# EDGAR Filing Document

**Accession Number:** 0000811641
**File Stem:** 0001437749-26-016719
**Filing Date:** 2026-5
**Character Count:** 62526
**Document Hash:** a1037578085ec10ee5919712aa761cea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-26-016719.hdr.sgml**: 20260513

**ACCESSION NUMBER**: 0001437749-26-016719

**CONFORMED SUBMISSION TYPE**: 10-K/A

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260513

**DATE AS OF CHANGE**: 20260513

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IMMUCELL CORP /DE/
- **CENTRAL INDEX KEY:** 0000811641
- **STANDARD INDUSTRIAL CLASSIFICATION:** IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 010382980
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-12934
- **FILM NUMBER:** 26973275

**BUSINESS ADDRESS:**
- **STREET 1:** 56 EVERGREEN DR
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04103
- **BUSINESS PHONE:** 2078782770

**MAIL ADDRESS:**
- **STREET 1:** 56 EVERGREEN DRIVE
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04103

?xml version='1.0' encoding='ASCII'? iccc20251231_10ka.htm

[**Table of Contents**](#toc)

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**UNITED STATES**

 **SECURITIES AND EXCHANGE COMMISSION**

 **Washington, D.C. 20549**

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**FORM 10-K/A**

**Amendment No. 1**

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**☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the fiscal year ended December 31, 2025**

**☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from to**

<u>**001-12934**</u>

**(Commission file number)**

<u>**ImmuCell Corporation**</u>

**(Exact name of registrant as specified in its charter)**

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| | |
|:---|:---|
| **Delaware** | **01-0382980** |
| **(State of incorporation)** | **(I.R.S. Employer** <br> **Identification No.)** |

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| | |
|:---|:---|
| **56 Evergreen Drive, Portland, Maine** | **04103** |
| **(Address of principal executive offices)** | **(Zip Code)** |

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**<u>(207) 878-2770</u>**

**(Registrant**'**s telephone number)**

Securities registered pursuant to Section 12(b) of the Act:

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| | |
|:---|:---|
| **Title of each class** | **Name of each exchange on which registered** |
| Common Stock, $0.10 par value per share<br> ICCC | The Nasdaq Capital Market |

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Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that require a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

The aggregate market value of the voting and non-voting common equity held by non-affiliates at June 30, 2025 was approximately $50,600,000 based on the closing sales price on June 27, 2025 of $6.75 per share.

The number of shares of the registrant's common stock outstanding as of March 24, 2026 was 9,046,799.

Documents incorporated by reference: Portions of the registrant's definitive Proxy Statement to be filed in connection with the 2026 Annual Meeting of Stockholders are incorporated by reference into Part III hereof.

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**Explanatory Note**

ImmuCell Corporation (the "Company") is filing this Amendment No. 1 to the Annual Report on Form 10-K (this "Amendment") to amend the Exhibit List which constitutes a portion of Part IV, Item 15 of its Annual Report on Form 10-K for the year ended December 31, 2025, originally filed with the Securities and Exchange Commission ("SEC") on March 30, 2026 (the "Original Filing").

This Amendment (i) adds as an additional exhibit (Exhibit 10.43) a previously-filed document that was inadvertently omitted from the Exhibit Index as filed; (ii) adds textual "incorporated by reference" descriptions inadvertently omitted for five previously-filed documents shown on the Exhibit Index (Exhibits 10.12 through 10.16); (iii) changes the descriptive heading of one document (Exhibit 10.9) filed with the Original Filing; and (iv) refiles a previously-filed stock incentive plan (Exhibit 10.7) to conform to the updated version included as Appendix A to the Company's definitive proxy statement filed with the SEC on April 24, 2026. Additionally, the Company is filing updated certifications as Exhibits 31.1, 31.2, 32.1, and 32.2.

The Company's financial statements (and report of Wipfli LLP, as Independent Registered Public Accounting Firm) were included in Part IV of the Original Filing and are not amended hereby.

This Amendment does not otherwise change or update any of the disclosures set forth in the Original Filing and does not otherwise reflect any events occurring after the filing date of the Original Filing.

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**PART IV**

**ITEM 15** — **EXHIBITS AND FINANCIAL STATEMENT SCHEDULES**

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| | |
|:---|:---|
| 1.1 | [At the Market Agreement between the Company and Craig-Hallum Capital Group LLC dated as of April 8, 2024 (incorporated by reference to Exhibit 1.1 of the Company's Current Report on Form 8-K Filed on April 9, 2024).](http://www.sec.gov/Archives/edgar/data/811641/000121390024031647/ea020357301ex1-1_immucell.htm) |
| 3.1 | Certificate of Incorporation of the Company (incorporated by reference to Exhibit 3.1 of the Company's 1987 Registration Statement No. 33-12722 on Form S-1 as filed with the Commission). |
| 3.2 | [Certificate of Amendment to the Company's Certificate of Incorporation effective July 23, 1990 (incorporated by reference to Exhibit 3.2 of the Company's Annual Report on Form 10-K for the year ended December 31, 2008).](http://www.sec.gov/Archives/edgar/data/811641/000119312509065667/dex32.htm) |
| 3.3 | [Certificate of Amendment to the Company's Certificate of Incorporation effective August 24, 1992 (incorporated by reference to Exhibit 3.3 of the Company's Annual Report on Form 10-K for the year ended December 31, 2008).](http://www.sec.gov/Archives/edgar/data/811641/000119312509065667/dex33.htm) |
| 3.4 | [Certificate of Amendment to the Company's Certificate of Incorporation effective June 16, 2016 (incorporated by reference to Exhibit 3.1 of the Company's Amended Current Report on Form 8-K/A filed on June 16, 2016).](http://www.sec.gov/Archives/edgar/data/811641/000121390016014285/f8k061616a1ex3i_immucellcorp.htm) |
| 3.5 | [Certificate of Amendment to the Company's Certificate of Incorporation effective June 18, 2018 (incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K filed on June 18, 2018).](http://www.sec.gov/Archives/edgar/data/811641/000121390018007801/f8k061418ex3-1_immucellcorp.htm) |

