MCLAUGHLIN KEVIN F 4

What Happened

• Kevin F. McLaughlin, a Vericel (VCEL) director, exercised stock options and sold shares on Feb 11, 2026. He exercised 7,000 options with a $2.63 strike (cost $18,410) and an additional 7,000 shares reported as acquired via conversion at $0.00. He sold 7,000 shares in the open market at $34.66 each, for proceeds of $242,620. The sale was effected under a Rule 10b5-1 trading plan.

Key Details

• Transaction date: 2026-02-11.
• Option exercise: 7,000 shares at $2.63 (total cost $18,410) and 7,000 shares reported as acquired at $0.00 (derivative).
• Sale: 7,000 shares at $34.66 — proceeds $242,620.
• Footnotes: Sale executed under an automatic Rule 10b5-1 plan adopted March 11, 2024 (F1). The options relate to a 5/3/2017 grant covering 17,500 shares that vested in monthly installments (F2).
• Shares owned after the transactions: not specified in the Form 4 filing.
• Filing: Form 4 filed 2026-02-13 for the 2026-02-11 transaction (appears timely).

Context

• Code meanings: M = option exercise/conversion; S = sale. The exercise and sale occurred the same day, which is commonly seen when insiders exercise options and immediately sell shares (often to cover exercise costs or taxes). Sales under a 10b5-1 plan are pre-arranged trading programs and are typically considered routine. Purchases generally carry more informational weight than routine sales; this filing documents an exercised option followed by an executed sale.