Hunter Gillies - Apr 17, 2024 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
CHIEF MEDICAL OFFICER
Signature
/s/ George A. Eldridge, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Apr 17, 2024
Transactions value $
-$82,562
Form type
4
Date filed
4/19/2024, 06:00 PM
Previous filing
Apr 1, 2024
Next filing
May 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $6.96K +4K +123.04% $1.74* 7.25K Apr 17, 2024 Direct F1
transaction AVTE Common Stock Sale -$82.3K -3.69K -50.88% $22.30 3.56K Apr 17, 2024 Direct F1, F2
transaction AVTE Common Stock Sale -$7.25K -311 -8.73% $23.33 3.25K Apr 17, 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 -503 -16.69% $0.00 2.51K Apr 17, 2024 Common Stock 503 $1.74 Direct F1, F4
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -3.5K -86.65% $0.00 539 Apr 17, 2024 Common Stock 3.5K $1.74 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 January 19, 2023.
F2 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $22.08 to $22.80, 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 $23.12 to $23.97, 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 24,108 shares subject to an employee stock option were granted on September 4, 2020, with 25% of the shares vested on August 1, 2021, and the remainder vesting in 36 substantially equal monthly installments thereafter.
F5 A total of 16,097 shares subject to an employee stock option were granted on September 4, 2020, with 10% of this option vested on May 1, 2020, 22.5% vested on May 1 2021, and the remainder vesting in 36 substantially equal monthly installments thereafter.