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

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, 06:10 PM
Previous filing
Jan 26, 2023
Next filing
Oct 16, 2023

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 -50K -100% $0.00* 0 Aug 14, 2023 Common Stock 50K $15.93 Direct F1, F2
transaction ACET Stock Option (Right to Buy) Award $0 +50K $0.00 50K Aug 14, 2023 Common Stock 50K $2.14 Direct F1, F2, F3
transaction ACET Stock Option (Right to Buy) Disposed to Issuer $0 -56.6K -100% $0.00* 0 Aug 14, 2023 Common Stock 56.6K $7.38 Direct F1, F4
transaction ACET Stock Option (Right to Buy) Award $0 +56.6K $0.00 56.6K Aug 14, 2023 Common Stock 56.6K $2.14 Direct F1, F3, F4
transaction ACET Stock Option (Right to Buy) Disposed to Issuer $0 -125K -100% $0.00* 0 Aug 14, 2023 Common Stock 125K $15.52 Direct F1, F5
transaction ACET Stock Option (Right to Buy) Award $0 +125K $0.00 125K Aug 14, 2023 Common Stock 125K $2.14 Direct F1, F3, F5
transaction ACET Stock Option (Right to Buy) Disposed to Issuer $0 -60K -100% $0.00* 0 Aug 14, 2023 Common Stock 60K $12.18 Direct F1, F6
transaction ACET Stock Option (Right to Buy) Award $0 +60K $0.00 60K Aug 14, 2023 Common Stock 60K $2.14 Direct F1, F3, F6
transaction ACET Stock Option (Right to Buy) Disposed to Issuer $0 -117K -100% $0.00* 0 Aug 14, 2023 Common Stock 117K $9.05 Direct F1, F7
transaction ACET Stock Option (Right to Buy) Award $0 +117K $0.00 117K Aug 14, 2023 Common Stock 117K $2.14 Direct F1, F3, F7
* 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 A total of 60,000 shares subject to an employee stock option were granted to the Reporting Person on October 12, 2021, with 25% of the shares subject to this option vested and exercisable on April 5, 2022, and the remaining 75% vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date. The Reporting Person previously exercised 3,388 shares subject to this option.
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 employment is terminated by the Issuer with cause or by the Reporting Person or (b) the option is exercised.
F4 25% of the shares subject to this option vested and became exercisable on October 12, 2022, with the remaining 75% vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.
F5 25% of the shares subject to this option vested and became exercisable on January 7, 2023, with the remaining 75% vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.
F6 25% of the shares subject to this option vested and became exercisable on April 29, 2023, with the remaining 75% vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.
F7 The shares subject to this option shall vest in forty-eight (48) equal installments on each monthly anniversary following January 24, 2023, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.