XCel Brands, Inc. — Director's Dealing 2017

Sep 18, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XCel Brands, Inc. (XELB)
CIK: 0001083220
Period of Report: 2017-09-11

Reporting Person: HILCO TRADING, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-09-11	Common Stock	P	300	$2.95	Acquired	666967	Indirect
2017-09-12	Common Stock	P	100	$2.90	Acquired	667067	Indirect
2017-09-13	Common Stock	P	200	$2.95	Acquired	667267	Indirect
2017-09-13	Common Stock	P	200	$2.90	Acquired	667467	Indirect
2017-09-13	Common Stock	P	300	$2.85	Acquired	667767	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1000000	Indirect

Footnotes

F1: Jeffrey Hecktman is the majority owner of Hilco Trading, LLC ("Hilco Trading") and may direct the disposition of the shares beneficially owned by Hilco Trading. Mr. Hecktman hereby disclaims beneficial ownership of the reported shares directly held by Hilco Trading except to the extent of his pecuniary interest therein.

F2: The reported shares of Common Stock are held directly by The H Company IP, LLC ("H Company"). House of Halston, LLC ("Halston") is the parent company of H Company and may be deemed to share beneficial ownership of the reported shares by virtue of its ability to direct the business and investment decisions of H Company. The H Investment Company, LLC ("H Investment") is the controlling member of Halston and has the ability to direct the disposition of the reported shares; therefore, H Investment may be deemed to beneficially own the reported shares.

F3: (Continued from Footnote 2) Hilco Brands, LLC ("Hilco Brands"), in its capacity as a member of the Board of Managers of H Investment, has the ability to direct the management of H Investment's business, including the power to direct the disposition of the reported shares; therefore, Hilco Brands may be deemed to share indirect beneficial ownership of the reported shares. Hilco Trading, as the parent company of Hilco Brands, may direct the disposition of the reported shares. Mr. Hecktman hereby disclaims beneficial ownership of the reported shares directly held by H Company, except to the extent of his pecuniary interest therein.