IMMUCELL CORP /DE/ — Director's Dealing 2006

Dec 29, 2006

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: IMMUCELL CORP /DE/ (ICCC)
CIK: 0000811641
Period of Report: 2006-12-20

Reporting Person: Bruce Robert C (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock, $0.10 par value	15000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-qualified stock option (Right to Buy)	$5.80	2011-12-20	Common Stock (15000)		Direct

Footnotes

F1: This option vests according to the following schedule, provided that Optionee is re-elected as a director at each such meeting: (i) 5,000 shares on and after the 2007 Annual Meeting of Shareholders; (ii) an additional 5,000 shares on and after the 2008 Annual Meeting of Shareholders; and (iii) the remaining 5,000 shares on and after the 2009 Annual Meeting of Shareholders.