of the exercise price for that option.

2. Number of shares surrendered to the Issuer in payment of the exercise price of the option.

	/s/ Timothy C. Fiori Attorney-in-Fact	03/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)