Jade Biosciences, Inc. — Director's Dealing 2021

Jul 6, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Aerovate Therapeutics, Inc. (AVTE)
CIK: 0001798749
Period of Report: 2021-07-02

Reporting Person: Atlas Venture Fund XII, L.P. (10% Owner)
Reporting Person: Atlas Venture Associates XII, L.P. (10% Owner)
Reporting Person: Atlas Venture Associates XII, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-07-02	Common Stock	C	2568165	—	Acquired	2568165	Direct
2021-07-02	Common Stock	P	535714	$14	Acquired	3103879	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-07-02	Series A Preferred Stock	$	C	7976754	Disposed		Common Stock (2568165)	Direct

Footnotes

F1: Each share of Series A Preferred Stock was convertible at any time at the holder's election and automatically upon the closing of the Issuer's initial public offering. The Preferred Stock converted into Common Stock on a one-for-3.1060103 basis upon the closing of the Issuer's initial public offering without payment or additional consideration. The Preferred Stock had no expiration date.

F2: The shares are held directly by Atlas Venture Fund XII, L.P. ("Atlas Fund XII"). The general partner of Atlas Fund XII is Atlas Venture Associates XII, L.P. ("AVA XII LP"). Atlas Venture Associates XII, LLC ("AVA XII LLC") is the general partner of AVA XII LP. Each of AVA XII LP and AVA XII LLC disclaim Section 16 beneficial ownership of the securities owned by Atlas Fund XII, except to the extent of its pecuniary interest therein, if any.