Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response... 0.5
	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 * Pennell Sandra	2. Date of Event Requiring Statement (MM/DD/YYYY) 9/30/2020	3. Issuer Name and Ticker or Trading Symbol Vericel Corp [VCEL]
(Last)        (First)        (Middle) C/O VERICEL CORPORATION, 64 SIDNEY STREET	4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                          _____ 10% Owner ___X___ Officer (give title below)        _____ Other (specify below) VP and Corporate Controller /
(Street) CAMBRIDGE, MA 02139       (City)              (State)              (Zip)	5. 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 Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	3440	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	6/17/2017 (1)	5/22/2027	Common Stock	3300	$2.65	D
Stock Option (right to buy)	6/20/2019 (2)	3/20/2029	Common Stock	10822	$18.51	D
Stock Option (right to buy)	6/20/2019 (2)	3/20/2029	Common Stock	9178	$18.51	D
Stock Option (right to buy)	6/21/2018 (3)	3/21/2028	Common Stock	21000	$11.10	D
Stock Option (right to buy)	6/18/2020 (4)	3/18/2030	Common Stock	10312	$7.25	D
Stock Option (right to buy)	6/18/2020 (4)	3/18/2030	Common Stock	4688	$7.25	D
Stock Option (right to buy)	6/18/2016 (5)	3/18/2026	Common Stock	7900	$4.61	D
Stock Option (right to buy)	6/17/2017 (1)	3/17/2027	Common Stock	7700	$2.90	D
Stock Option (right to buy)	2/11/2016 (6)	2/11/2025	Common Stock	20000	$3.63	D
Restricted Stock Unit	(8)	(9)	Common Stock	1500	(7)	D
Restricted Stock Unit	(10)	(9)	Common Stock	2000	(7)	D

Explanation of Responses:
(1)	These options began vesting on March 17, 2017 and shall vest and become exercisable in equal quarterly installments over the course of the following four (4) year period.
(2)	These options began vesting on March 20, 2019 and shall vest and become exercisable in equal quarterly installments over the course of the following four (4) year period.
(3)	These options began vesting on March 21, 2018 and shall vest and become exercisable in equal quarterly installments over the course of the following four (4) year period.
(4)	These options began vesting on March 18, 2020 and shall vest and become exercisable in equal quarterly installments over the course of the following four (4) year period.
(5)	These options began vesting on March 18, 2016 and shall vest and become exercisable in equal quarterly installments over the course of the following four (4) year period.
(6)	These options, representing the right to purchase 20,000 shares, became exercisable on February 11, 2016, the first anniversary of the date of grant, with 25% vesting and the remaining 75% vesting in equal quarterly installments over three years thereafter.
(7)	Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of common stock of Vericel Corporation.
(8)	These RSUs vest in four annual installments. The first installment of RSUs vested on March 20, 2020 and are shown in the holdings reported in Table I. The remaining 1,500 RSUs will vest in annual installments on March 20, 2021, March 20, 2022, and March 20, 2023, respectively.
(9)	No expiration date for this type of award.
(10)	These RSUs vest in four annual installments with 500 RSUs vesting on March 18, 2021, March 18, 2022, March 18, 2023 and March 18, 2024, respectively.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Pennell Sandra C/O VERICEL CORPORATION 64 SIDNEY STREET CAMBRIDGE, MA 02139			VP and Corporate Controller

Signatures
/s/ Sandra L. Pennell		10/2/2020
**Signature of Reporting Person		Date