Ralph Niven - Nov 22, 2023 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
CHIEF SCIENTIFIC OFFICER
Signature
/s/ George A. Eldridge, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Nov 22, 2023
Transactions value $
-$179,148
Form type
4
Date filed
11/27/2023, 06:00 PM
Previous filing
Jul 7, 2023
Next filing
Dec 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $7.31K +4.2K +261.03% $1.74* 5.81K Nov 22, 2023 Direct F1
transaction AVTE Common Stock Options Exercise $20.5K +9.6K +165.26% $2.14* 15.4K Nov 22, 2023 Direct F1
transaction AVTE Common Stock Sale -$207K -13.8K -89.56% $15.00 1.61K Nov 22, 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 -2.7K -14.43% $0.00 16K Nov 22, 2023 Common Stock 2.7K $1.74 Direct F1, F2
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -1.5K -12.41% $0.00 10.6K Nov 22, 2023 Common Stock 1.5K $1.74 Direct F1, F3
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -1.5K -10.8% $0.00 12.4K Nov 22, 2023 Common Stock 1.5K $2.14 Direct F1, F4
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -3.6K -8.55% $0.00 38.5K Nov 22, 2023 Common Stock 3.6K $2.14 Direct F1, F5
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -4.5K -8.87% $0.00 46.2K Nov 22, 2023 Common Stock 4.5K $2.14 Direct F1, F6
* 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 25, 2023.
F2 A total of 24,108 shares subject to an employee stock option were granted on September 4, 2020, with 25% of this option vested on August 1, 2021, and the remainder vesting in 36 substantially equal monthly installments thereafter.
F3 A total of 14,488 shares subject to an employee stock option were granted on September 4, 2020, with 25% of this option vested on June 1, 2021, and the remainder vesting in 36 substantially equal monthly installments thereafter.
F4 A total of 16,294 shares subject to an employee stock option were granted on April 2, 2021, with options vesting in 48 equal monthly installments, with the first installment vested on May 2, 2021.
F5 A total of 49,908 shares subject to an employee stock option were granted on April 2, 2021, with options vesting in 48 equal monthly installments, with the first installment vested on July 4, 2021.
F6 A total of 59,732 shares subject to an employee stock option were granted on April 2, 2021, with options vesting in 48 equal monthly installments, with the first installment vested on July 4, 2021.