Vericel director Zerbe sells 5,500 shares

Q: How many VCEL shares did Robert L. Md Zerbe sell, and at what prices?

Robert L. Md Zerbe sold 5,500 shares in three transactions on November 4 and November 5, 2026. He sold 2,500 shares at $45.40 on November 4, then 500 shares at $55.00 and 2,500 shares at $51.67 on November 5. The sales were automatic under a Rule 10b5-1 trading plan adopted May 19, 2026.

Q: How many VCEL options did the director exercise, and at what price?

Robert L. Md Zerbe exercised options for 2,500 shares on November 4 and options for 500 and 2,500 shares on November 5, at $13.05 per share. The options were originally granted on May 2, 2018 and became exercisable in equal monthly installments over one year, contingent upon continued service to Vericel.

A Vericel director's option exercises at $13.05 per share coincided with automatic sales under a plan adopted May 19, 2026.

Available on EDGAR 11/06/2026 - 04:06 PM EST Accepted by SEC EDGAR 11/06/2026 - 04:05 PM EST

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Rhea-AI Filing Summary

Vericel Corp (VCEL) director Robert L. Md Zerbe exercised options for 5,500 shares at $13.05 per share on November 4 and 5, 2026, and sold 5,500 shares in three transactions on those dates. The sales were automatic under a Rule 10b5-1 trading plan adopted May 19, 2026; sale prices were $45.40, $55.00 and $51.67 per share.

Insider Trade Summary 10b5-1

Exercise and Sale: 5,500 shares ($198K approx. pre-tax spread)

Exercise and Sale 9 txns

Insider ZERBE ROBERT L MD

Role Director

Sold 5,500 shs ($270K)

Approx. gross sale proceeds $270K

Approx. exercise cost $72K

Approx. pre-tax spread $198K

Share of Position Sold 14.3%

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy) ^F2	500	$0.00	$0.00
Exercise	Stock Option (Right to Buy) ^F2	2,500	$0.00	$0.00
Exercise	Common Stock	500	$13.05	$7K
Sale	Common Stock ^F1	500	$55.00	$28K
Exercise	Common Stock	2,500	$13.05	$33K
Sale	Common Stock ^F1	2,500	$51.67	$129K
Exercise	Stock Option (Right to Buy) ^F2	2,500	$0.00	$0.00
Exercise	Common Stock	2,500	$13.05	$33K
Sale	Common Stock ^F1	2,500	$45.40	$114K

Holdings After Transaction: Stock Option (Right to Buy) — 11,500 contracts (Direct); Common Stock — 32,995 shares (Direct)

Holdings Before and After: Common Stock, 32,995 to 32,995 shares (Direct)

Other Insiders: 2 other insiders reported open-market sales of this stock in the 30 days up to this filing.

Footnotes (2)

F1. 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 May 19, 2026.
F2. These options, representing the right to purchase a total of 17,500 shares, were originally granted on May 2, 2018, and became exercisable in equal monthly installments over the course of one year, contingent upon continued service to the Company.

Key Figures

Options exercised: 5,500 shares Exercise price: $13.05 per share Shares sold: 2,500 shares +2 more

5 metrics

Options exercised 5,500 shares November 4 and November 5, 2026

Exercise price $13.05 per share Option exercises on November 4 and November 5, 2026

Shares sold 2,500 shares November 4, 2026, at $45.40 per share

Shares sold 500 shares November 5, 2026, at $55.00 per share

Shares sold 2,500 shares November 5, 2026, at $51.67 per share

Key Terms

Rule 10b5-1 trading plan, exercisable in equal monthly installments, contingent upon continued service

3 terms

Rule 10b5-1 trading plan regulatory

"Rule 10b5-1 trading plan adopted by the reporting person on May 19, 2026"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

exercisable in equal monthly installments technical

"became exercisable in equal monthly installments over the course of one year"

contingent upon continued service technical

"contingent upon continued service to the Company"

FAQ

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How many VCEL shares did Robert L. Md Zerbe sell, and at what prices?

Robert L. Md Zerbe sold 5,500 shares in three transactions on November 4 and November 5, 2026. He sold 2,500 shares at $45.40 on November 4, then 500 shares at $55.00 and 2,500 shares at $51.67 on November 5. The sales were automatic under a Rule 10b5-1 trading plan adopted May 19, 2026.

How many VCEL options did the director exercise, and at what price?

Robert L. Md Zerbe exercised options for 2,500 shares on November 4 and options for 500 and 2,500 shares on November 5, at $13.05 per share. The options were originally granted on May 2, 2018 and became exercisable in equal monthly installments over one year, contingent upon continued service to Vericel.

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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^*

ZERBE ROBERT L MD

(Last)

(First)

(Middle)

C/O VERICEL CORPORATION

25 BLUE SKY DRIVE

(Street)

BURLINGTON

MASSACHUSETTS

01803

(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)
11/04/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/04/2026		M		2,500	A	$13.05	35,495	D
Common Stock	11/04/2026		S		2,500	D⁽¹⁾	$45.4	32,995	D
Common Stock	11/05/2026		M		500	A	$13.05	33,495	D
Common Stock	11/05/2026		S		500	D⁽¹⁾	$55	32,995	D
Common Stock	11/05/2026		M		2,500	A	$13.05	35,495	D
Common Stock	11/05/2026		S		2,500	D⁽¹⁾	$51.67	32,995	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$13.05	11/04/2026		M		2,500		⁽²⁾	05/02/2028	Common Stock	2,500	$0	5,000	D
Stock Option (Right to Buy)	$13.05	11/05/2026		M		500		⁽²⁾	05/02/2028	Common Stock	500	$0	4,500	D
Stock Option (Right to Buy)	$13.05	11/05/2026		M		2,500		⁽²⁾	05/02/2028	Common Stock	2,500	$0	2,000	D

Explanation of Responses:

1. 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 May 19, 2026.

2. These options, representing the right to purchase a total of 17,500 shares, were originally granted on May 2, 2018, and became exercisable in equal monthly installments over the course of one year, contingent upon continued service to the Company.

	/s/ Sean Flynn, as Attorney-in-Fact for Robert Zerbe	11/06/2026
	** 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)

Source: View Original Filing on SEC EDGAR