Chen Schor - 04 Aug 2022 Form 4 Insider Report for Adicet Bio, Inc. (ACET)

Role
President & CEO, Director
Signature
/s/ Nick Harvey, Attorney-in-Fact
Issuer symbol
ACET
Transactions as of
04 Aug 2022
Net transactions value
-$388,506
Form type
4
Filing time
08 Aug 2022, 20:32:56 UTC
Previous filing
20 May 2022
Next filing
13 Sep 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACET Common Stock Gift $0 -53,424 -36% $0.000000 96,000 06 Jul 2022 Direct F1
transaction ACET Common Stock Gift $0 +53,424 +59% $0.000000 143,260 06 Jul 2022 See Footnote F1, F2
transaction ACET Common Stock Award $0 +48,000 +50% $0.000000 144,000 04 Aug 2022 Direct F3
transaction ACET Common Stock Tax liability $388,506 -21,288 -15% $18.25 122,712 04 Aug 2022 Direct
holding ACET Common Stock 74,841 04 Aug 2022 See Footnote F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the transfer of shares held by the Reporting Person to The C. Schor IRRV Trust for no consideration.
F2 Represents shares held directly by The C. Schor IRRV Trust, an irrevocable family trust having an independent trustee.
F3 The Reporting Person was issued 240,000 Restricted Stock Units ("RSUs") on October 1, 2021, as previously reported on a Form 4 filed by the Reporting Person on October 5, 2021. Each RSU represents a contingent right to receive one share of common stock. A total of 96,000 of the RSUs shall vest in two (2) annual installments of 20% of the shares vesting, with the first tranche vesting on October 1, 2022 and the second tranche vesting on October 1, 2023. A total of 144,000 of the RSUs shall vest upon achievements of specific milestones outlined in the Reporting Person's Restricted Stock Unit Agreement. On August 4, 2022, upon the occurrence of the third performance milestone, 48,000 of the RSUs vested. The RSUs may be settled only by delivering shares of common stock, and thus, the grant is being reported in Table I as allowed per SEC guidance.
F4 Represents shares held directly by The I. Schor IRRV Trust, an irrevocable family trust having an independent trustee.

Remarks:

The Reporting Person's Form 4s filed on October 5, 2021, January 11, 2022, February 1, 2022 and February 16, 2022 inadvertently omitted the Reporting Person's indirect holdings of common stock held by The C. Schor IRRV Trust and The I. Schor IRRV Trust (the "Trusts"), both of which are irrevocable family trusts having independent trustees. There have been no changes to the holdings of the Trusts since the Form 4 filed by the Reporting Person on June 21, 2021, other than as reported on this Form 4.