# EDGAR Filing Document

**Accession Number:** 0001916145
**File Stem:** 0001140361-26-006310
**Filing Date:** 2026-2
**Character Count:** 8001
**Document Hash:** a53091e7a87ed3eaea325acf628daeb4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-26-006310.hdr.sgml**: 20260220

**ACCESSION NUMBER**: 0001140361-26-006310

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260218

**FILED AS OF DATE**: 20260220

**DATE AS OF CHANGE**: 20260220

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** SIEGAL JONATHAN
- **CENTRAL INDEX KEY:** 0001916145

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35280
- **FILM NUMBER:** 26659840

**MAIL ADDRESS:**
- **STREET 1:** C/O VERICEL CORPORATION
- **STREET 2:** 64 SIDNEY STREET
- **CITY:** CAMBRIDGE
- **STATE:** MA
- **ZIP:** 02139
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vericel Corp
- **CENTRAL INDEX KEY:** 0000887359
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 943096597
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 64 SIDNEY ST.
- **CITY:** CAMBRIDGE
- **STATE:** MA
- **ZIP:** 02139
- **BUSINESS PHONE:** 7349305555

**MAIL ADDRESS:**
- **STREET 1:** 64 SIDNEY ST.
- **CITY:** CAMBRIDGE
- **STATE:** MA
- **ZIP:** 02139

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AASTROM BIOSCIENCES INC
- **DATE OF NAME CHANGE:** 19960428

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>SIEGAL JONATHAN<br><sub>(Last) (First) (Middle)</sub><br>64 SIDNEY STREET<br><sub>(Street)</sub><br>CAMBRIDGE, MA 02139<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-02-18 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Principal Accounting Officer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Vericel Corp [ VCEL ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2026-02-18 |  | M |  | 2500 | A | 0<sup>(1)</sup> | 4682<sup>(2)</sup> | D |  |
| Common Stock | 2026-02-18 |  | F |  | 1117<sup>(3)</sup> | D | $36.82 | 3565<sup>(2)</sup> | D |  |
| Common Stock | 2026-02-18 |  | M |  | 420 | A | 0<sup>(4)</sup> | 3985<sup>(2)</sup> | D |  |
| Common Stock | 2026-02-18 |  | F |  | 188<sup>(3)</sup> | D | $37.41 | 3797<sup>(2)</sup> | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Restricted Stock Unit | <sup>(5)</sup> | 2026-02-18 |  | M |  | 2500 |  | <sup>(1)</sup> | <sup>(6)</sup> | Common Stock | 2500 | <sup>(7)</sup> | 2500 | D |  |
| Restricted Stock Unit | <sup>(5)</sup> | 2026-02-18 |  | M |  | 420 |  | <sup>(4)</sup> | <sup>(6)</sup> | Common Stock | 420 | <sup>(8)</sup> | 0 | D |  |
| Stock Option (Right to Buy) | $38.17 | 2026-02-19 |  | A |  | 6600 |  | <sup>(9)</sup> | 2036-02-19 | Common Stock | 6600 | $0 | 6600 | D |  |
| Restricted Stock Unit | <sup>(5)</sup> | 2026-02-19 |  | A |  | 6160 |  | <sup>(10)</sup> | <sup>(6)</sup> | Common Stock | 6160 | $0 | 6160 | D |  |

---

### Footnotes:

(1) 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.

(2) 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).

(3) These shares were withheld by the Issuer to satisfy the tax withholding requirements in connection with the vesting of RSUs.

(4) 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.

(5) Each RSU represents a contingent right to receive one share of common stock of Vericel Corporation.

(6) No expiration date for this type of award.

(7) The Fair Market Value of the vested derivative securities is $36.82 per share.

(8) The Fair Market Value of the vested derivative securities is $37.41 per share.

(9) 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.

(10) 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.

**Signature:** /s/ Sean Flynn, as Attorney-in-Fact for Jonathan Siegal  
**Date:** 2026-02-20

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**