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Adicet Bio, Inc. — Director's Dealing 2023
Aug 17, 2023
34412_dirs_2023-08-16_a02c774b-a698-4475-88d4-cda965790236.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Adicet Bio, Inc. (ACET)
CIK: 0001720580
Period of Report: 2023-08-14
Reporting Person: Kauffman Michael (Director)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2023-08-14 | Stock Option (Right to Buy) | $9.39 | D | 37000 | Disposed | 2031-11-16 | Common Stock (37000) | Direct |
| 2023-08-14 | Stock Option (Right to Buy) | $2.14 | A | 37000 | Acquired | 2031-11-16 | Common Stock (37000) | Direct |
| 2023-08-14 | Stock Option (Right to Buy) | $11.49 | D | 18500 | Disposed | 2032-06-01 | Common Stock (18500) | Direct |
| 2023-08-14 | Stock Option (Right to Buy) | $2.14 | A | 18500 | Acquired | 2032-06-01 | Common Stock (18500) | Direct |
| 2023-08-14 | Stock Option (Right to Buy) | $5.195 | D | 26400 | Disposed | 2033-05-31 | Common Stock (26400) | Direct |
| 2023-08-14 | Stock Option (Right to Buy) | $2.14 | A | 26400 | Acquired | 2033-05-31 | Common Stock (26400) | Direct |
Footnotes
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 November 17, 2021, 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.
F4: The shares subject to this option are fully vested and exercisable as of the date hereof.
F5: The shares subject to this option shall vest in full on the earlier to occur of (a) June 1, 2024 or (b) the date of the Issuer's 2024 annual meeting of stockholders, subject to the Reporting Person's continued service on the Issuer's Board of Directors as of the applicable vesting date.