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| | |
|:---|:---|
| 3.6 | [Certificate of Amendment to the Company's Certificate of Incorporation effective June 11, 2020 (incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K filed on June 11, 2020).](http://www.sec.gov/Archives/edgar/data/811641/000121390020014682/ea122959ex3-1_immucell.htm) |
| 3.7 | [Bylaws of the Company as amended and restated September 20, 2024 (incorporated by reference to Exhibit 3.2 of the Company's Current Report on Form 8-K filed on September 24, 2024).](http://www.sec.gov/Archives/edgar/data/811641/000121390024081304/ea021549201ex3-2_immucell.htm) |
| 4.1 | [Description of Securities Registered Under Section 12 of the Securities Exchange Act of 1934, as amended (incorporated by reference to Exhibit 4.2 of the Company's Annual Report on Form 10-K for the year ended December 31, 2020).](http://www.sec.gov/Archives/edgar/data/811641/000121390021018473/f10k2020ex4-2_immucell.htm) |
| 10.1+ | [Form of Indemnification Agreement (updated) entered into with each of the Company's Directors and Officers (incorporated by reference to Exhibit 10.3A of the Company's Annual Report on Form 10-KSB for the year ended December 31, 2006).](http://www.sec.gov/Archives/edgar/data/811641/000119312507067375/dex103a.htm) |
| 10.2+ | [2010 Stock Option and Incentive Plan of the Company (incorporated by reference to Exhibit 10.6 of the Company's Annual Report on Form 10-K for the year ended December 31, 2010).](http://www.sec.gov/Archives/edgar/data/811641/000119312511079611/dex106.htm) |
| 10.3+ | [Form of Incentive Stock Option Agreement (incorporated by reference to Exhibit 10.7 of the Company's Annual Report on Form 10-K for the year ended December 31, 2010).](http://www.sec.gov/Archives/edgar/data/811641/000119312511079611/dex107.htm) |
| 10.4+ | [2017 Stock Option and Incentive Plan of the Company (incorporated by reference to Exhibit 10.1 of the Company's Quarterly Report on Form 10-Q for the three-month period ended June 30, 2017).](http://www.sec.gov/Archives/edgar/data/811641/000121390017008652/f10q0617ex10i_immucell.htm) |
| 10.5+ | [Form of Incentive Stock Option Agreement (incorporated by reference to Exhibit 10.9 of the Company's Annual Report on Form 10-K for the year ended December 31, 2019).](http://www.sec.gov/Archives/edgar/data/811641/000121390020007650/f10k2019ex10-9_immucell.htm) |
| 10.6+ | [Amendment to the 2017 Stock Option and Incentive Plan of the Company (incorporated by reference to Exhibit 10.7 of the Company's Annual Report on Form 10-K for the year ended December 31, 2022).](http://www.sec.gov/Archives/edgar/data/811641/000121390023024080/f10k2022ex10-7_immucellcorp.htm) |
| 10.7+\* | [2025 Stock Option and Incentive Plan, as approved by the Board of Directors on November 7, 2025 and revised on March 26, 2026 and April 7, 2026.](ex_957641.htm) |
| 10.8+ | [Form of Incentive Stock Option Agreement for 2025 Plan (incorporated by reference to Exhibit 10.8 of the Company's Annual Report on Form 10-K for the year ended December 31, 2025).](http://www.sec.gov/Archives/edgar/data/0000811641/000143774926010339/ex_937544.htm) |
| 10.9+ | [Form of Director Stock Option Agreement for 2025 Plan (incorporated by reference to Exhibit 10.9 of the Company's Annual Report on Form 10-K for the year ended December 31, 2025).](http://www.sec.gov/Archives/edgar/data/0000811641/000143774926010339/ex_937545.htm) |
| 10.10+ | [Amended and Restated Separation and Deferred Compensation Agreement between the Company and Michael F. Brigham dated as of March 28, 2022 (incorporated by reference to Exhibit 10.9 of the Company's Annual Report on Form 10-K filed on March 30, 2022).](http://www.sec.gov/Archives/edgar/data/811641/000121390022016147/f10k2021ex10-9_immucellcorp.htm) |
| 10.11+ | [Fourth Amended and Restated Incentive Compensation Agreement between the Company and Bobbi Jo Brockmann dated as of March 27, 2024 (incorporated by reference to Exhibit 10.11 to the Company's Annual Report on Form 10-K for the year ended December 31, 2023).](http://www.sec.gov/Archives/edgar/data/811641/000121390024028718/ea020227701ex10-11_immucell.htm) |
| 10.12+ | [Incentive Compensation Agreement between the Company and Michael F. Brigham dated as of March 27, 2025 (incorporated by reference to Exhibit 10.10 of the Company's Annual Report on Form 10-K for the year ended December 31, 2024).](http://www.sec.gov/Archives/edgar/data/811641/000101376225004072/ea023548101ex10-10_immucell.htm) |
| 10.13+ | [Amended and Restated Incentive Compensation and Severance Agreement between the Company and Bobbi Jo Brockmann dated as of March 27, 2025 (incorporated by reference to Exhibit 10.11 of the Company's Annual Report on Form 10-K for the year ended December 31, 2024).](http://www.sec.gov/Archives/edgar/data/811641/000101376225004072/ea023548101ex10-11_immucell.htm) |
| 10.14+ | [Incentive Compensation Agreement between the Company and Timothy C. Fiori dated as of April 4, 2025 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed April 7, 2025).](http://www.sec.gov/Archives/edgar/data/811641/000121390025029407/ea023740401ex10-1_immucell.htm) |
| 10.15+ | [Employment Agreement between the Company and Olivier te Boekhorst dated as of September 29, 2025 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed September 30, 2025).](http://www.sec.gov/Archives/edgar/data/811641/000143774925030110/ex_865267.htm) |
| 10.16+ | [Confidential Information, Inventions and Noncompete Agreement between the Company and Olivier te Boekhorst dated as of September 29, 2025 (incorporated by reference to Exhibit 10.2 of the Company's Current Report on Form 8-K filed September 30, 2025).](http://www.sec.gov/Archives/edgar/data/811641/000143774925030110/ex_865270.htm) |
| 10.17 | [Development Services and Commercial Supply Agreement between the Company and Norbrook Laboratories Limited dated as of September 5, 2019 (incorporated by reference to Exhibit 99.2 of the Company's Current Report on Form 8-K filed on September 11, 2019).](http://www.sec.gov/Archives/edgar/data/811641/000121390019017687/f8k090519ex99-2_immucellcorp.htm) |
| 10.18 | [Amending Agreement between the Company and Norbrook Laboratories dated as of March 4, 2024 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed March 6, 2024).](http://www.sec.gov/Archives/edgar/data/811641/000121390024020389/ea0201306ex10-1_immucell.htm) |
| 10.19 | [Amending Agreement between the Company and Norbrook Laboratories dated as of November 29, 2024 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed December 2, 2024).](http://www.sec.gov/Archives/edgar/data/811641/000121390024104543/ea022331501ex10-1_immu.htm) |
| 10.20 | [Indenture of Lease for Premises Located in Portland, Maine between the Company and TVP, LLC (incorporated by reference to Exhibit 99.2 of the Company's Current Report on Form 8-K filed on September 17, 2019).](http://www.sec.gov/Archives/edgar/data/811641/000121390019018253/f8k091219ex99-2_immucell.htm) |
| 10.21 | [Second Amendment of Indenture of Lease for Premises Located in Portland, Maine between the Company and TVP, LLC dated as of August 15, 2022 (incorporated by reference to Exhibit 99.1 to the Company's Current Report on Form 8-K filed on August 17, 2022).](http://www.sec.gov/Archives/edgar/data/811641/000121390022049025/ea164617ex99-1_immucell.htm) |
| 10.22 | [Third Amendment of Indenture of Lease for Premises Located in Portland, Maine between the Company and TVP, LLC dated as of November 14, 2023 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed on November 16, 2023).](http://www.sec.gov/Archives/edgar/data/811641/000121390023087893/ea188617ex10-1_immucell.htm) |
| 10.23 | [Term Note for $5,100,000 between the Company and Gorham Savings Bank dated March 11, 2020 (incorporated by reference to Exhibit 99.2 of the Company's Current Report on Form 8-K filed on March 12, 2020).](http://www.sec.gov/Archives/edgar/data/811641/000121390020006089/ea119564ex99-2_immucell.htm) |
| 10.24 | [Loan Agreement for $5,100,000 between the Company and Gorham Savings Bank dated March 11, 2020 (incorporated by reference to Exhibit 99.4 of the Company's Current Report on Form 8-K filed on March 12, 2020).](http://www.sec.gov/Archives/edgar/data/811641/000121390020006089/ea119564ex99-4_immucell.htm) |
| 10.25 | [Allonge to and Amendment of Term Note, dated March 23, 2022, between the Company and Gorham Savings Bank (incorporated by reference to Exhibit 99.1 of the Company's Current Report on Form 8-K filed on March 24, 2022).](http://www.sec.gov/Archives/edgar/data/811641/000121390022014793/ea157362ex99-1_immucell.htm) |
| 10.26 | [Mortgage Modification Agreement, dated March 23, 2022, between the Company and Gorham Savings Bank (incorporated by reference to Exhibit 99.2 of the Company's Current Report on Form 8-K filed on March 24, 2022).](http://www.sec.gov/Archives/edgar/data/811641/000121390022014793/ea157362ex99-2_immucell.htm) |

