Marinus Verwijs - Mar 19, 2024 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
CHIEF TECHNICAL OFFICER
Signature
/s/ George A Eldridge, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Mar 19, 2024
Transactions value $
-$60,916
Form type
4
Date filed
3/20/2024, 06:00 PM
Previous filing
Jan 24, 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 $77.3K +5.3K $14.59 5.3K Mar 19, 2024 Direct F1
transaction AVTE Common Stock Sale -$65.1K -2.54K -47.85% $25.68 2.76K Mar 19, 2024 Direct F1, F2
transaction AVTE Common Stock Sale -$73.1K -2.76K -100% $26.46 0 Mar 19, 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 -5.3K -5.89% $0.00 84.7K Mar 19, 2024 Common Stock 5.3K $14.59 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 November 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 $25.255 to $26.125, 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 $26.30 to $26.71, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F4 25% of this option vested and became exercisable on March 21, 2023, with the remainder vesting in 36 substantially equal monthly installments thereafter.