TIMOTHY P. NOYES - 01 Apr 2024 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
CHIEF EXECUTIVE OFFICER, Director
Signature
/s/ George A. Eldridge, Attorney-in-Fact
Issuer symbol
AVTE
Transactions as of
01 Apr 2024
Net transactions value
-$278,633
Form type
4
Filing time
03 Apr 2024, 18:00:20 UTC
Previous filing
31 Jan 2024
Next filing
18 Apr 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $21,400 +10,000 $2.14 10,000 01 Apr 2024 Direct F1
transaction AVTE Common Stock Sale $130,399 -4,502 -45% $28.96 5,498 01 Apr 2024 Direct F1, F2
transaction AVTE Common Stock Sale $49,238 -1,647 -30% $29.90 3,851 01 Apr 2024 Direct F1, F3
transaction AVTE Common Stock Sale $88,446 -2,851 -74% $31.02 1,000 01 Apr 2024 Direct F1, F4
transaction AVTE Common Stock Sale $31,950 -1,000 -100% $31.95 0 01 Apr 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 -10,000 -2.6% $0.000000 373,381 01 Apr 2024 Common Stock 10,000 $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 November 27, 2023.
F2 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $28.57 to $29.48, 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 $29.705 to $30.45, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F4 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $30.73 to $31.46, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F5 A total of 493,381 shares subject to an employee stock option were granted on April 2, 2021, with 25% vested on June 4, 2022, with the remainder vesting in 36 substantially equal monthly installments thereafter.