Benjamin T. Dake - Jun 29, 2021 Form 3 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
Officer Title: President, Chief Operating Officer and Secretary Exhibit 24 - Power of Attorney
Signature
/s/ George A. Eldridge, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Jun 29, 2021
Transactions value $
$0
Form type
3
Date filed
6/29/2021, 07:39 PM
Previous filing
Jul 1, 2021
Next filing
Dec 16, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding AVTE Stock Option (Right to Buy) Jun 29, 2021 Common Stock 48.3K $1.74 Direct F1
holding AVTE Stock Option (Right to Buy) Jun 29, 2021 Common Stock 72.3K $1.74 Direct F2
holding AVTE Stock Option (Right to Buy) Jun 29, 2021 Common Stock 48.9K $2.14 Direct F3
holding AVTE Stock Option (Right to Buy) Jun 29, 2021 Common Stock 329K $2.14 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 10% of this option vested and became exercisable on January 1, 2020, with an additional 22.5% vested on January 1, 2021 and the remainder vesting in 36 monthly installments thereafter.
F2 25% of this option shall vest and become exercisable on August 1, 2021, with the remainder vesting in 36 substantially equal monthly installments thereafter.
F3 This option shall vest in 48 substantially equal monthly installments, with the first installment vested on May 2, 2021.
F4 This option shall vest in 48 substantially equal monthly installments, with the first installment vesting on July 4, 2021.

Remarks:

Officer Title: President, Chief Operating Officer and Secretary Exhibit 24 - Power of Attorney