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| | |
|:---|:---|
| 10.27 | [Term Note for $3,500,000 between the Company and Gorham Savings Bank dated March 11, 2020 (incorporated by reference to Exhibit 99.3 of the Company's Current Report on Form 8-K filed on March 12, 2020).](http://www.sec.gov/Archives/edgar/data/811641/000121390020006089/ea119564ex99-3_immucell.htm) |
| 10.28 | [Loan Agreement for $3,500,000 between the Company and Gorham Savings Bank dated March 11, 2020 (incorporated by reference to Exhibit 99.5 of the Company's Current Report on Form 8-K filed on March 12, 2020).](http://www.sec.gov/Archives/edgar/data/811641/000121390020006089/ea119564ex99-5_immucell.htm) |
| 10.29 | [Line of Credit Agreement for up to $1,000,000 executed by ImmuCell Corporation in favor of Gorham Savings Bank dated March 11, 2020 (incorporated by reference to Exhibit 99.6 of the Company's Current Report on Form 8-K filed on March 12, 2020).](http://www.sec.gov/Archives/edgar/data/811641/000121390020006089/ea119564ex99-6_immucell.htm) |
| 10.30 | [Allonge to and Amendment of Line of Credit Loan for up to $1,000,000 between the Company and Gorham Savings Bank dated March 23, 2022 (incorporated by reference to Exhibit 10.23 of the Company's Annual Report on Form 10-K for the year ended December 31, 2022).](http://www.sec.gov/Archives/edgar/data/811641/000121390023024080/f10k2022ex10-23_immucellcorp.htm) |
| 10.31 | [Allonge to and Amendment of Line of Credit between the Company and Gorham Savings Bank, dated February 22, 2024 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed on February 27, 2024).](http://www.sec.gov/Archives/edgar/data/811641/000121390024017522/ea0200796ex10-1_immucell.htm) |
| 10.32 | [Note Purchase Agreement executed by the Company in favor of the Maine Technology Institute dated June 12, 2020 (incorporated by reference to Exhibit 99.2 of the Company's Current Report on Form 8-K filed on June 16, 2020).](http://www.sec.gov/Archives/edgar/data/811641/000121390020015079/ea123091ex99-2_immucell.htm) |
| 10.33 | [Subordinated Promissory Note for $500,000 executed by the Company in favor of the Maine Technology Institute dated June 12, 2020 (incorporated by reference to Exhibit 99.3 of the Company's Current Report on Form 8-K filed on June 16, 2020).](http://www.sec.gov/Archives/edgar/data/811641/000121390020015079/ea123091ex99-3_immucell.htm) |

