Form 4: ImmuCell Director Exercises Stock Options, Acquires 3,530 Shares

ImmuCell Corporation Director Gloria F Basse exercised non-qualified stock options to acquire 3,530 shares of common stock through a net exercise transaction.

Summary

• Director Gloria F Basse of ImmuCell Corporation (ICCC) exercised non-qualified stock options on June 11, 2025.
• She acquired 3,530 shares of ICCC common stock at an exercise price of $4.81 per share.
• This was a net exercise transaction, where 11,470 shares were withheld by the issuer at a price of $6.29 per share (the closing price on the exercise date) to cover the exercise cost.
• The original stock option was for 15,000 shares, granted on June 29, 2023, and set to expire on June 29, 2025.
• Following this transaction, Ms. Basse directly beneficially owns 3,530 shares of common stock.

Sentiment

Score: 6

Explanation: The exercise of stock options by a director is generally a neutral to slightly positive signal, indicating confidence in the company's value. However, the net exercise method suggests the director is not injecting new capital into the company.

Positives

• A director is increasing their direct ownership in the company, which can be seen as a vote of confidence in the company's future performance.
• The exercise price of $4.81 per share is lower than the $6.29 per share value at which shares were withheld, indicating the options were in-the-money and profitable for the director.

Negatives

• The transaction was a net exercise, meaning the director did not use personal cash to acquire the shares but rather used a portion of the shares themselves, which can be interpreted as a desire to limit out-of-pocket expenses or diversify holdings rather than make a new cash investment.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing is a routine insider transaction report and does not provide information relevant to broader industry trends or competitive dynamics within the animal health or biotechnology sectors.

Related Party Transactions

• The exercise of non-qualified stock options by Director Gloria F Basse is a related party transaction between the director and ImmuCell Corporation.

Stakeholder Impact

• Shareholders: May view the director's exercise of options as a positive signal of confidence in the company's stock value, although the net exercise means no new cash investment from the director.

Key Dates

Keywords

ImmuCell Corporation, ICCC, SEC Form 4, Insider Trading, Stock Options, Net Exercise, Beneficial Ownership, Director Stock Acquisition, Corporate Governance