Katie Peng - Aug 14, 2023 Form 4 Insider Report for Adicet Bio, Inc. (ACET)

Role
Director
Signature
/s/ Nick Harvey, Attorney-in-Fact
Stock symbol
ACET
Transactions as of
Aug 14, 2023
Transactions value $
$0
Form type
4
Date filed
8/16/2023, 06:03 PM
Previous filing
Jul 11, 2023
Next filing
Feb 15, 2024

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 ACET Stock Option (Right to Buy) Disposed to Issuer $0 -70.2K -100% $0.00* 0 Aug 14, 2023 Common Stock 70.2K $3.38 Direct F1, F2
transaction ACET Stock Option (Right to Buy) Award $0 +70.2K $0.00 70.2K Aug 14, 2023 Common Stock 70.2K $2.14 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 8, 2023, the Issuer's Board of Directors approved an option repricing (the "Repricing"), effective as of August 14, 2023 (the "Effective Date"). All of the other terms of the options remain unchanged. Such transactions were exempt pursuant to Rule 16b-6(d) and Rule 16b-3 of the Exchange Act, as applicable.
F2 The shares subject to this option shall vest in thirty-six (36) equal monthly installments commencing on July 10, 2023, subject to the Reporting Person's continued service on the Issuer's Board of Directors as of the applicable vesting date.
F3 The exercise price of the option is $2.14 per share, representing the fair market value per share of the Issuer's Common Stock on the Effective Date; provided that the repriced option will revert to its original exercise price if, prior to the first anniversary of the Effective Date, (a) the Reporting Person's service on the Issuer's Board of Directors is terminated by the Issuer with cause or by the Reporting Person or (b) the option is exercised.