David S. Grayzel - Apr 9, 2024 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
Director
Signature
/s/ Ommer Chohan, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Apr 9, 2024
Transactions value $
-$334,478
Form type
4
Date filed
4/11/2024, 06:00 PM
Previous filing
Aug 14, 2024
Next filing
Jun 7, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Sale -$334K -11.9K -45.03% $28.15 14.5K Apr 9, 2024 By Atlas Venture Associates XII, L.P. F1, F2, F3
holding AVTE Common Stock 1.78M Apr 9, 2024 By Atlas Venture Fund XII, L.P. F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.00 to $28.34 inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F2 The shares reported herein give effect to the pro rata distributions of shares by Atlas Venture Fund XII, L.P. ("Atlas Fund XII") for no additional consideration to its limited partners and its general partner, Atlas Venture Associates XII, L.P. ("AVA XII LP"), subsequent to the Reporting Person's last Section 16 filing reporting ownership of the Issuer's Common Stock. As the distributions of such shares constituted only a change in the form of the Reporting Person's indirect ownership in such shares, the Reporting Person was not required to report the distributions pursuant to Section 16.
F3 The shares are held directly by AVA XII LP. Atlas Venture Associates XII, LLC ("AVA XII LLC") is the general partner of AVA XII LP. The Reporting Person is a member of AVA XII LLC and disclaims beneficial ownership of the securities held by AVA XII LP, except to the extent of his pecuniary interest therein, if any.
F4 The shares are held directly by Atlas Fund XII. The general partner of Atlas Fund XII is AVA XII LP. AVA XII LLC is the general partner of AVA XII LP. The Reporting Person is a member of AVA XII LLC and disclaims beneficial ownership of the securities held by Atlas Fund XII, except to the extent of his pecuniary interest therein, if any.