Benjamin T. Dake - Dec 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: Dec 8, 2022
Transactions value $: -$214,066
Form type: 4
Date filed: 12/12/2022, 05:00 PM
Previous filing: Dec 8, 2022
Next filing: Dec 14, 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	$21.4K	+10K		$2.14^*	10K	Dec 8, 2022	Direct	F1
transaction	AVTE	Common Stock	Sale	-$19.4K	-928	-9.28%	$20.94	9.07K	Dec 8, 2022	Direct	F1, F2
transaction	AVTE	Common Stock	Sale	-$58.3K	-2.7K	-29.71%	$21.63	6.38K	Dec 8, 2022	Direct	F1, F3
transaction	AVTE	Common Stock	Sale	-$72.2K	-3.2K	-50.16%	$22.56	3.18K	Dec 8, 2022	Direct	F1, F4
transaction	AVTE	Common Stock	Sale	-$76.5K	-3.18K	-100%	$24.08	0	Dec 8, 2022	Direct	F1, F5
transaction	AVTE	Common Stock	Options Exercise	$843	+394		$2.14^*	394	Dec 9, 2022	Direct	F1
transaction	AVTE	Common Stock	Sale	-$9.86K	-394	-100%	$25.03	0	Dec 9, 2022	Direct	F1, F6

Showing 1 to 7 of 7 entries

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	-10K	-4.59%	$0.00	208K	Dec 8, 2022	Common Stock	10K	$2.14	Direct	F1, F7
transaction	AVTE	Stock Option (Right to Buy)	Options Exercise	$0	-394	-0.19%	$0.00	208K	Dec 9, 2022	Common Stock	394	$2.14	Direct	F1, F7

* 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 $20.235 to $21.22, 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 $21.25 to $22.20, 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 $22.27 to $22.845, 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 $23.43 to $24.32, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F6	The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $25.00 to $25.41, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F7	A total of 328,921 shares subject to an employee stock option were granted on April 2, 2021, with the first installment vested on July 4, 2021, and with shares vesting in 48 substantially equal monthly installments.

Remarks:

Officer Title: President, Chief Operating Officer and Secretary