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 *

MCLAUGHLIN KEVIN F
2. Issuer Name and Ticker or Trading Symbol

Vericel Corp [ VCEL ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

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

C/O VERICEL CORPORATION, 64 SIDNEY STREET
3. Date of Earliest Transaction (MM/DD/YYYY)

4/29/2020
(Street)

CAMBRIDGE, MA 02139
(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 4/29/2020  M  1750 A$0 (1)1750 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
Restricted Stock Unit  (2)4/29/2020  M     1750   (3) (4)Common Stock 1750 $14.56 0 D  
Stock Option (right to buy) $14.56 4/29/2020  A   13125     (5)4/29/2030 Common Stock 13125 $0 13125 D  
Restricted Stock Unit  (2)4/29/2020  A   1750     (6) (4)Common Stock 1750 $0 1750 D  

Explanation of Responses:
(1) The shares of common stock were acquired by the Reporting Person as a result of the vesting of Restricted Stock Units granted to the Reporting Person on May 1, 2019.
(2) Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of common stock of Vericel Corporation.
(3) These RSUs vest 100% on the earlier of May 1, 2020 or the date of the first Annual Meeting of Stockholders following May 1, 2019. The first Annual Meeting of Stockholders occurred on April 29, 2020.
(4) No expiration date for this type of award.
(5) The option vests over a 1-year period, in equal monthly increments, contingent upon continued service to the Company.
(6) These RSUs vest 100% on the earlier of April 29, 2021 or the date of the first Annual Meeting of Stockholders following April 29, 2020.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
MCLAUGHLIN KEVIN F
C/O VERICEL CORPORATION
64 SIDNEY STREET
CAMBRIDGE, MA 02139
X



Signatures
/s/ Dominick C. Colangelo, Attorney-in-Fact for Kevin McLaughlin5/1/2020
**Signature of Reporting PersonDate

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