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|:---|:---|
| 10.34 | [Note Purchase Agreement executed by the Company in favor of the Maine Technology Institute dated June 30, 2021 (incorporated by reference to Exhibit 99.1 of the Company's Current Report on Form 8-K filed on July 6, 2021).](http://www.sec.gov/Archives/edgar/data/811641/000121390021035662/ea143716ex99-1_immucell.htm) |
| 10.35 | [Subordinated Promissory Note for $400,000 executed by the Company in favor of the Maine Technology Institute dated June 30, 2022 (incorporated by reference to Exhibit 99.2 of the Company's Current Report on Form 8-K filed on July 6, 2021).](http://www.sec.gov/Archives/edgar/data/811641/000121390021035662/ea143716ex99-2_immucell.htm) |
| 10.36 | [Term Note for $1,500,000 executed by the Company in favor of Gorham Savings Bank dated December 15, 2020 (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed on December 17, 2020).](http://www.sec.gov/Archives/edgar/data/811641/000121390020043105/ea131766ex10-1_immucell.htm) |
| 10.37 | [Loan Agreement for $1,500,000 executed by the Company in favor of Gorham Savings Bank dated December 15, 2020 (incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K filed on December 17, 2020).](http://www.sec.gov/Archives/edgar/data/811641/000121390020043105/ea131766ex10-2_immucell.htm) |
| 10.38 | [Term Note for $2,000,000 executed by ImmuCell Corporation in favor of Gorham Savings Bank dated July 17, 2023 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed on July 21, 2023).](http://www.sec.gov/Archives/edgar/data/811641/000121390023058672/ea182107ex10-1_immucell.htm) |
| 10.39 | [Promissory Note executed by the Company in favor of Maine Community Bank dated as of August 7, 2025 (incorporated by reference to Exhibit 10.2 of the Company's Current Report on Form 8-K filed on August 12, 2025).](http://www.sec.gov/Archives/edgar/data/811641/000121390025074983/ea025289001ex10-2_immucell.htm) |
| 10.40 | [Allonge to and Amendment of Line of Credit Loan between the Company and Maine Community Bank dated August 20, 2025 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed on August 25, 2025).](http://www.sec.gov/Archives/edgar/data/811641/000121390025080110/ea025436101ex10-1_immucell.htm) |
| 10.41 | [Fourth Amendment of Indenture of Lease for Premises Located in Portland, Maine between the Company and TVP, LLC dated as of June 11, 2024 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed on June 14, 2024).](http://www.sec.gov/Archives/edgar/data/811641/000121390024052776/ea020791901ex10-1_immucell.htm) |
| 10.42 | [Fifth Amendment of Indenture of Lease for Premises Located in Portland, Maine between the Company and TVP, LLC dated as of September 20, 2024 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed on September 24, 2024).](http://www.sec.gov/Archives/edgar/data/0000811641/000121390024081304/ea021549201ex10-1_immucell.htm) |
| 10.43 | [Loan Agreement between the Company and Maine Community Bank dated as of August 7, 2025 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed on August 12, 2025).](http://www.sec.gov/Archives/edgar/data/0000811641/000121390025074983/ea025289001ex10-1_immucell.htm) |
| 14 | [Code of Business Conduct and Ethics (incorporated by reference to Exhibit 14 of the Company's Current Report on Form 8-K filed on March 20, 2014).](http://www.sec.gov/Archives/edgar/data/811641/000110262414000412/exh14.htm) |
| 19 | [Insider Trading Policy of the Company adopted as of December 11, 2024 (incorporated by reference to Exhibit 19 to the Company's Annual Report on Form 10-K for the year ended December 31, 2024).](http://www.sec.gov/Archives/edgar/data/811641/000101376225004072/ea023548101ex19_immucell.htm) |
| 23.1 | [Consent of Independent Registered Public Accounting Firm (incorporated by reference to Exhibit 23.1 of the Company's Annual Report on Form 10-K for the year ended December 31, 2025).](http://www.sec.gov/Archives/edgar/data/0000811641/000143774926010339/ex_852935.htm) |
| 24.1 | [Power of Attorney (incorporated by reference to the signature page of this Form 10-K).](#poa) |
| 31.1\* | [Certification of the President and Chief Executive Officer Pursuant to Rule 13a-14(a).](ex_957645.htm) |
| 31.2\* | [Certification of the Chief Financial Officer the Pursuant to Rule 13a-14(a).](ex_957646.htm) |
| 32.1\* | [Certification of the President and Chief Executive Officer Pursuant to Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](ex_957647.htm) |
| 32.2\* | [Certification of the Chief Financial Officer Pursuant to Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](ex_957648.htm) |
| 97.1 | [ImmuCell Corporation Clawback Policy (incorporated by reference to Exhibit 97.1 of the Company's Annual Report on Form 10-K for the year ended December 31, 2023).](http://www.sec.gov/Archives/edgar/data/811641/000121390024028718/ea020227701ex97-1_immucell.htm) |
| 101.INS | Inline XBRL Instance Document. |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |

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|:---|:---|
| + | Management contract or compensatory plan or arrangement. |

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\* Filed herewith.

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**Signatures**

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  |  | <u>ImmuCell Corporation</u> |
|  |  | Registrant |
| Date: May 13, 2026 | By:  | /s/ Timothy C. Fiori |
|  |  | Timothy C. Fiori, Chief Financial Officer and Principal Financial Officer |

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## Exhibit 10.7

**Exhibit 10.7**

**2025 STOCK OPTION AND INCENTIVE PLAN** 

&nbsp;&nbsp;&nbsp;&nbsp;**I. GENERAL**

1. <u>Purpose</u>. This 2025 Stock Option and Incentive Plan (the "Plan") of ImmuCell Corporation (the Company) is intended to advance the interests of the Company by providing certain of its employees and certain other individuals providing services to the Company with an additional incentive, encouraging stock ownership by such individuals, increasing their proprietary interest in the success of the Company and encouraging them to remain employees of the Company or service providers for the Company.

