FENTON DENNIS M 4
4 · First Tracks Biotherapeutics, Inc. · Filed May 14, 2026
Research Summary
AI-generated summary of this filing
First Tracks (TRAX) Director Dennis Fenton Receives RSUs and Options
What Happened Dennis M. Fenton, a director of First Tracks Biotherapeutics, was granted two equity awards on May 12, 2026: 15,000 restricted stock units (RSUs) and a derivative award covering 42,000 shares (reported as a zero-price acquisition). The reported acquisition price is $0.00, so the filing shows $0 cash outlay at grant; these are compensation-style awards rather than open-market purchases or sales.
Key Details
- Transaction date: May 12, 2026; Form 4 filed May 14, 2026 (timely filing).
- Grant details: 15,000 RSUs and an award/option for 42,000 shares; reported price $0.00 (derivative awards).
- Vesting: RSUs vest 100% on the issuer’s 2027 annual meeting of shareholders, subject to continued service. The 42,000-option award vests 1/12 monthly beginning June 12, 2026 until fully vested, subject to service.
- Additional holdings: Reporting person also holds options to purchase up to an aggregate of 97,827 additional shares (per filing footnote).
- Shares owned after the transaction: not specified in this filing.
- Type: Award/Grant (code A) — compensation, not a purchase or sale.
Context These entries are compensation grants to a director. RSUs convert into common shares for no additional payment when they settle; the option-style award will vest monthly per the schedule above. Such grants are routine for executive/director compensation and do not by themselves signal buying or selling activity in the open market.
Insider Transaction Report
- Award
Restricted Stock Unit
[F1][F2]2026-05-12+15,000→ 15,000 total→ Common Stock (15,000 underlying) - Award
Stock Option (right to buy)
[F3][F4]2026-05-12+42,000→ 42,000 totalExercise: $17.81Exp: 2036-05-11→ Common Stock (42,000 underlying)
Footnotes (4)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- [F2]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.
- [F3]The stock option vests as to 1/12 of the total shares monthly commencing on June 12, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
- [F4]In addition to the options to purchase a total of 42,000 shares of common stock as set forth in Table II, the Reporting Person also holds additional options to purchase up to an aggregate of 97,827 shares of common stock, which options vest according to their terms.