Hunter Gillies - 13 Dec 2023 Form 4 Insider Report for Aerovate Therapeutics, Inc. (JBIO)

Role
CHIEF MEDICAL OFFICER
Signature
/s/ George A. Eldridge, Attorney-in-Fact
Issuer symbol
JBIO
Transactions as of
13 Dec 2023
Net transactions value
-$213,120
Form type
4
Filing time
15 Dec 2023, 18:00:07 UTC
Previous filing
23 May 2023
Next filing
22 Dec 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 $3,659 +2,103 +65% $1.74 5,354 13 Dec 2023 Direct F1
transaction AVTE Common Stock Sale $41,008 -2,103 -39% $19.50 3,251 13 Dec 2023 Direct F1
transaction AVTE Common Stock Options Exercise $17,221 +9,897 +304% $1.74 13,148 14 Dec 2023 Direct F1
transaction AVTE Common Stock Sale $192,992 -9,897 -75% $19.50 3,251 14 Dec 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 -653 -4.1% $0.000000 15,444 13 Dec 2023 Common Stock 653 $1.74 Direct F1, F2
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -1,450 -7.7% $0.000000 17,503 13 Dec 2023 Common Stock 1,450 $1.74 Direct F1, F3
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -2,700 -17% $0.000000 12,744 14 Dec 2023 Common Stock 2,700 $1.74 Direct F1, F2
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -7,197 -41% $0.000000 10,306 14 Dec 2023 Common Stock 7,197 $1.74 Direct F1, F3
* 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 January 19, 2023.
F2 A total of 16,097 shares subject to an employee stock option were granted on September 4, 2020, with 10% of this option vested on May 1, 2020, 22.5% vested on May 1 2021, and the remainder vesting in 36 substantially equal monthly installments thereafter.
F3 A total of 24,108 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.