XCel Brands, Inc. — Director's Dealing 2018

Nov 21, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XCel Brands, Inc. (XELB)
CIK: 0001083220
Period of Report: 2018-11-21

Reporting Person: D LOREN ROBERT W (Director, CEO and Chairman, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-11-21	Common Stock	F	94524	$2.30	Disposed	1180783	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	526283	Indirect

Footnotes

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

F2: Represents the fair market value of the shares surrendered.

F3: Represents shares held by the Irrevocable Trust of Rose Dempsey, of which Mr. D'Loren has sole voting and dispositive power.