XCel Brands, Inc. — Director's Dealing 2025

Mar 5, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XCel Brands, Inc. (XELB)
CIK: 0001083220
Period of Report: 2025-03-03

Reporting Person: Burroughs Seth (EVP of BD Treasurer Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-03-03	Common Stock	A	40132	$0.2829	Acquired	470215	Direct
2025-03-03	Common Stock	F	22375	$0.2829	Disposed	447840	Direct

Footnotes

F1: Represents shares awarded by the issuer pursuant to the reporting person's employment agreement in lieu of cash salary.

F2: Represents shares surrendered to the issuer in payment of withholding tax liability increment to the stock award.