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First Tracks Biotherapeutics, Inc.·4

Apr 22, 4:05 PM ET

FENTON DENNIS M 4

4 · First Tracks Biotherapeutics, Inc. · Filed Apr 22, 2026

Research Summary

AI-generated summary of this filing

Updated

First Tracks (TRAX) Director Dennis Fenton Receives Multiple Awards

What Happened

  • Dennis M. Fenton, a director of First Tracks Biotherapeutics, received a series of derivative awards on April 20, 2026 totaling 107,857 shares (various grants at $0.00 per share). These were recorded as awards/acquisitions (derivative securities) rather than open-market purchases or sales and have a reported cash value of $0 on the Form 4.
  • The grants arose in connection with the spin-off from AnaptysBio, and include a mix of common stock adjustments, stock options, and restricted stock units (RSUs).

Key Details

  • Transaction date and filing: transactions dated 2026-04-20; Form 4 filed 2026-04-22 (appears timely).
  • Reported amounts: total 107,857 derivative shares acquired across multiple grant lines, each at $0.00 per share.
  • Shares owned after transaction: not disclosed in the provided filing.
  • Notable footnotes: awards include (a) shares received in the AnaptysBio→First Tracks spin-off, (b) adjustments to outstanding AnaptysBio options that converted into First Tracks options, and (c) RSUs that were converted/allocated to First Tracks per the Separation Agreement.
  • Vesting specifics: some options are fully vested (per filing), some options vest monthly (1/12 per month starting Feb 6, 2026), and RSUs vest either at the 2026 or 2027 annual meeting (100% on those dates), depending on the grant.

Context

  • These were grant/award-type transactions (code A on Form 4) resulting from a corporate separation, not open-market buying or selling; such awards reflect company compensation or contract adjustments, not an immediate market purchase signal.
  • Because many items are derivative (options/RSUs), the timing of any share issuance or sale to the market will depend on exercise/vesting and any subsequent transactions reported on future Form 4s.

Insider Transaction Report

Form 4
Period: 2026-04-20
First Tracks Biotherapeutics, Inc.TRAX
FENTON DENNIS M
Director
Transactions
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+6,000→ 6,000 total
    Exercise: $31.82Exp: 2028-03-04→ Common Stock (6,000 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+5,507→ 5,507 total
    Exercise: $31.82Exp: 2028-03-04→ Common Stock (5,507 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+6,000→ 6,000 total
    Exercise: $18.43Exp: 2029-02-07→ Common Stock (6,000 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+11,000→ 11,000 total
    Exercise: $4.43Exp: 2030-02-11→ Common Stock (11,000 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+11,000→ 11,000 total
    Exercise: $7.95Exp: 2031-02-09→ Common Stock (11,000 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+9,200→ 9,200 total
    Exercise: $8.14Exp: 2032-02-09→ Common Stock (9,200 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+10,600→ 10,600 total
    Exercise: $6.22Exp: 2033-01-05→ Common Stock (10,600 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+16,510→ 16,510 total
    Exercise: $5.67Exp: 2034-01-02→ Common Stock (16,510 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+16,510→ 16,510 total
    Exercise: $3.97Exp: 2035-01-06→ Common Stock (16,510 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F4]
    2026-04-20+5,500→ 5,500 total
    Exercise: $11.75Exp: 2036-01-06→ Common Stock (5,500 underlying)
  • Award

    Restricted Stock Unit

    [F5][F6][F7]
    2026-04-20+6,030→ 6,030 total
    → Common Stock (6,030 underlying)
  • Award

    Restricted Stock Unit

    [F5][F6][F8]
    2026-04-20+4,000→ 4,000 total
    → Common Stock (4,000 underlying)
Holdings

  • Common Stock

    [F1]
    4,965
Footnotes (8)
  • [F1]Consists of shares of common stock received in connection with the spin-off of First Tracks Biotherapeutics, Inc. ("First Tracks") from AnaptysBio, Inc. ("AnaptysBio").
  • [F2]Effective as of a pro rata distribution by AnaptysBio to holders of its shares of common stock pursuant to the Separation and Distribution Agreement dated as of April 20, 2026, by and between AnaptysBio and First Tracks (the "Separation Agreement"), each outstanding option to acquire AnaptysBio shares of common stock was adjusted so that such option became an option to acquire First Tracks shares of common stock and an option to acquire AnaptysBio shares of common stock. As a result, the Reporting Person acquired options to acquire First Tracks shares of common stock in an amount determined in accordance with the Separation Agreement.
  • [F3]The stock option is fully vested and exercisable.
  • [F4]The stock option vests as to 1/12 of the total shares monthly commencing on February 6, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F5]Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
  • [F6]Effective as of a pro rata distribution by AnaptysBio to holders of its shares of common stock pursuant to the Separation Agreement, each outstanding RSU with respect to AnaptysBio shares of common stock was adjusted so that such RSU became an RSU with respect to First Tracks shares of common stock and an RSU with respect to AnaptysBio's shares of common stock. As a result, the Reporting Person acquired RSU s with respect to First Tracks shares of common stock in an amount determined in accordance with the Separation Agreement.
  • [F7]The RSUs vests as to 100% of the total RSUs on the date of the Issuer's 2026 annual meeting of shareholders, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F8]The RSUs vests as to 100% of the total RSUs on the date of the Issuer's 2027 annual meeting of shareholders, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
Signature
/s/ Ajim Tamboli, Attorney-in-Fact|2026-04-22

Documents

2 files