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

Reporting relationship: Director
Issuer ticker: ACET
Reported as of: 14 Aug 2023
Net transaction value: $0
SEC form: 4
Accepted by SEC: 16 Aug 2023, 18:07:52 UTC
Prior SEC filing: 02 Jun 2023
Next SEC filing: 07 Jun 2024
Source filing: View source filing
Reporting owner signature: /s/ Nick Harvey, Attorney-in-Fact

Key filing fact

Andrew Sinclair filed Form 4 for Adicet Bio, Inc. (ACET) on 16 Aug 2023.

Key facts

This page summarizes Andrew Sinclair's Form 4 filing for Adicet Bio, Inc. (ACET).
10 reported transactions and 10 derivative rows are listed below.
Accepted by SEC: 16 Aug 2023, 18:07.

Change

Previous filing in this sequence was filed on 02 Jun 2023.
Current net transaction value: $0.

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 derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

ACET transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value: $0
Shares: -28,828
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 14 Aug 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 28,828
Exercise price: $15.75
Footnotes: F1, F2

ACET transaction Derivative

Stock Option (Right to Buy)

Award

Transaction value: $0
Shares: +28,828
Change %
Price: $0.000000
Shares after: 28,828
Date: 14 Aug 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 28,828
Exercise price: $2.14
Footnotes: F1, F2, F3

ACET transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value: $0
Shares: -18,500
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 14 Aug 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 18,500
Exercise price: $15.93
Footnotes: F1, F4

ACET transaction Derivative

Stock Option (Right to Buy)

Award

Transaction value: $0
Shares: +18,500
Change %
Price: $0.000000
Shares after: 18,500
Date: 14 Aug 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 18,500
Exercise price: $2.14
Footnotes: F1, F3, F4

ACET transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value: $0
Shares: -8,172
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 14 Aug 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 8,172
Exercise price: $15.93
Footnotes: F1, F5

ACET transaction Derivative

Stock Option (Right to Buy)

Award

Transaction value: $0
Shares: +8,172
Change %
Price: $0.000000
Shares after: 8,172
Date: 14 Aug 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 8,172
Exercise price: $2.14
Footnotes: F1, F3, F5

ACET transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value: $0
Shares: -18,500
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 14 Aug 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 18,500
Exercise price: $11.49
Footnotes: F1, F4

ACET transaction Derivative

Stock Option (Right to Buy)

Award

Transaction value: $0
Shares: +18,500
Change %
Price: $0.000000
Shares after: 18,500
Date: 14 Aug 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 18,500
Exercise price: $2.14
Footnotes: F1, F3, F4

ACET transaction Derivative

Stock Option (Right to Buy)

Disposed to Issuer

Transaction value: $0
Shares: -26,400
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 14 Aug 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 26,400
Exercise price: $5.20
Footnotes: F1, F6

ACET transaction Derivative

Stock Option (Right to Buy)

Award

Transaction value: $0
Shares: +26,400
Change %
Price: $0.000000
Shares after: 26,400
Date: 14 Aug 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 26,400
Exercise price: $2.14
Footnotes: F1, F3, F6

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 6 footnotes

Footnote 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.

Footnote F2

33% of the shares subject to this option vested and became exercisable on March 2, 2022, with the remaining 67% vesting in twenty-four (24) equal monthly installments thereafter, subject to the Reporting Person's continued service on the Issuer's Board of Directors as of the applicable vesting date.

Footnote 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.

Footnote F4

The shares subject to this option are fully vested and exercisable as of the date hereof.

Footnote F5

The shares subject to this option shall vest in thirty-six (36) equal monthly installments commencing on March 2, 2021, subject to the Reporting Person's continued service on the Issuer's Board of Directors as of the applicable vesting date.

Footnote F6

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.