FENTON DENNIS M 4

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.