2. <u>Definitions</u>. Whenever used herein, the following terms shall have the meanings set forth below:

a. "Board" means the Board of Directors of the Company.

b. "Code" means the Internal Revenue Code of 1986, as it may be amended from time to time.

c. "Committee" means the compensation committee appointed by the Board to administer this Plan pursuant to Section 3 hereof. The Board in its discretion may at any time act in lieu of the Committee in the administration of this Plan, and shall do so at any time when no Committee has been appointed or the Committee is unable to act.

d. "Company Group" means the Company, a parent corporation or subsidiary corporation of the Company, or a corporation, or a parent corporation or subsidiary corporation of such corporation, issuing or assuming an Option in a transaction of the type described in Section 424(a) of the Code. The terms "parent corporation" and "subsidiary corporation" shall have the meanings assigned to such terms by Section 424 of the Code.

e. "Disability" means a permanent and total disability as defined in Section 22(e)(3) of the Code.

f. "Fair Market Value" means, (i) if the Common Stock trades on a national securities exchange, the closing sale price (for the primary trading session) on the applicable date; (ii) if the Common Stock does not trade on any such exchange, the average of the closing bid and asked prices on the applicable date as reported by an over-the counter marketplace designated by the Committee; or (iii) if no such prices are available, the fair market value as determined by rules to be adopted by the Committee.

g. "Incentive Stock Option" has the meaning set forth in Part II of this Plan.

h. "Nonqualified Stock Option" has the meaning set forth in Part II of this Plan.

a. "Option" has the meaning set forth in Part II of this Plan.

b. "Participant" means an individual to whom an Option is granted under this Plan.

c. "Shares" means shares of the Company's common stock (the "Common Stock").

3. <u>Administration</u>. This Plan shall be administered by a committee (presently called the Compensation and Stock Option Committee) consisting of at least two members appointed by the Board. The members of the Committee shall at all times be: (i) "outside directors" as such term is defined in Treas. Reg. § 1.162-27(e)(3) (or any successor regulation) and (ii) "non-employee directors" within the meaning of Rule 16b-3 (or any successor rule) under the Securities Exchange Act of 1934, as amended, as such terms are interpreted from time to time. The Board, at its pleasure, may remove members from or add members to the Committee. A majority of Committee members shall constitute a quorum of members, and the actions of the majority shall be final and binding on the whole Committee.

In addition to the other powers granted to the Committee under this Plan, the Committee shall have the power, subject to the terms of this Plan: (i) to determine which of the eligible individuals shall be granted Options; (ii) to determine the time or times when Options shall be granted and to determine the number of Shares subject to each Option; (iii) to accelerate or extend the date on which a previously granted Option may be exercised, *provided* that such extension shall not extend the option beyond ten (10) years; (iv) to prescribe the form of agreement evidencing Options granted pursuant to this Plan; (v) to correct any defect, supply any omission or reconcile any inconsistency in this Plan or any Option awarded and (vi) to construe and interpret this Plan and the agreements evidencing Options granted pursuant to this Plan, and otherwise to make all other determinations and take all other actions necessary or advisable for the administration of this Plan. The terms of Option awards need not be identical, and the Committee need not treat Participants uniformly.

4. <u>Eligibility</u>. The individuals who shall be eligible to receive Options shall be such employees employed by a member of the Company Group and such other individuals providing services to a member of the Company Group as shall be selected by the Committee, including without limitation non-employee directors, consultants, and advisors; *provided*, *however*, that only employees employed by a member of the Company Group shall be eligible to receive Incentive Stock Options. Participants chosen to participate under this Plan may be granted an Incentive Stock Option, a Nonqualified Stock Option, or any combination thereof.

5. <u>Shares Subject to This Plan</u>. The Shares subject to Options shall be either authorized and unissued Shares or treasury Shares. The aggregate number of Shares which may be issued pursuant to this Plan shall be <u>six hundred fifty thousand (650,000)</u>. Except as provided below, if an Option shall expire and terminate for any reason, in whole or in part, without being exercised, the number of Shares as to which such expired or terminated Option shall not have been exercised may again become available for the grant of Options. Any or all Options granted hereunder may be Incentive Stock Options or Nonqualified Stock Options, subject to the criteria applicable thereto.

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&nbsp;&nbsp;&nbsp;&nbsp;**II. STOCK OPTION PROVISIONS**

1. <u>General</u>. The Committee may grant options to purchase Common Stock (each, an "  ***Option***") and determine the number of shares of Common Stock to be covered by each Option, the exercise price of each Option and the conditions and limitations applicable to the exercise of each Option, including conditions relating to applicable federal or state securities laws, as the Committee considers necessary or advisable.

2. <u>Incentive Stock Options; Nonqualified Stock Options</u>. An Option that the Committee intends to be an "incentive stock option" as defined in Section 422 of the Code (an "Incentive Stock Option") shall only be granted to employees of the Company, any of the Company's present or future parent or subsidiary corporations as defined in Sections 424(e) or (f) of the Code, and any other entities the employees of which are eligible to receive Incentive Stock Options under the Code, and shall be subject to and shall be construed consistently with the requirements of Section 422 of the Code. The aggregate Fair Market Value (determined as of the date of grant) of shares with respect to which incentive stock options (as defined in Section 422 of the Code) are exercisable for the first time by an individual in a calendar year (under all plans of the Company Group) shall not exceed $100,000. Anything herein to the contrary notwithstanding, no Incentive Stock Option shall be granted to an employee if, at the time the Incentive Stock Option is granted, such employee owns stock possessing more than 10% of the total combined voting power of all classes of stock of any member of the Company Group unless (x) the option price is at least 110% of the Fair Market Value of the Shares subject to the Incentive Stock Option at the time the Incentive Stock Option is granted and (y) the Incentive Stock Option is not exercisable after the expiration of five (5) years from the date the Incentive Stock Option is granted. <u> </u> An Option that is not intended to be an Incentive Stock Option shall be designated a "Nonqualified Stock Option." The Company shall have no liability to a Participant, or any other person, if an Option (or any part thereof) that is intended to be an Incentive Stock Option is not for any reason ineligible for incentive stock option treatment under the Code, or if the Option for any reason converts from an Incentive Stock Option to a Nonqualified Stock Option.

