George A. Eldridge - Mar 12, 2024 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Signature
/s/ George A. Eldridge
Stock symbol
AVTE
Transactions as of
Mar 12, 2024
Transactions value $
-$93,111
Form type
4
Date filed
3/14/2024, 06:00 PM
Previous filing
Mar 11, 2024
Next filing
Apr 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $4.39K +2.05K +104.64% $2.14* 4.01K Mar 12, 2024 Direct F1
transaction AVTE Common Stock Sale -$51.4K -2.05K -51.13% $25.05 1.96K Mar 12, 2024 Direct F1, F2
transaction AVTE Common Stock Options Exercise $4.31K +2.02K +102.86% $2.14* 3.98K Mar 13, 2024 Direct F1
transaction AVTE Common Stock Sale -$50.4K -2.02K -50.7% $25.02 1.96K Mar 13, 2024 Direct F1, F3

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 -2.05K -3.71% $0.00 53.3K Mar 12, 2024 Common Stock 2.05K $2.14 Direct F1, F4
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -2.02K -3.78% $0.00 51.3K Mar 13, 2024 Common Stock 2.02K $2.14 Direct F1, F4
* 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 $25.19, 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 $25.08, 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 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