TIMOTHY P. NOYES - 01 Nov 2023 Form 4 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Signature
/s/ George A. Eldridge, Attorney-in-Fact
Issuer symbol
AVTE
Transactions as of
01 Nov 2023
Net transactions value
-$11,379
Form type
4
Filing time
03 Nov 2023, 17:00:18 UTC
Previous filing
01 Aug 2023
Next filing
31 Jan 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Sale $11,379 -1,092 -100% $10.42 0 01 Nov 2023 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 18, 2022.
F2 Includes 1,092 shares purchased under the Issuer's 2021 Employee Stock Purchase Plan on October 31, 2023 in a transaction that is exempt under Rule 16b-3(c) and 16b-3(d).