Benjamin T. Dake - Sep 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
Sep 8, 2022
Transactions value $
-$124,158
Form type
4
Date filed
9/12/2022, 05:30 PM
Previous filing
Sep 8, 2022
Next filing
Sep 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $5.43K +3.12K $1.74* 3.12K Sep 8, 2022 Direct F1
transaction AVTE Common Stock Sale -$45.2K -2.49K -79.84% $18.14 629 Sep 8, 2022 Direct F1, F2
transaction AVTE Common Stock Sale -$11.6K -629 -100% $18.42 0 Sep 8, 2022 Direct F1, F3
transaction AVTE Common Stock Options Exercise $449 +258 $1.74* 258 Sep 9, 2022 Direct F1
transaction AVTE Common Stock Options Exercise $9.55K +4.46K +1729.46% $2.14* 4.72K Sep 9, 2022 Direct F1
transaction AVTE Common Stock Sale -$79.5K -4.54K -96.27% $17.50 176 Sep 9, 2022 Direct F1, F4
transaction AVTE Common Stock Sale -$3.26K -176 -100% $18.54 0 Sep 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 -648 -4.21% $0.00 14.7K Sep 8, 2022 Common Stock 648 $1.74 Direct F1, F6
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -2.47K -6.66% $0.00 34.7K Sep 8, 2022 Common Stock 2.47K $1.74 Direct F1, F7
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -258 -1.75% $0.00 14.5K Sep 9, 2022 Common Stock 258 $1.74 Direct F1, F6
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -4.46K -9.13% $0.00 44.4K Sep 9, 2022 Common Stock 4.46K $2.14 Direct F1, F8
* 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 $17.39 to $18.385, 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 $18.40 to $18.505, 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 $17.06 to $18.06, 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 $18.07 to $18.75, 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.
F7 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.
F8 A total of 48,882 shares subject to an employee stock option were granted on April 2, 2021, with shares vesting in 48 substantially equal monthly installments.

Remarks:

Officer Title: President, Chief Operating Officer and Secretary