Chen Schor - 04 Aug 2022 Form 4 Insider Report for Adicet Bio, Inc. (ACET)

Reporting relationship: President & CEO, Director
Issuer ticker: ACET
Reported as of: 04 Aug 2022
Net transaction value: -$388,506
SEC form: 4
Accepted by SEC: 08 Aug 2022, 20:32:56 UTC
Prior SEC filing: 20 May 2022
Next SEC filing: 13 Sep 2022
Source filing: View source filing
Reporting owner signature: /s/ Nick Harvey, Attorney-in-Fact

Key filing fact

Chen Schor filed Form 4 for Adicet Bio, Inc. (ACET) on 08 Aug 2022.

Key facts

This page summarizes Chen Schor's Form 4 filing for Adicet Bio, Inc. (ACET).
4 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 08 Aug 2022, 20:32.

Change

Previous filing in this sequence was filed on 20 May 2022.
Current net transaction value: -$388,506.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

ACET transaction

Common Stock

Gift

Transaction value: $0
Shares: -53,424
Change %: -36%
Price: $0.000000
Shares after: 96,000
Date: 06 Jul 2022
Ownership: Direct
Footnotes: F1

ACET transaction

Common Stock

Gift

Transaction value: $0
Shares: +53,424
Change %: +59%
Price: $0.000000
Shares after: 143,260
Date: 06 Jul 2022
Ownership: See Footnote
Footnotes: F1, F2

ACET transaction

Common Stock

Award

Transaction value: $0
Shares: +48,000
Change %: +50%
Price: $0.000000
Shares after: 144,000
Date: 04 Aug 2022
Ownership: Direct
Footnotes: F3

ACET transaction

Common Stock

Tax liability

Transaction value: $388,506
Shares: -21,288
Change %: -15%
Price: $18.25
Shares after: 122,712
Date: 04 Aug 2022
Ownership: Direct

ACET holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 74,841
Date: 04 Aug 2022
Ownership: See Footnote
Footnotes: F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

Represents the transfer of shares held by the Reporting Person to The C. Schor IRRV Trust for no consideration.

Footnote F2

Represents shares held directly by The C. Schor IRRV Trust, an irrevocable family trust having an independent trustee.

Footnote F3

The Reporting Person was issued 240,000 Restricted Stock Units ("RSUs") on October 1, 2021, as previously reported on a Form 4 filed by the Reporting Person on October 5, 2021. Each RSU represents a contingent right to receive one share of common stock. A total of 96,000 of the RSUs shall vest in two (2) annual installments of 20% of the shares vesting, with the first tranche vesting on October 1, 2022 and the second tranche vesting on October 1, 2023. A total of 144,000 of the RSUs shall vest upon achievements of specific milestones outlined in the Reporting Person's Restricted Stock Unit Agreement. On August 4, 2022, upon the occurrence of the third performance milestone, 48,000 of the RSUs vested. The RSUs may be settled only by delivering shares of common stock, and thus, the grant is being reported in Table I as allowed per SEC guidance.

Footnote F4

Represents shares held directly by The I. Schor IRRV Trust, an irrevocable family trust having an independent trustee.

SEC remarks

The Reporting Person's Form 4s filed on October 5, 2021, January 11, 2022, February 1, 2022 and February 16, 2022 inadvertently omitted the Reporting Person's indirect holdings of common stock held by The C. Schor IRRV Trust and The I. Schor IRRV Trust (the "Trusts"), both of which are irrevocable family trusts having independent trustees. There have been no changes to the holdings of the Trusts since the Form 4 filed by the Reporting Person on June 21, 2021, other than as reported on this Form 4.