Ralph Niven - 06 Sep 2022 Form 4 Insider Report for Aerovate Therapeutics, Inc. (JBIO)

Role: Chief Scientific Officer
Signature: /s/ George A. Eldridge, Attorney-in-Fact
Issuer symbol: JBIO
Transactions as of: 06 Sep 2022
Net transactions value: -$38,195
Form type: 4
Filing time: 07 Sep 2022, 17:30:14 UTC
Previous filing: 19 Aug 2022
Next filing: 07 Oct 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AVTE	Common Stock	Options Exercise	$1,131	+650	+40%	$1.74^*	2,259	06 Sep 2022	Direct	F1
transaction	AVTE	Common Stock	Options Exercise	$3,424	+1,600	+71%	$2.14^*	3,859	06 Sep 2022	Direct	F1
transaction	AVTE	Common Stock	Sale	$42,750	-2,250	-58%	$19.00	1,609	06 Sep 2022	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	-450	-1.9%	$0.000000	23,208	06 Sep 2022	Common Stock	450	$1.74	Direct	F1, F2
transaction	AVTE	Stock Option (Right to Buy)	Options Exercise	$0	-200	-1.4%	$0.000000	14,088	06 Sep 2022	Common Stock	200	$1.74	Direct	F1, F3
transaction	AVTE	Stock Option (Right to Buy)	Options Exercise	$0	-200	-1.2%	$0.000000	15,894	06 Sep 2022	Common Stock	200	$2.14	Direct	F1, F4
transaction	AVTE	Stock Option (Right to Buy)	Options Exercise	$0	-650	-1.3%	$0.000000	48,608	06 Sep 2022	Common Stock	650	$2.14	Direct	F1, F5
transaction	AVTE	Stock Option (Right to Buy)	Options Exercise	$0	-750	-1.3%	$0.000000	58,232	06 Sep 2022	Common Stock	750	$2.14	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 July 6, 2022.
F2	A total of 24,108 shares subject to an employee stock option were granted on September 4, 2020, with 25% of this option vested on August 1, 2021, and the remainder vesting in 36 substantially equal monthly installments thereafter.
F3	A total of 14,488 shares subject to an employee stock option were granted on September 4, 2020, with 25% of this option vested on June 1, 2021, and the remainder vesting in 36 substantially equal monthly installments thereafter.
F4	A total of 16,294 shares subject to an employee stock option were granted on April 2, 2021, with options vesting in 48 equal monthly installments, with the first installment vested on May 2, 2021.
F5	A total of 49,908 shares subject to an employee stock option were granted on April 2, 2021, with options vesting in 48 equal monthly installments, with the first installment vested on July 4, 2021.
F6	A total of 59,732 shares subject to an employee stock option were granted on April 2, 2021, with options vesting in 48 equal monthly installments, with the first installment vested on July 4, 2021.