3. <u>Exercise Price</u>. The Committee shall establish the exercise price of each Option or the formula by which such exercise price will be determined. The exercise price shall be specified in the applicable Option agreement. The exercise price shall be not less than 100% of the Fair Market Value of the Common Stock on the date the Option is granted; *provided* that if the Committee approves the grant of an Option with an exercise price to be determined on a future date, the exercise price shall be not less than 100% of the Fair Market Value on such future date. The Committee has sole discretion to determine the Fair Market Value for purposes of this Plan, and the Committee's determination is conclusive and binding on the Participant and the Company.

4. <u>Option Period; Vesting</u>.

a. <u>General</u>. Each Option shall be exercisable on such conditions, at such times and subject to such other terms as the Committee may specify in the applicable Option agreement; *provided, however*, that no Option may be granted with a term in excess of ten (10) years, and no extension of the time to exercise an Option shall be enforceable beyond ten (10) years after the grant date of the Option. Subject to the foregoing, the Committee may establish a period or periods with respect to all or any part of the Option during which such Option may not be exercised and may accelerate the right of the Participant to exercise all or any part of the Option not then exercisable. The Committee may also establish a minimum number of Shares which may be purchased at any one time under the Option.

b. <u>Performance Awards</u>. The Committee may specify that the granting, vesting or exercise conditions of any Option shall be subject to the achievement of one or more performance measures established or approved by the Committee, which may be based on the relative or absolute attainment of specified levels of one or any combination of financial or operating metrics, which may but need not be determined pursuant to generally accepted accounting principles, including without limitation: (i) revenue, (ii) income or earnings, including net income, operating income, earnings before or after interest, taxes, depreciation, amortization or extraordinary or special items, (iii) operating margin or profit margin, (iv) stock price or total stockholder return, (v) cost targets, reductions and savings, expense management, productivity and efficiencies, (vi) improvement of financial ratings, (vii) strategic business criteria and (viii) any other measure selected or approved by the Committee. Such goals may reflect absolute entity or business unit performance, improvements against prior year performance, or performance relative to a peer group of entities or other external measures. The Committee may specify that such performance measures shall be adjusted to exclude any one or more of (A) extraordinary items, (B) gains or losses on the dispositions of discontinued operations, (C) the cumulative effects of changes in accounting principles, (D) the writedown of any asset, (E) fluctuation in foreign currency exchange rates, (F) charges for restructuring and rationalization programs, (G) non-cash asset impairment charges and (H) any other factors as the Committee may determine. Such performance measures: (x) may vary by Participant and may be different for different Options, (y) may be particular to a Participant or the department or other unit in which the Participant works and (z) may cover such periods as may be specified by the Committee. The Committee shall have the authority to make equitable adjustments to the performance goals in recognition of unusual or non-recurring events affecting the Company or the financial statements of the Company, in response to changes in applicable laws or regulations or to account for items of gain, loss or expense determined to be extraordinary or unusual in nature or infrequent in occurrence or related to the disposal of a segment of a business or related to a change in accounting principles.

c. <u>Termination of Employment</u>. If the Participant ceases to be an employee of any member of the Company Group, or ceases to perform services for any member of the Company Group, for any reason other than Disability or death, then unless the Option agreement provides for a different period following termination of employment, any then outstanding Option held by the Participant shall remain exercisable until the earlier of the date on which such Option would otherwise expire or three (3) months after such termination of employment, but only to the extent such Option was exercisable as of the date of termination of employment.

d. <u>Disability</u>. If a Participant's employment is terminated by reason of Disability, then unless the Option agreement provides for a different period following termination by Disability, any then outstanding Option held by the Participant shall remain exercisable until the earlier of the date on which such Option would otherwise expire or one (1) year after such termination of employment, but only to the extent such Option was exercisable as of the date of termination of employment.

e. <u>Death</u>. If a Participant's employment is terminated by death, then unless the Option agreement provides for a different period following termination by death, the representative of the Participant's estate or beneficiaries thereof to whom any Option has been transferred shall have the right to exercise that Options, in whole or in part, until the earlier of the date on which such Option would otherwise expire or one (1) year after the date of death, but only to the extent such Option was exercisable as of the date of death.

5. <u>Exercise of Options</u>. Options may be exercised by delivery to the Company of a notice of exercise in a form (which may be electronic) approved by the Company, together with payment in full (in the manner specified in Section 6) of the exercise price for the number of shares for which the Option is exercised. Shares of Common Stock subject to the Option will be delivered by the Company as soon as practicable following exercise.

------

6. <u>Payment Upon Exercise</u>. Common Stock purchased upon the exercise of an Option granted under this Plan shall be paid for as follows:

a. in cash or by check, payable to the order of the Company;

b. to the extent provided for in the applicable Option agreement or approved by the Committee, by delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price and any required tax withholding;

c. to the extent provided for in the applicable Option agreement or approved by the Committee, by delivery of shares of Common Stock owned by the Participant valued at their Fair Market Value, but only if (i) such method of payment is then permitted under applicable law, (ii) such Common Stock, if acquired directly from the Company, was owned by the Participant for at least one year, or for such other minimum period of time established by the Committee and (iii) such Common Stock is not subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements;

d. to the extent provided for in the applicable Nonqualified Stock Option agreement or approved by the Committee, by delivery of a notice of "net exercise" to the Company, as a result of which the Participant would receive (i) the number of shares underlying the portion of the Option being exercised, less (ii) such number of shares as is equal to (A) the aggregate exercise price for the portion of the Option being exercised plus any required tax withholding *divided by* (B) the Fair Market Value of the Common Stock on the date of exercise;

e. to the extent permitted by applicable law and provided for in the applicable Option agreement or approved by the Committee, by payment of such other lawful consideration as the Committee may determine; *provided*, *however*, that in no event may a promissory note of the Participant be used to pay the Option exercise price; or

f. by any combination of the above permitted forms of payment.

