Hunter Gillies - Jan 17, 2024 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Signature
/s/ George A. Eldridge, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Jan 17, 2024
Transactions value $
-$71,040
Form type
4
Date filed
1/19/2024, 06:00 PM
Previous filing
Dec 29, 2023
Next filing
Jan 24, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $6.96K +4K +123.04% $1.74* 7.25K Jan 17, 2024 Direct F1
transaction AVTE Common Stock Sale -$78K -4K -55.16% $19.50 3.25K Jan 17, 2024 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 -4K -39.89% $0.00 6.03K Jan 17, 2024 Common Stock 4K $1.74 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 January 19, 2023.
F2 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.