Timothy P. Noyes - 03 Jul 2023 Form 4 Insider Report for Aerovate Therapeutics, Inc. (JBIO)

Signature
/s/ George A. Eldridge, Attorney-in-Fact
Issuer symbol
JBIO
Transactions as of
03 Jul 2023
Net transactions value
-$158,600
Form type
4
Filing time
05 Jul 2023, 18:00:05 UTC
Previous filing
03 May 2023
Next filing
19 Jul 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $21,400 +10,000 $2.14* 10,000 03 Jul 2023 Direct F1
transaction AVTE Common Stock Sale $180,000 -10,000 -100% $18.00 0 03 Jul 2023 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 -10,000 -2.5% $0.000000 393,381 03 Jul 2023 Common Stock 10,000 $2.14 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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.