Benjamin T. Dake - Aug 16, 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 16, 2022
Transactions value $
-$446,392
Form type
4
Date filed
8/18/2022, 05:00 PM
Previous filing
Aug 12, 2022
Next filing
Sep 8, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $36.5K +21K $1.74* 21K Aug 16, 2022 Direct F1
transaction AVTE Common Stock Sale -$235K -10.5K -49.88% $22.44 10.5K Aug 16, 2022 Direct F1, F2
transaction AVTE Common Stock Sale -$165K -7.07K -67.21% $23.29 3.45K Aug 16, 2022 Direct F1, F3
transaction AVTE Common Stock Sale -$83.2K -3.45K -100% $24.10 0 Aug 16, 2022 Direct F1, F4

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 -3.19K -17.16% $0.00 15.4K Aug 16, 2022 Common Stock 3.19K $1.74 Direct F1, F5
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -17.8K -24.63% $0.00 54.5K Aug 16, 2022 Common Stock 17.8K $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 $21.92 to $22.915, 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 $22.94 to $23.94, 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 $23.95 to $24.57, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F5 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.
F6 A total of 72,325 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.

Remarks:

Officer Title: President, Chief Operating Officer and Secretary