Timothy P. Noyes - 01 Dec 2022 Form 4 Insider Report for Aerovate Therapeutics, Inc. (JBIO)

Role: CHIEF EXECUTIVE OFFICER, Director
Signature: /s/ George A. Eldridge, Attorney-in-Fact
Issuer symbol: JBIO
Transactions as of: 01 Dec 2022
Net transactions value: -$237,900
Form type: 4
Filing time: 02 Dec 2022, 18:00:22 UTC
Previous filing: 03 Nov 2022
Next filing: 05 Jan 2023
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	$32,100	+15,000		$2.14^*	15,000	01 Dec 2022	Direct	F1
transaction	AVTE	Common Stock	Sale	$270,000	-15,000	-100%	$18.00	0	01 Dec 2022	Direct	F1

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	-15,000	-3%	$0.000000	478,381	01 Dec 2022	Common Stock	15,000	$2.14	Direct	F1, F2

* 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 May 18, 2022.
F2	A total of 493,381 shares subject to an employee stock option were granted on April 2, 2021, with 25% vested on June 4, 2022, with the remainder vesting in 36 substantially equal monthly installments thereafter.