Iwicki Mark T. - 02 Apr 2021 Form 4 Insider Report for Aerovate Therapeutics, Inc. (JBIO)

Role
Director
Signature
/s/ George A. Eldridge, Attorney-in-Fact
Issuer symbol
JBIO
Transactions as of
02 Apr 2021
Net transactions value
$0
Form type
4
Filing time
01 Jul 2021, 18:33:28 UTC
Next filing
02 Jun 2021
SEC
View on sec.gov

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
transaction AVTE Stock Option (Right to Buy) Award $0 +39,550 $0.000000 39,550 02 Apr 2021 Common Stock 39,550 $2.14 Direct F1, F2, F3
transaction AVTE Stock Option (Right to Buy) Award $0 +76,747 $0.000000 76,747 02 Apr 2021 Common Stock 76,747 $2.14 Direct F1, F2, F4
transaction AVTE Stock Option (Right to Buy) Award $0 +42,200 $0.000000 42,200 29 Jun 2021 Common Stock 42,200 $14.00 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 22, 2021, the Issuer completed a one-for-3.1060103 reverse stock split of the Issuer's Common Stock (the "Reverse Split"). This amount has been adjusted to give effect to the Reverse Split.
F2 This transaction occurred prior to the Issuer's initial public offering, and is being reported on Form 4 solely for purposes of compliance with Rule 16a-2(a) under the Securities Exchange Act of 1934, as amended. The securities covered by such transaction were previously included on the Reporting Person's Form 3.
F3 This option shall vest and become exercisable in 48 substantially equal monthly installments, with the first installment vested on March 12, 2021.
F4 This option shall vest and become exercisable in 48 substantially equal monthly installments, with the first installment vesting on July 4, 2021.
F5 This option shall vest and become exercisable in 48 substantially equal monthly installments, with the first installment vesting on July 29, 2021.