Marinus Verwijs - Jun 14, 2024 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Signature
/s/ George A Eldridge, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Jun 14, 2024
Transactions value $
-$110,346
Form type
4
Date filed
6/14/2024, 06:00 PM
Previous filing
May 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $155K +10.6K $14.59 10.6K Jun 14, 2024 Direct F1
transaction AVTE Common Stock Sale -$265K -10.6K -100% $25.00 0 Jun 14, 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 -10.6K -13.35% $0.00 68.8K Jun 14, 2024 Common Stock 10.6K $14.59 Direct F1, F2
* 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 25% of this option vested and became exercisable on March 21, 2023, with the remainder vesting in 36 substantially equal monthly installments thereafter.