Donald J. Santel - Jan 19, 2023 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
Director
Signature
/s/ George A. Eldridge, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Jan 19, 2023
Transactions value $
$38,994
Form type
4
Date filed
1/23/2023, 05:02 PM
Previous filing
Jan 4, 2023
Next filing
Jun 8, 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 AVTE Stock Option (Right to Buy) Award $0 +25K $0.00 25K Jan 19, 2023 Common Stock 25K $23.44 Direct F1
transaction AVTE Stock Option (Right to Buy) Award $39K +2.52K $15.48 2.52K Jan 19, 2023 Common Stock 2.52K $23.44 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This option shall vest in 36 substantially equal monthly installments, with the first installment vesting on February 19, 2023.
F2 This option was awarded in lieu of cash compensation pursuant to the Issuer's Non-Employee Director Compensation Policy. The shares underlying such option shall vest and become exercisable in four equal installments, with the first installment vesting on March 31, 2023, the second installment vesting on June 30, 2023, the third installment vesting on September 30, 2023, and the fourth installment vesting on December 31, 2023.