Katie Peng - 14 Aug 2023 Form 4 Insider Report for Adicet Bio, Inc. (ACET)

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	ACET	Stock Option (Right to Buy)	Disposed to Issuer	$0	-70,200	-100%	$0^*	0	14 Aug 2023	Common Stock	70,200	$3.38	Direct	F1, F2
transaction	ACET	Stock Option (Right to Buy)	Award	$0	+70,200		$0	70,200	14 Aug 2023	Common Stock	70,200	$2.14	Direct	F1, F2, F3

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

Id	Content
F1	On August 8, 2023, the Issuer's Board of Directors approved an option repricing (the "Repricing"), effective as of August 14, 2023 (the "Effective Date"). All of the other terms of the options remain unchanged. Such transactions were exempt pursuant to Rule 16b-6(d) and Rule 16b-3 of the Exchange Act, as applicable.
F2	The shares subject to this option shall vest in thirty-six (36) equal monthly installments commencing on July 10, 2023, subject to the Reporting Person's continued service on the Issuer's Board of Directors as of the applicable vesting date.
F3	The exercise price of the option is $2.14 per share, representing the fair market value per share of the Issuer's Common Stock on the Effective Date; provided that the repriced option will revert to its original exercise price if, prior to the first anniversary of the Effective Date, (a) the Reporting Person's service on the Issuer's Board of Directors is terminated by the Issuer with cause or by the Reporting Person or (b) the option is exercised.