Hunter Gillies - 23 Feb 2024 Form 4 Insider Report for Aerovate Therapeutics, Inc. (JBIO)

Signature
/s/ George A. Eldridge, Attorney-in-Fact
Issuer symbol
JBIO
Transactions as of
23 Feb 2024
Net transactions value
-$9,075
Form type
4
Filing time
27 Feb 2024, 18:00:07 UTC
Previous filing
22 Feb 2024
Next filing
11 Mar 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $889 +511 +16% $1.74* 3,762 23 Feb 2024 Direct F1
transaction AVTE Common Stock Sale $9,964 -511 -14% $19.50 3,251 23 Feb 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 -511 -14% $0.000000 3,014 23 Feb 2024 Common Stock 511 $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.