HEXCEL CORP /DE/ — Director's Dealing 2018

May 16, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEXCEL CORP /DE/ (HXL)
CIK: 0000717605
Period of Report: 2018-05-11

Reporting Person: Merlot Thierry (See Remarks)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-11	Dividend Equivalent Rights	$	A	2.75	Acquired		Common Stock (2.75)	Direct
2018-05-11	Dividend Equivalent Rights	$	A	2.39	Acquired		Common Stock (2.39)	Direct

Footnotes

F1: The dividend equivalent rights ("DERs") accrued with respect to restricted stock units ("RSUs") previously granted to the Reporting Person. Each DER represents a contingent right to receive one share of Issuer common stock upon delivery of the related RSUs to the Reporting Person.

F2: The RSUs to which the DERs relate vest ratably on the first three anniversaries of the date of grant and are delivered to the Reporting Person following such dates.