FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Laing Lance G.		 2. Issuer Name and Ticker or Trading Symbol

Celcuity Inc. [ CELC ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    __X__ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chief Science Officer
(Last)          (First)          (Middle)

16305 36TH AVENUE N., SUITE 100		 3. Date of Earliest Transaction (MM/DD/YYYY)

2/16/2023
(Street)

MINNEAPOLIS, MN 55446
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
 6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock         1250000 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)		2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)		8. Price of Derivative Security
(Instr. 5)		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option (right to buy) $8.4000            (1)5/17/2027 Common Stock 16125  16125 D  
Stock Option (right to buy) $5.50            (1)9/19/2027 Common Stock 4110  4110 D  
Stock Option (right to buy) $5.50            (1)10/17/2028 Common Stock 1834  1834 D  
Stock Option (right to buy) $5.50            (2)8/12/2029 Common Stock 50000  50000 D  
Stock Option (right to buy) $5.9000            (3)8/12/2030 Common Stock 20000  20000 D  
Stock Option (right to buy) $5.50            (4)12/28/2030 Common Stock 2771  2771 D  
Stock Option (right to buy) $5.50            (5)2/2/2031 Common Stock 3215  3215 D  
Stock Option (right to buy) $5.50            (6)3/18/2031 Common Stock 2973  2973 D  
Stock Option (right to buy) $5.50            (7)4/12/2031 Common Stock 6754  6754 D  
Stock Option (right to buy) $5.50            (8)8/11/2031 Common Stock 20000  20000 D  
Stock Option (right to buy) $5.50            (9)10/27/2031 Common Stock 1877  1877 D  
Stock Option (right to buy) $5.50            (10)5/17/2032 Common Stock 38412  38412 D  
Stock Option (right to buy) $11.55 2/16/2023  A   9156     (11)2/16/2033 Common Stock 9156 $0 9156 D  
Explanation of Responses:
(1) Fully vested.
(2) 12,500 shares vest on 8/12/20; the remaining 37,500 shares vest 1/36th per month thereafter.
(3) 5,000 shares vest on 8/12/21; the remaining 15,000 shares vest 1/36th per month thereafter.
(4) 692 shares vest on 12/29/21; the remaining 2,079 shares vest 1/36th per month thereafter.
(5) 803 shares vest on 2/2/22; the remaining 2,412 shares vest 1/36th per month thereafter.
(6) 743 shares vest on 3/18/22; the remaining 2,230 shares vest 1/36th per month thereafter.
(7) 1,689 shares vest on 4/12/22; the remaining 5,065 shares vest 1/36th per month thereafter.
(8) 5,000 shares vest on 8/11/22; the remaining 15,000 shares vest 1/36th per month thereafter.
(9) 469 shares vest on 10/27/22; the remaining 1,408 shares vest 1/36th per month thereafter.
(10) These shares vest in equal amounts over fourteen (14) months, beginning June 1, 2022.
(11) These shares vest in equal amounts over twelve (12) months, beginning February 16, 2023.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Laing Lance G.
16305 36TH AVENUE N.
SUITE 100
MINNEAPOLIS, MN 55446		XXChief Science Officer
Signatures
/s/ Eric O. Madson as Attorney-in-Fact for Lance G. Laing pursuant to Power of Attorney previously filed.2/21/2023
**Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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