Jeffrey Chodakewitz - 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, 06:04 PM
Previous filing
Jun 16, 2023
Next filing
Jun 6, 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 -30K -100% $0.00* 0 Aug 14, 2023 Common Stock 30K $16.11 Direct F1, F2
transaction ACET Stock Option (Right to Buy) Award $0 +30K $0.00 30K Aug 14, 2023 Common Stock 30K $2.14 Direct F1, F2, F3
transaction ACET Stock Option (Right to Buy) Disposed to Issuer $0 -18.5K -100% $0.00* 0 Aug 14, 2023 Common Stock 18.5K $15.93 Direct F1, F4
transaction ACET Stock Option (Right to Buy) Award $0 +18.5K $0.00 18.5K Aug 14, 2023 Common Stock 18.5K $2.14 Direct F1, F3, F4
transaction ACET Stock Option (Right to Buy) Disposed to Issuer $0 -18.5K -100% $0.00* 0 Aug 14, 2023 Common Stock 18.5K $11.49 Direct F1, F4
transaction ACET Stock Option (Right to Buy) Award $0 +18.5K $0.00 18.5K Aug 14, 2023 Common Stock 18.5K $2.14 Direct F1, F3, F4
transaction ACET Stock Option (Right to Buy) Disposed to Issuer $0 -26.4K -100% $0.00* 0 Aug 14, 2023 Common Stock 26.4K $5.20 Direct F1, F5
transaction ACET Stock Option (Right to Buy) Award $0 +26.4K $0.00 26.4K Aug 14, 2023 Common Stock 26.4K $2.14 Direct F1, F3, F5
* 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 September 17, 2020, 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.
F4 The shares subject to this option are fully vested and exercisable as of the date hereof.
F5 The shares subject to this option shall vest in full on the earlier to occur of (a) June 1, 2024 or (b) the date of the Issuer's 2024 annual meeting of stockholders, subject to the Reporting Person's continued service on the Issuer's Board of Directors as of the applicable vesting date.