George A. Eldridge - 12 Mar 2024 Form 4 Insider Report for Aerovate Therapeutics, Inc. (JBIO)

Signature
/s/ George A. Eldridge
Issuer symbol
JBIO
Transactions as of
12 Mar 2024
Net transactions value
-$93,111
Form type
4
Filing time
14 Mar 2024, 18:00:17 UTC
Previous filing
11 Mar 2024
Next filing
03 Apr 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AVTE Common Stock Options Exercise $4,389 +2,051 +105% $2.14 4,011 12 Mar 2024 Direct F1
transaction AVTE Common Stock Sale $51,370 -2,051 -51% $25.05 1,960 12 Mar 2024 Direct F1, F2
transaction AVTE Common Stock Options Exercise $4,314 +2,016 +103% $2.14 3,976 13 Mar 2024 Direct F1
transaction AVTE Common Stock Sale $50,445 -2,016 -51% $25.02 1,960 13 Mar 2024 Direct F1, F3

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 -2,051 -3.7% $0.000000 53,279 12 Mar 2024 Common Stock 2,051 $2.14 Direct F1, F4
transaction AVTE Stock Option (Right to Buy) Options Exercise $0 -2,016 -3.8% $0.000000 51,263 13 Mar 2024 Common Stock 2,016 $2.14 Direct F1, F4
* 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 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 17, 2023.
F2 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 $25.19, 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 $25.00 to $25.08, inclusive. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.
F4 A total of 98,676 shares subject to an employee stock option were granted on April 2, 2021, with 25% of this option vested on June 4, 2022, and the remainder vesting in 36 substantially equal monthly installments thereafter.

Remarks:

Officer Title: Chief Financial Officer and Treasurer