George A. Eldridge - Mar 7, 2024 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Signature
/s/ George A. Eldridge
Stock symbol
AVTE
Transactions as of
Mar 7, 2024
Transactions value $
-$593,709
Form type
4
Date filed
3/11/2024, 06:00 PM
Previous filing
Jan 24, 2024
Next filing
Mar 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $47.9K +22.4K +1142.14% $2.14 24.3K Mar 7, 2024 Direct F1
transaction AVTE Common Stock Sale -$560K -22.4K -91.95% $25.00 1.96K Mar 7, 2024 Direct F1, F2
transaction AVTE Common Stock Options Exercise $244 +114 +5.82% $2.14 2.07K Mar 8, 2024 Direct F1
transaction AVTE Common Stock Sale -$2.85K -114 -5.5% $25.00 1.96K Mar 8, 2024 Direct F1
transaction AVTE Common Stock Options Exercise $7.35K +3.43K +175.15% $2.14 5.39K Mar 11, 2024 Direct F1
transaction AVTE Common Stock Sale -$86.4K -3.42K -63.47% $25.24 1.97K Mar 11, 2024 Direct F1, F3
transaction AVTE Common Stock Sale -$263 -10 -0.51% $26.31 1.96K Mar 11, 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 -1.4K -4.72% $0.00 28.3K Mar 7, 2024 Common Stock 1.4K $2.14 Direct F1, F4
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -21K -26.28% $0.00 58.9K Mar 7, 2024 Common Stock 21K $2.14 Direct F1, F5
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -114 -0.19% $0.00 58.8K Mar 8, 2024 Common Stock 114 $2.14 Direct F1, F5
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -3.43K -5.84% $0.00 55.3K Mar 11, 2024 Common Stock 3.43K $2.14 Direct F1, F5
* 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 March 17, 2023.
F2 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $25.00 to $25.289, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F3 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $25.00 to $25.88, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F4 A total of 50,850 shares subject to an employee stock option were granted on April 2, 2021, with 25% of this option vested on March 22, 2022, and the remainder vesting in 36 substantially equal monthly installments thereafter.
F5 A total of 98,676 shares subject to an employee stock option were granted on April 2, 2021, with 25% of this option vested on June 4, 2022, and the remainder vesting in 36 substantially equal monthly installments thereafter.

Remarks:

Officer Title: Chief Financial Officer and Treasurer