Blake Aftab - Aug 14, 2023 Form 4 Insider Report for Adicet Bio, Inc. (ACET)

Role: Chief Scientific Officer
Signature: /s/ Nick Harvey, Attorney-in-Fact
Stock symbol: ACET
Transactions as of: Aug 14, 2023
Transactions value $: $0
Form type: 4
Date filed: 8/16/2023, 07:10 PM
Previous filing: Jan 26, 2023
Next filing: Oct 16, 2023

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	ACET	Stock Option (Right to Buy)	Disposed to Issuer	$0	-50K	-100%	$0.00^*	0	Aug 14, 2023	Common Stock	50K	$15.93	Direct	F1, F2
transaction	ACET	Stock Option (Right to Buy)	Award	$0	+50K		$0.00	50K	Aug 14, 2023	Common Stock	50K	$2.14	Direct	F1, F2, F3
transaction	ACET	Stock Option (Right to Buy)	Disposed to Issuer	$0	-56.6K	-100%	$0.00^*	0	Aug 14, 2023	Common Stock	56.6K	$7.38	Direct	F1, F4
transaction	ACET	Stock Option (Right to Buy)	Award	$0	+56.6K		$0.00	56.6K	Aug 14, 2023	Common Stock	56.6K	$2.14	Direct	F1, F3, F4
transaction	ACET	Stock Option (Right to Buy)	Disposed to Issuer	$0	-125K	-100%	$0.00^*	0	Aug 14, 2023	Common Stock	125K	$15.52	Direct	F1, F5
transaction	ACET	Stock Option (Right to Buy)	Award	$0	+125K		$0.00	125K	Aug 14, 2023	Common Stock	125K	$2.14	Direct	F1, F3, F5
transaction	ACET	Stock Option (Right to Buy)	Disposed to Issuer	$0	-60K	-100%	$0.00^*	0	Aug 14, 2023	Common Stock	60K	$12.18	Direct	F1, F6
transaction	ACET	Stock Option (Right to Buy)	Award	$0	+60K		$0.00	60K	Aug 14, 2023	Common Stock	60K	$2.14	Direct	F1, F3, F6
transaction	ACET	Stock Option (Right to Buy)	Disposed to Issuer	$0	-117K	-100%	$0.00^*	0	Aug 14, 2023	Common Stock	117K	$9.05	Direct	F1, F7
transaction	ACET	Stock Option (Right to Buy)	Award	$0	+117K		$0.00	117K	Aug 14, 2023	Common Stock	117K	$2.14	Direct	F1, F3, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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	A total of 60,000 shares subject to an employee stock option were granted to the Reporting Person on October 12, 2021, with 25% of the shares subject to this option vested and exercisable on April 5, 2022, and the remaining 75% vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date. The Reporting Person previously exercised 3,388 shares subject to this option.
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 employment is terminated by the Issuer with cause or by the Reporting Person or (b) the option is exercised.
F4	25% of the shares subject to this option vested and became exercisable on October 12, 2022, with the remaining 75% vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.
F5	25% of the shares subject to this option vested and became exercisable on January 7, 2023, with the remaining 75% vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.
F6	25% of the shares subject to this option vested and became exercisable on April 29, 2023, with the remaining 75% vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.
F7	The shares subject to this option shall vest in forty-eight (48) equal installments on each monthly anniversary following January 24, 2023, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.