Timothy P. Noyes - Apr 1, 2024 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
CHIEF EXECUTIVE OFFICER, Director
Signature
/s/ George A. Eldridge, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Apr 1, 2024
Transactions value $
-$278,633
Form type
4
Date filed
4/3/2024, 06:00 PM
Previous filing
Jan 31, 2024
Next filing
Apr 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $21.4K +10K $2.14 10K Apr 1, 2024 Direct F1
transaction AVTE Common Stock Sale -$130K -4.5K -45.02% $28.96 5.5K Apr 1, 2024 Direct F1, F2
transaction AVTE Common Stock Sale -$49.2K -1.65K -29.96% $29.90 3.85K Apr 1, 2024 Direct F1, F3
transaction AVTE Common Stock Sale -$88.4K -2.85K -74.03% $31.02 1K Apr 1, 2024 Direct F1, F4
transaction AVTE Common Stock Sale -$32K -1K -100% $31.95 0 Apr 1, 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 -10K -2.61% $0.00 373K Apr 1, 2024 Common Stock 10K $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.