XCel Brands, Inc. — Director's Dealing 2020

May 13, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XCel Brands, Inc. (XELB)
CIK: 0001083220
Period of Report: 2020-05-11

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-11	Common Stock	P	1240	$0.71	Acquired	1407019	Direct
2020-05-12	Common Stock	P	2433	$0.71	Acquired	1409452	Direct
2020-05-13	Common Stock	P	5205	$0.66	Acquired	1414657	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	526283	Indirect

Footnotes

F1: Represents shares held by the Irrevocable Trust of Rose Dempsey, of which Mr. D'Loren has sole voting and dispositive power.