Halpin Michael 4

What Happened
Michael Halpin, COO of Vericel (VCEL), reported exercise/conversion of derivatives and an open-market sale on June 18, 2026. He exercised/converted two blocks of 10,000 shares (one at $16.66 per share, cost $166,600; one reported at $0.00), and sold 10,000 shares in the open market at $40.24 per share for proceeds of $402,400. Based on the reported transactions he acquired 20,000 shares and sold 10,000 shares (a net increase of 10,000 shares); the filing does not state post-transaction total holdings.

Key Details

• Transaction date: 2026-06-18 (reported on Form 4 filed 2026-06-22 — timely within required reporting window).
• Exercises/conversions (code M): 10,000 shares @ $16.66 (cost $166,600) and 10,000 shares @ $0.00 (reported as derivative conversion).
• Sale (code S): 10,000 shares @ $40.24, proceeds $402,400. Sale was effected automatically under a Rule 10b5-1 trading plan (footnote F2).
• Footnotes from the filing:
  • F1: Some shares reflect acquisitions under the Issuer’s 2015 Employee Stock Purchase Plan (exempt under Rule 16b-3).
  • F2: The sale was effected automatically pursuant to a Rule 10b5-1 plan adopted Dec 2, 2025.
  • F3: The options referenced represent rights to purchase 76,250 shares that vested in quarterly installments (first vesting May 6, 2019).
• Post-transaction holdings: Not specified in the supplied filing text.

Context

• The filing shows option exercise/derivative conversion followed by an automatic sale of a portion of shares — a common pattern when exercising and monetizing some shares. The 10b5-1 plan note indicates the sale was pre-arranged, which can limit inference about timing or intent.
• M code denotes exercise/conversion of a derivative (options); S is a sale. No indication of gifting or tax-withholding transactions was provided in the supplied details.