David S. Grayzel - Jan 3, 2022 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
Director
Signature
/s/ Ommer Chohan, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Jan 3, 2022
Transactions value $
$48,000
Form type
4
Date filed
1/5/2022, 04:15 PM
Previous filing
Jul 6, 2021
Next filing
Jun 10, 2022

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) Award $48K +7.32K $6.56 7.32K Jan 3, 2022 Common Stock 7.32K $10.93 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This option was awarded in lieu of cash compensation pursuant to the Issuer's Non-Employee Director Compensation Policy. The shares underlying such option shall vest and become exercisable in four substantially equal installments, with the first installment vesting on March 31, 2022, the second installment vesting on June 30, 2022, the third installment vesting on September 30, 2022, and the fourth installment vesting on December 31, 2022.
F2 This option was granted to the Reporting Person, a director of the Issuer. The proceeds of any sale of shares of common stock issued to the Reporting Person upon exercise of this option will be transferred to Atlas Venture Life Science Advisors, LLC and as such, the Reporting Person disclaims ownership of such securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, except to the extent of his pecuniary interest therein, if any.