XCel Brands, Inc. — Director's Dealing 2012

Nov 26, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XCel Brands, Inc. (XELB)
CIK: 0001083220
Period of Report: 2012-11-21

Reporting Person: Burroughs Seth (See Remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-21	Common Stock	F	20776	$3.00	Acquired	256360	Direct

Footnotes

F1: Represents surrender of shares to the issued in payment of tax liability incident to the vesting of restricted stock.

F2: Represents Fair Market Value as determined by the Board of Directors.