Rubino Alan L 4

What Happened

• Alan L. Rubino, a director of Vericel Corp (VCEL), exercised stock options to acquire a total of 30,000 shares on March 25, 2026.
• The filing reports two option exercises: 15,000 shares at an exercise price of $2.76 (cash paid $41,400) and 15,000 shares at $0.00 (no cash reported). Rubino elected to hold the shares rather than sell them.

Key Details

• Transaction date: 2026-03-25; Form 4 filed: 2026-03-27 (timely filing).
• Reported transaction code: M (option exercise).
• Shares acquired: 30,000 total (15,000 @ $2.76; 15,000 @ $0.00). Total cash paid reported: $41,400.
• Shares owned after the transaction: not specified in the supplied summary (not disclosed here).
• Footnotes from the filing:
  • F1: The reporting person elected to exercise and hold these shares.
  • F2: The options for 15,000 shares were originally granted May 4, 2016 and vested in equal monthly installments June 4, 2016–May 4, 2017, subject to continued service.
  • F3: Those options would otherwise expire on May 4, 2026.
• Filing appears timely (filed within two business days of the trade).

Context

• An "exercise" means the insider converted previously granted options into common shares. These shares were not sold immediately (the reporting person elected to hold), so this is an acquisition of stock rather than a disposition.
• One tranche shows a $0.00 exercise price in the filing (no cash paid for that set of shares as reported). The filing does not explain the reason for the $0 exercise price beyond the footnotes.