Vericel Corp — Director's Dealing 2026

Feb 26, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Vericel Corp (VCEL)
CIK: 0000887359
Period of Report: 2026-02-24

Reporting Person: Hopper Jonathan Mark (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-24	Common Stock	M	350	—	Acquired	71377	Direct
2026-02-24	Common Stock	M	3150	—	Acquired	74527	Direct
2026-02-24	Common Stock	F	1335	$38.09	Disposed	73192	Direct
2026-02-24	Common Stock	M	1500	—	Acquired	74692	Direct
2026-02-24	Common Stock	M	1500	—	Acquired	76192	Direct
2026-02-24	Common Stock	F	636	$38.25	Disposed	75556	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-02-24	Restricted Stock Unit	$	M	350	Acquired		Common Stock (350)	Direct
2026-02-24	Restricted Stock Unit	$	M	3150	Acquired		Common Stock (3150)	Direct
2026-02-24	Restricted Stock Unit	$	M	1500	Acquired		Common Stock (1500)	Direct
2026-02-24	Restricted Stock Unit	$	M	1500	Acquired		Common Stock (1500)	Direct

Footnotes

F1: The Restricted Stock Units (RSUs) converted to phantom stock units and are deferred under the Vericel Corporation Deferred Compensation Plan. The units will be payable only in shares of Common Stock upon the Reporting Person's elected Benefit Distribution Date.

F2: The shares of common stock were acquired by the Reporting Person as a result of the vesting of RSUs granted to the Reporting Person on February 20, 2025. The remaining RSUs will vest on February 20, 2027, February 20, 2028, and February 20, 2029, respectively. Upon the vesting of RSUs granted to the Reporting Person on February 20, 2025, the Reporting Person deferred the receipt of 350 shares of Common Stock and instead received 350 shares of Phantom Stock pursuant to the Vericel Corporation Deferred Compensation Plan.

F3: 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).

F4: The shares of common stock were acquired by the Reporting Person as a result of the vesting of RSUs granted to the Reporting Person on February 20, 2025. The remaining RSUs will vest on February 20, 2027, February 20, 2028, and February 20, 2029, respectively.

F5: These shares were withheld by the Issuer to satisfy the tax withholding requirements in connection with the vesting of RSUs.

F6: The shares of common stock were acquired by the Reporting Person as a result of the vesting of RSUs granted to the Reporting Person on February 22, 2024. The remaining RSUs will vest on February 22, 2027, and February 22, 2028, respectively. Upon the vesting of RSUs granted to the Reporting Person on February 22, 2024, the Reporting Person deferred the receipt of 1,500 shares of Common Stock and instead received 1,500 shares of Phantom Stock pursuant to the Vericel Corporation Deferred Compensation Plan.

F7: The shares of common stock were acquired by the Reporting Person as a result of the vesting of RSUs granted to the Reporting Person on February 22, 2024. The remaining RSUs will vest on February 22, 2027, and February 22, 2028, respectively.

F8: Each RSU represents a contingent right to receive one share of common stock of Vericel Corporation.

F9: No expiration date for this type of award.

F10: The Fair Market Value of the vested derivative securities is $38.09 per share.

F11: The Fair Market Value of the vested derivative securities is $38.25 per share.