David S. Grayzel - Jun 21, 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: Jun 21, 2022
Transactions value $: $0
Form type: 4
Date filed: 6/22/2022, 05:00 PM
Previous filing: Jun 10, 2022
Next filing: Jan 5, 2023

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	$0	+12.5K		$0.00	12.5K	Jun 21, 2022	Common Stock	12.5K	$12.26	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares subject to this option will vest and become exercisable in full on the earlier of (i) June 21, 2023 or (ii) the next annual meeting of the Issuer's stockholders, subject to the Reporting Person's continued service through the applicable vesting date.
F2	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.

Content

The shares subject to this option will vest and become exercisable in full on the earlier of (i) June 21, 2023 or (ii) the next annual meeting of the Issuer's stockholders, subject to the Reporting Person's continued service through the applicable vesting date.

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.