JONATHAN SIEGAL - 18 Feb 2026 Form 4 Insider Report for Vericel Corp (VCEL)

Role: Principal Accounting Officer
Signature: /s/ Sean Flynn, as Attorney-in-Fact for Jonathan Siegal
Issuer symbol: VCEL
Transactions as of: 18 Feb 2026
Net transactions value: -$48,161
Form type: 4
Filing time: 20 Feb 2026, 16:06:06 UTC
Previous filing: 13 Feb 2026
Next filing: 26 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
SIEGAL JONATHAN	Principal Accounting Officer	64 SIDNEY STREET, CAMBRIDGE	/s/ Sean Flynn, as Attorney-in-Fact for Jonathan Siegal	20 Feb 2026	0001916145

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VCEL	Common Stock	Options Exercise	$0	+2,500	+115%	$0.000000	4,682	18 Feb 2026	Direct	F1, F2
transaction	VCEL	Common Stock	Tax liability	$41,128	-1,117	-24%	$36.82	3,565	18 Feb 2026	Direct	F2, F3
transaction	VCEL	Common Stock	Options Exercise	$0	+420	+12%	$0.000000	3,985	18 Feb 2026	Direct	F2, F4
transaction	VCEL	Common Stock	Tax liability	$7,033	-188	-4.7%	$37.41	3,797	18 Feb 2026	Direct	F2, F3

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	VCEL	Restricted Stock Unit	Options Exercise		+2,500			2,500	18 Feb 2026	Common Stock	2,500		Direct	F1, F5, F6, F7
transaction	VCEL	Restricted Stock Unit	Options Exercise		+420			0	18 Feb 2026	Common Stock	420		Direct	F4, F5, F6, F8
transaction	VCEL	Stock Option (Right to Buy)	Award	$0	+6,600		$0.000000	6,600	19 Feb 2026	Common Stock	6,600	$38.17	Direct	F9
transaction	VCEL	Restricted Stock Unit	Award	$0	+6,160		$0.000000	6,160	19 Feb 2026	Common Stock	6,160		Direct	F5, F6, F10

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

Explanation of Responses:

Id	Content
F1	The shares of common stock were acquired by the Reporting Person as a result of the vesting of Restricted Stock Units (RSUs) granted to the Reporting Person on February 17, 2023. The remaining RSUs will vest on February 17, 2027.
F2	These shares include shares acquired pursuant to the Issuer's 2015 Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c).
F3	These shares were withheld by the Issuer to satisfy the tax withholding requirements in connection with the vesting of RSUs.
F4	The shares of common stock were acquired by the Reporting Person as a result of the vesting of RSUs granted to the Reporting Person on February 18, 2022.
F5	Each RSU represents a contingent right to receive one share of common stock of Vericel Corporation.
F6	No expiration date for this type of award.
F7	The Fair Market Value of the vested derivative securities is $36.82 per share.
F8	The Fair Market Value of the vested derivative securities is $37.41 per share.
F9	These options shall begin vesting on February 19, 2026 and shall continue to vest and become exercisable in equal quarterly installments over the course of the following four (4) year period.
F10	These RSUs vest in four annual installments with the initial vesting of RSUs granted to the Reporting Person on February 19, 2027. The remaining RSUs will vest in annual installments on February 19, 2028, February 19, 2029, and February 19, 2030, respectively.