7. <u>Non-transferability</u>. An Incentive Stock Option shall not be transferable or assignable by the Participant other than by will or the laws of descent and distribution and shall be exercisable during the Participant's lifetime only by the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;**III. MISCELLANEOUS**

1. <u>Effective Date</u>. This Plan shall become effective on November 7, 2025 (the "Effective Date"), *provided*, *however*, that if this Plan is not approved by the stockholders of the Company prior to the expiration of the one year period commencing on the Effective Date, this Plan and all Options granted hereunder shall be null and void and shall be of no effect.

2. <u>Duration of Plan</u>. Unless sooner terminated, this Plan shall remain in effect for a period of ten years after the Effective Date and shall thereafter terminate. No Incentive Stock Options or Nonqualified Stock Options may be granted after the termination of this Plan; *provided*, *however*, that except as otherwise provided in Section 1 of this Part III, termination of this Plan shall not affect any Options previously granted, which Options and shall remain in effect until exercised, surrendered or cancelled, or until they have expired, all in accordance with their terms.

3. <u>Changes in Capital Structure, etc.</u> In the event of changes in the outstanding common shares of the Company by reason of stock dividends, stock splits, recapitalizations, mergers, consolidations, combinations or exchange of shares, separations, reorganizations, or liquidations, the number of Shares available under this Plan in the aggregate and the maximum number of Shares as to which Options may be granted to any Participant shall be correspondingly adjusted by the Committee. The Committee shall make appropriate adjustments in the number of Shares as to which outstanding Options, or portions thereof then unexercised, shall relate, to the end that the Participant's proportionate interest shall be maintained as before the occurrence of such events; such adjustment shall be made without change in the total price applicable to the unexercised portion of Options and with a corresponding adjustment in the Option price per Share. In addition, if the Company is to be consolidated with or acquired by another entity in a merger, sale of all or substantially all of the Company's assets or otherwise, the Committee or the Board of Directors of any entity assuming the obligations of the Company hereunder, may, as to outstanding Options either (i) provide that such Options shall be assumed, or equivalent options shall be substituted, by the acquiring or successor corporation (or an affiliate thereof), (ii) upon written notice to the optionees, provide that all Options must be exercised, to the extent then exercisable, within a specified number of days of the date of such notice, at the end of which period the Options shall terminate, or (iii) terminate all Options in exchange for a cash payment equal to the excess of the Fair Market Value of the Shares subject to such Options (to the extent then exercisable) over the exercise price thereof.

4. <u>Rights as Stockholder</u>. A Participant entitled to Shares as a result of the exercise of an Option shall not be deemed for any purpose to be, or have rights as, a stockholder of the Company by virtue of such exercise, except to the extent a stock certificate is issued therefor and then only from the date such certificate is issued. No adjustments shall be made for dividends or distributions or other rights for which the record date is prior to the date such stock certificate is issued.

5. <u>Expenses</u>. The expenses of this Plan shall be paid by the Company.

6. <u>Withholding</u>. Any person exercising an Option must satisfy all applicable federal, state, and local or other income and employment tax withholding obligations before the Company will deliver stock certificates or otherwise recognize ownership of Common Stock following exercise of the Option. The Company may elect to satisfy the withholding obligations through additional withholding on salary or wages. If the Company elects not to or cannot withhold from other compensation, the Participant must pay the Company the full amount, if any, required for withholding. Payment of withholding obligations is due at the same time as payment of the exercise or purchase price, unless the Company determines otherwise. If provided for in an option agreement or approved by the Committee, a Participant may satisfy the tax obligations in whole or in part by delivery (either by actual delivery or attestation) of shares of Common Stock valued at their fair market value (valued in the manner determined by (or in a manner approved by) the Company). Shares used to satisfy tax withholding requirements cannot be subject to any repurchase, forfeiture, unfulfilled vesting or other similar requirements.

7. <u>Compliance with Applicable Law</u>. Notwithstanding anything herein to the contrary, the Company shall not be obligated to cause to be issued or delivered any certificates evidencing Shares to be delivered pursuant to the exercise of an Option, unless and until the Company is advised by its counsel that the issuance and delivery of such certificates is in compliance with all applicable laws and regulations of governmental authority. The Company shall in no event be obligated to register any securities pursuant to the Securities Act of 1933 (as now in effect or as hereafter amended) or to take any other action in order to cause the issuance and delivery of such certificates to comply with any such law or regulation. The Committee may require, as a condition of the issuance and delivery of such certificates and in order to ensure compliance with such laws and regulations, that the Participant make such covenants, agreements and representations as the Committee, in its sole discretion, deems necessary or desirable.

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8. <u>Application of Funds</u>. Any cash proceeds received by the Company from the sale of Shares pursuant to Options will be used for general corporate purposes.

9. <u>Amendment of this Plan</u>. The Committee may from time to time suspend or discontinue this Plan or revise or amend it in any respect whatsoever except that, without approval of the shareholders, no such revision or amendment shall make any changes requiring stockholder approval under Sections 162(m) or 422 of the Code and no changes shall be made to this Plan which shall make this Plan subject to the provisions of Section 409A of the Code. No such suspension, discontinuance, revision or amendment shall in any manner affect any grant theretofore made without the consent of the Participant or the transferee of the Participant, unless necessary to comply with applicable law.

10. <u>Section 409A Compliance</u>. To the extent that any provision of this Plan violates Section 409A of the Code, such provision shall be deemed inoperative and the remaining provisions of this Plan shall continue to be fully effective.

