XCel Brands, Inc. — Director's Dealing 2014

May 19, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XCel Brands, Inc. (XELB)
CIK: 0001083220
Period of Report: 2014-05-15

Reporting Person: Haran James (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-15	Common Stock	A	75000	—	Acquired	514003	Direct

Footnotes

F1: Represents shares of restricted stock awarded pursuant to a restricted stock award agreement, which vests as to 50% of the shares on each of May 31, 2015 and May 31, 2016, provided that Mr. Haran may extend the vesting date as to all or a portion of the shares to one or more times, in six-month increments, at his discretion.