Benjamin T. Dake - Aug 8, 2022 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
Officer Title: President, Chief Operating Officer and Secretary
Signature
/s/ George A. Eldridge, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Aug 8, 2022
Transactions value $
-$353,068
Form type
4
Date filed
8/10/2022, 05:15 PM
Previous filing
Dec 16, 2021
Next filing
Aug 12, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $12.1K +6.94K $1.74* 6.94K Aug 8, 2022 Direct F1
transaction AVTE Common Stock Sale -$97.3K -3.99K -57.45% $24.39 2.95K Aug 8, 2022 Direct F1, F2
transaction AVTE Common Stock Sale -$73.7K -2.95K -100% $24.94 0 Aug 8, 2022 Direct F1, F3
transaction AVTE Common Stock Options Exercise $15.1K +8.7K $1.74* 8.7K Aug 9, 2022 Direct F1
transaction AVTE Common Stock Sale -$141K -5.91K -67.92% $23.84 2.79K Aug 9, 2022 Direct F1, F4
transaction AVTE Common Stock Sale -$68.4K -2.79K -100% $24.52 0 Aug 9, 2022 Direct F1, F5

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 -6.94K -14.38% $0.00 41.4K Aug 8, 2022 Common Stock 6.94K $1.74 Direct F1, F6
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -8.7K -21.04% $0.00 32.7K Aug 9, 2022 Common Stock 8.7K $1.74 Direct F1, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on April 14, 2022.
F2 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $23.80 to $24.75, 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 $24.81 to $25.43, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F4 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $23.34 to $24.34, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F5 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $24.345 to $24.70, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F6 A total of 48,293 shares subject to an employee stock option were granted on September 4, 2020, with 10% of the shares vested on January 1, 2020, an additional 22.5% of the shares vested on January 1, 2021, and the remainder vesting in 36 substantially equal monthly installments thereafter.

Remarks:

Officer Title: President, Chief Operating Officer and Secretary