[Form 4] Vericel Corp Insider Trading Activity

Rhea-AI Filing Summary

Vericel (VCEL) reported an insider transaction by Chief Operating Officer Michael Halpin. On 11/06/2025, he exercised 7,358 stock options at $16.66 per share and sold 7,358 common shares at $40.47, with the sale executed under a Rule 10b5-1 trading plan adopted on November 19, 2024.

Following the transactions, Halpin directly beneficially owned 15,932 common shares. His remaining derivative holdings included 58,892 stock options. Footnotes note prior shares acquired under the company’s 2015 Employee Stock Purchase Plan.

Insights

Insider transactions analyst

Routine Form 4: option exercise and sale under 10b5-1 plan.

The COO exercised $16.66 options for 7,358 shares and sold the same number at $40.47 on 11/06/2025. The sale was conducted pursuant to a pre-established Rule 10b5-1 plan, indicating a pre-arranged framework for executing trades.

Post-trade, direct beneficial ownership is 15,932 common shares, with 58,892 options remaining. Activity reflects personal portfolio management under a structured plan; actual market impact depends on trade size relative to average volume, which is not provided here.

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).

X

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^*

Halpin Michael

(Last) (First) (Middle)

64 SIDNEY STREET

(Street)

CAMBRIDGE MA 02139

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/06/2025

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

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 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	11/06/2025		M		7,358	A	$16.66	23,290(1)	D
Common Stock	11/06/2025		S		7,358	D(2)	$40.47	15,932(1)	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)	$16.66	11/06/2025		M		7,358		(3)	02/06/2029	Common Stock	7,358	$0	58,892	D

Explanation of Responses:

1. These shares include shares acquired pursuant to the Issuer's 2015 Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).

2. The sales reported in this Form 4 were effected by an automatic sale pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 19, 2024.

3. These options, representing the right to purchase 76,250 shares, became exercisable in equal quarterly installments, contingent upon continued service to the Company, with the first vesting date on May 6, 2019, which was one quarter after the date on which the option was granted.

	/s/ Sean Flynn, as Attorney-in-Fact for Michael Halpin	11/10/2025
	** 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.

FAQ

What insider transaction did Vericel (VCEL) disclose?

The COO exercised 7,358 options at $16.66 and sold 7,358 shares at $40.47 on 11/06/2025.

Was the Vericel (VCEL) sale under a 10b5-1 plan?

Yes. The sale was executed pursuant to a Rule 10b5-1 trading plan adopted on November 19, 2024.

How many Vericel (VCEL) shares does the COO own after the trade?

Following the transactions, he directly beneficially owned 15,932 common shares.

What derivative holdings remain for the Vericel (VCEL) COO?

He reported 58,892 stock options remaining after the transaction.

What were the prices involved in the Vericel (VCEL) Form 4?

Option exercise price: $16.66 per share; sale price: $40.47 per share.

What is the role of the reporting person at Vericel (VCEL)?

He is the company’s Chief Operating Officer.