[Form 4] Vericel Corp Insider Trading Activity

Rhea-AI Filing Summary

Vericel Corp director Alan L. Rubino exercised stock options to acquire 15,000 shares of common stock at $2.76 per share and chose to hold all of these shares. These options were originally granted on May 4, 2016 and would otherwise have expired on May 4, 2026. Following the exercise, Rubino directly owns 60,994 shares of Vericel common stock, and the exercised option grant has been fully used with no remaining derivative position from this award.

Insider Trade Summary

15,000 shares exercised/converted

Mixed 2 txns

Insider Rubino Alan L

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	15,000	$0.00	--
Exercise	Common Stock	15,000	$2.76	$41K

Holdings After Transaction: Stock Option (Right to Buy) — 0 shares (Direct); Common Stock — 60,994 shares (Direct)

Footnotes (1)

1. The Reporting Person has elected to exercise and hold these shares at this time. These options, representing the right to purchase 15,000 shares, were originally granted on May 4, 2016, becoming exercisable in equal monthly installments from June 4, 2016 through May 4, 2017, contingent upon continued service to the Company. These options, which were awarded on May 4, 2016, would otherwise expire and become forfeitable on May 4, 2026.

Form 4 Insider Transactions: What Each Field Means →

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^*

Rubino Alan L

(Last) (First) (Middle)

C/O VERICEL CORPORATION

64 SIDNEY STREET

(Street)

CAMBRIDGE MASSACHUSETTS 02139

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Vericel Corp [ VCEL ]

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)
03/25/2026

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	03/25/2026		M		15,000(1)	A	$2.76	60,994	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 Option (Right to Buy)	$2.76	03/25/2026		M		15,000		(2)	(3)	Common Stock	15,000	$0	0	D

Explanation of Responses:

1. The Reporting Person has elected to exercise and hold these shares at this time.

2. These options, representing the right to purchase 15,000 shares, were originally granted on May 4, 2016, becoming exercisable in equal monthly installments from June 4, 2016 through May 4, 2017, contingent upon continued service to the Company.

3. These options, which were awarded on May 4, 2016, would otherwise expire and become forfeitable on May 4, 2026.

	/s/ Sean Flynn, as Attorney-in-Fact for Alan Rubino	03/27/2026
	** 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)