Halpin Michael 4

What Happened
Michael Halpin, Chief Operating Officer of Vericel Corporation (VCEL), had restricted stock units (RSUs) vest on February 24, 2026 and converted those RSUs into common shares. The Form 4 shows two vesting events of 5,250 RSUs each (totaling 10,500 RSUs) tied to prior grants; no exercise price was paid. To satisfy tax withholding, a total of 4,972 shares were withheld (disposed) at prices of $38.09 and $38.25, totaling $189,782. Based on the filing, the vested RSUs had a combined fair market value of roughly $400,785, leaving approximately 5,528 net shares delivered to Halpin after withholding.

Key Details

• Transaction date: February 24, 2026 (Form 4 filed Feb 26, 2026 — filed timely within standard 2 business days).
• Vesting/conversion: two entries of 5,250 RSUs converted to common stock (each RSU = 1 share; footnotes F1, F4, F5).
• Tax withholding (sales): 2,486 shares withheld at $38.09 = $94,692 (footnote F7) and 2,486 shares withheld at $38.25 = $95,090 (footnote F8); total withheld value = $189,782 (footnote F3 explains withholding).
• No exercise price paid (listed as $0); these were RSU vesting/settlement events (derivative code M).
• Remaining unvested RSUs: per footnotes, additional RSU installments remain scheduled in 2027–2029 for the referenced grants (F1, F4).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Other footnotes: F6 notes no expiration for this award type.

Context
This was a routine RSU vesting and tax-withholding transaction, not an open-market sale or discretionary sale by the insider. In practice, companies commonly withhold or sell a portion of vested RSUs to cover required taxes; such withholding does not necessarily indicate a change in the insider’s view of the company.