**2025 STOCK OPTION AND INCENTIVE PLAN** 

**<u>April 7, 2026 Policy Addendum</u>**

At its meeting on April 7, 2026, the Board discussed and approved the following policy preferences for administration of the Plan. These preferred terms (or their substantial equivalent) are to be included in future Option agreements unless, as to a particular Option grant or set of Option grants, the Committee in its discretion decides not to include such terms, or to modify such terms to a greater or lesser degree.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Change in Control</u>. In general, future Option agreements for grants of Options to a Director or Executive Officer of the Company shall provide that in the event of a Change in Control, the Optionee's right to purchase shares subject to this Option shall vest immediately. For purposes hereof, "Change in Control" is presumptively defined to mean any one of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The acquisition by an individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended) (each, a "Person") of beneficial ownership (within the meaning of Rule 13d-3 promulgated under such Act) of 35% or more of either (x) the then-outstanding shares of common stock of the Company (the "Outstanding Company Common Stock") or (y) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the "Outstanding Company Voting Securities"); provided, however, that for purposes of this subsection (ii)(a), the following acquisitions shall <u>not</u> constitute a Change of Control: (1) any acquisition directly from the Company, (2) any acquisition by the Company, (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, or (4) any acquisition by any corporation pursuant to a transaction which satisfies the criteria set forth in clauses (x), (y), and (z) of subsection (ii)(c) below; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. A change in the composition of the Board, as a result of which fewer than one-half of the incumbent directors are directors who either (x) had been directors of the Company 24 months prior to such change or (y) were elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the directors who had been directors of the Company 24 months prior to such change and who were still in office at the time of the election or nomination; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a "Business Combination"), in each case, <u>unless</u>, immediately following such Business Combination, (x) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock or the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than a majority of, respectively, the then-outstanding shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, of the corporation resulting from such Business Combination (which as used in this subsection (ii)(c) shall include, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company's assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock or the Outstanding Company Voting Securities, (y) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination, or the combined voting power of the then-outstanding voting securities of such corporation, and (z) at least half of the members of the board of directors of the corporation resulting from such Business Combination were members of the Company's Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Minimum Vesting Period</u>. In general, future Option agreements for grants of Options to a Director or Executive Officer shall provide for vesting in three equal increments (as nearly as practical) on the first, second, and third anniversaries of the date of grant. In general, no Option shall vest (in whole or in part) in less than one year from the earlier of (i) the date of grant or (ii) in the case of recently hired service providers, the date of commencement of service to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Extension of Exercise Period Upon Retirement of Director in Good Standing</u>. In general, future Option agreements for grants of Options to a Director shall provide that upon termination of the Optionee's service to the Company (as a Director or otherwise), if he/she is in good standing with the Company (as determined by the Board of Directors, in its sole discretion) and has served as an independent director of the Company for at least 48 months, the then-vested portion of such Option will remain exercisable through the remainder of the original term of such Option. Such preferred term does not provide for acceleration of vesting of the Director's previously awarded Options, but the Committee and the Board shall retain discretion to accelerate any Option granted under the Plan.

## Exhibit 31.1

**Exhibit 31.1**

**CERTIFICATION PURSUANT TO REQUIRED BY RULE 13a-14(a)**

I, Paul Olivier te Boekhorst, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this Annual Report on Form 10-K/A [Amendment No. 1] of ImmuCell Corporation (the Company);

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

[Because this Amendment does not include or amend any financial statements or financial information, paragraphs 3, 4, and 5 of this certification have been omitted.]

Date: May 13, 2026

---

| |
|:---|
| <u>/s/ Paul Olivier te Boekhorst</u> |
| Paul Olivier te Boekhorst |
| President and Chief Executive Officer |

---

## Exhibit 31.2

**Exhibit 31.2**

**CERTIFICATION PURSUANT TO REQUIRED BY RULE 13a-14(a)**

I, Timothy C. Fiori, certify that:

1. I have reviewed this Annual Report on Form 10-K/A [Amendment No. 1] of ImmuCell Corporation (the Company);

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

[Because this Amendment does not include or amend any financial statements or financial information, paragraphs 3, 4, and 5 of this certification have been omitted.]

Date: May 13, 2026

---

| |
|:---|
| <u>/s/ Timothy C. Fiori</u> |
| Timothy C. Fiori |
| Chief Financial Officer |

---

## Exhibit 32.1

**Exhibit 32.1**

**CERTIFICATION PURSUANT TO SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906**<br> **OF THE SARBANES- OXLEY ACT OF 2002**

In connection with the Annual Report on Form 10-K/A [Amendment No. 1] of ImmuCell Corporation (the "Company") for the year ended December 31, 2025, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Paul Olivier te Boekhorst, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;(1) the Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended (the "Exchange Act"); and

&nbsp;&nbsp;&nbsp;&nbsp;(2) the information contained in the Report fairly presents, in all material respects, the financial condition, results of operations and cash flows of the Company.

This certification is provided pursuant to 18 U.S.C. Section 1350 and Item 601(b)(32) of Regulation S-K ("Item 601(b)(32)") promulgated under the Securities Act of 1933, as amended (the "Securities Act"), and the Exchange Act. In accordance with clause (ii) of Item 601(b)(32), this certification (A) shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and (B) shall not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act, except to the extent that the Company specifically incorporates it by reference.

---

| |
|:---|
| <u>/s/ Paul Olivier te Boekhorst</u> |
| Paul Olivier te Boekhorst |
| President and Chief Executive Officer |
| May 13, 2026 |

---

A signed original of this written statement required by Section 906 has been provided to ImmuCell Corporation and will be retained by ImmuCell Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

## Exhibit 32.2

**Exhibit 32.2**

**CERTIFICATION PURSUANT TO SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906**<br> **OF THE SARBANES- OXLEY ACT OF 2002**

In connection with the Annual Report on Form 10-K/A [Amendment No. 1] of ImmuCell Corporation (the "Company") for the year ended December 31, 2025, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Timothy C. Fiori, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended (the "Exchange Act"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the information contained in the Report fairly presents, in all material respects, the financial condition, results of operations and cash flows of the Company.

This certification is provided pursuant to 18 U.S.C. Section 1350 and Item 601(b)(32) of Regulation S-K ("Item 601(b)(32)") promulgated under the Securities Act of 1933, as amended (the "Securities Act"), and the Exchange Act. In accordance with clause (ii) of Item 601(b)(32), this certification (A) shall not be deemed "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and (B) shall not be deemed to be incorporated by reference into any filing under the Securities Act or the Exchange Act, except to the extent that the Company specifically incorporates it by reference.

---

| |
|:---|
| <u>/s/ Timothy C. Fiori</u> |
| Timothy C. Fiori |
| Chief Financial Officer |
| May 13, 2026 |

---

A signed original of this written statement required by Section 906 has been provided to ImmuCell Corporation and will be retained by ImmuCell Corporation and furnished to the Securities and Exchange Commission or its staff upon request.