Benjamin T. Dake - Nov 7, 2022 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
Officer Title: President, Chief Operating Officer and Secretary
Signature
/s/ George A. Eldridge, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Nov 7, 2022
Transactions value $
-$419,677
Form type
4
Date filed
11/9/2022, 04:00 PM
Previous filing
Oct 20, 2022
Next filing
Nov 14, 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $4.2K +2.41K $1.74* 2.41K Nov 7, 2022 Direct F1
transaction AVTE Common Stock Options Exercise $32.6K +15.2K +630.5% $2.14* 17.6K Nov 7, 2022 Direct F1
transaction AVTE Common Stock Sale -$198K -11.1K -63.1% $17.79 6.51K Nov 7, 2022 Direct F1, F2
transaction AVTE Common Stock Sale -$62.4K -3.36K -51.64% $18.58 3.15K Nov 7, 2022 Direct F1, F3
transaction AVTE Common Stock Sale -$29.1K -1.49K -47.23% $19.57 1.66K Nov 7, 2022 Direct F1, F4
transaction AVTE Common Stock Sale -$33.6K -1.66K -100% $20.24 0 Nov 7, 2022 Direct F1, F5
transaction AVTE Common Stock Options Exercise $17.9K +8.37K $2.14* 8.37K Nov 8, 2022 Direct F1
transaction AVTE Common Stock Sale -$151K -8.37K -100% $18.09 0 Nov 8, 2022 Direct F1, F6

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 AVTE Stock Option (Right to Buy) Options Exercise $0 -905 -6.66% $0.00 12.7K Nov 7, 2022 Common Stock 906 $1.74 Direct F1, F7
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -1.51K -4.55% $0.00 31.6K Nov 7, 2022 Common Stock 1.51K $1.74 Direct F1, F8
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -1.02K -3.34% $0.00 29.5K Nov 7, 2022 Common Stock 1.02K $2.14 Direct F1, F9
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -14.2K -4.74% $0.00 285K Nov 7, 2022 Common Stock 14.2K $2.14 Direct F1, F10
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -8.37K -2.94% $0.00 277K Nov 8, 2022 Common Stock 8.37K $2.14 Direct F1, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on April 14, 2022.
F2 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $17.055 to $18.05, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F3 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $18.07 to $19.01, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F4 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $19.10 to $20.07, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F5 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $20.11 to $20.56, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F6 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $17.555 to $18.510, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F7 A total of 48,293 shares subject to an employee stock option were granted on September 4, 2020, with 10% of the shares vested on January 1, 2020, an additional 22.5% of the shares vested on January 1, 2021, and the remainder vesting in 36 substantially equal monthly installments thereafter.
F8 A total of 72,325 shares subject to an employee stock option were granted on September 4, 2020, with 25% of the shares vested on August 1, 2021, and the remainder vesting in 36 substantially equal monthly installments thereafter.
F9 A total of 48,882 shares subject to an employee stock option were granted on April 2, 2021, with the first installment vested on May 2, 2021, with shares vesting in 48 substantially equal monthly installments.
F10 A total of 328,921 shares subject to an employee stock option were granted on April 2, 2021, with the first installment vested on July 4, 2021, and with shares vesting in 48 substantially equal monthly installments.

Remarks:

Officer Title: President, Chief Operating Officer and Secretary