Howard M. Liebman - 03 Dec 2025 Form 4 Insider Report for XCel Brands, Inc. (XELB)

Role: Director
Signature: /s/ Howard Liebman
Issuer symbol: XELB
Transactions as of: 03 Dec 2025
Net transactions value: $0
Form type: 4
Filing time: 05 Dec 2025, 20:43:06 UTC
Previous filing: 30 May 2025
Next filing: 06 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
LIEBMAN HOWARD M	Director	C/O XCEL BRANDS, INC., 550 SEVENTH AVENUE, NEW YORK	/s/ Howard Liebman	05 Dec 2025	0001368425

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	XELB	Common Stock	Award	$0	+11,617	+100%	$0.000000	23,233	03 Dec 2025	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	XELB	Stock Options	Award	$0	+36,500		$0.000000	36,500	03 Dec 2025	Common Stock	36,500	$0.9400	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares of restricted stock awarded pursuant to a restricted stock agreement, which vests on March 31, 2026, provided that the reporting person may extend the vesting date as to all or a portion of the shares, one or more times, in six month increments, at his sole discretion.