Loren Robert W. D. - 02 Jan 2026 Form 4 Insider Report for XCel Brands, Inc. (XELB)

Role: CEO and Chairman, Director, 10%+ Owner
Signature: /s/ Robert W. D'Loren
Issuer symbol: XELB
Transactions as of: 02 Jan 2026
Net transactions value: +$14,364
Form type: 4
Filing time: 06 Jan 2026, 16:40:17 UTC
Previous filing: 19 Dec 2025
Next filing: 04 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
D LOREN ROBERT W	CEO and Chairman, Director, 10%+ Owner	C/O XCEL BRANDS, INC., 550 SEVENTH AVENUE, NEW YORK	/s/ Robert W. D'Loren	06 Jan 2026	0001086742

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	XELB	Common Stock	Award	$29,616	+26,924	+3.9%	$1.10	714,221	02 Jan 2026	Direct	F1
transaction	XELB	Common Stock	Tax liability	$15,253	-13,866	-1.9%	$1.10	700,355	02 Jan 2026	Direct	F2
holding	XELB	Common Stock						60,731	02 Jan 2026	See Footnote	F3

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

Explanation of Responses:

Id	Content
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.
F3	Represents shares held by the Irrevocable Trust of Rose Dempsey, of which the reporting person has sole voting and dispositive power.