Benjamin T. Dake - Feb 6, 2023 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
Feb 6, 2023
Transactions value $
-$231,838
Form type
4
Date filed
2/8/2023, 05:00 PM
Previous filing
Jan 9, 2023
Next filing
Mar 8, 2023

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 Feb 6, 2023 Direct F1
transaction AVTE Common Stock Options Exercise $16.8K +7.87K +326.37% $2.14* 10.3K Feb 6, 2023 Direct F1
transaction AVTE Common Stock Sale -$217K -8.86K -86.13% $24.52 1.43K Feb 6, 2023 Direct F1, F2
transaction AVTE Common Stock Sale -$35.7K -1.43K -100% $25.02 0 Feb 6, 2023 Direct F1, F3

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 -8.33% $0.00 9.96K Feb 6, 2023 Common Stock 905 $1.74 Direct F1, F4
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -1.51K -5.26% $0.00 27.1K Feb 6, 2023 Common Stock 1.51K $1.74 Direct F1, F5
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -1.02K -3.71% $0.00 26.5K Feb 6, 2023 Common Stock 1.02K $2.14 Direct F1, F6
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -6.85K -3.45% $0.00 192K Feb 6, 2023 Common Stock 6.85K $2.14 Direct F1, F7
transaction AVTE Stock Options (Right to Buy) Award $0 +62K $0.00 62K Feb 7, 2023 Common Stock 62K $25.57 Direct F8
* 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 $23.95 to $24.92, 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 $24.96 to $25.155, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F4 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.
F5 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.
F6 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.
F7 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.
F8 This option shall vest and become exercisable in 48 substantially equal monthly installments, with the first installment vesting on March 7, 2023.

Remarks:

Officer Title: President, Chief Operating Officer and Secretary