Earnings Feed
Start Free
First Tracks Biotherapeutics, Inc.·4

Apr 22, 4:05 PM ET

Orwin John A 4

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

Research Summary

AI-generated summary of this filing

Updated

First Tracks (TRAX) Director John Orwin Receives 68,511-Share Award

What Happened

  • John A. Orwin, a director of First Tracks Biotherapeutics (TRAX), was granted a series of awards on April 20, 2026 that, in aggregate, represent 68,511 shares (derivative securities) of First Tracks common stock. Each grant was reported as acquired at $0.00 (no cash paid). These awards arose in connection with the spin-off/separation from AnaptysBio and include a mix of stock options and restricted stock units (RSUs).

Key Details

  • Transaction date: April 20, 2026; Form 4 filed April 22, 2026 (timely filing).
  • Total shares/derivative securities acquired: 68,511 (individual line items: 3,311; 10,600; 16,510; 16,510; 8,250; 1,300; 6,030; 6,000).
  • Price: $0.00 per share (award/grant; code A).
  • Shares owned after transaction: not specified in the filing provided.
  • Notable footnotes:
    • F1/F6: Awards resulted from the pro rata distribution/adjustments tied to the AnaptysBio → First Tracks separation.
    • F2: Existing AnaptysBio options/RSUs were adjusted so the reporting person received First Tracks options/RSUs per the Separation Agreement.
    • F3–F4: Some options are fully vested (F3); others vest monthly at 1/12 starting Feb 6, 2026 (F4).
    • F5–F9: RSUs represent rights to receive 1 share each on settlement; various RSU vesting schedules apply (1/3 annual tranches or full vesting at 2026/2027 annual meetings).
  • Transaction code: A (award/grant). This is not an open-market purchase or sale.

Context

  • These are derivative awards tied to a corporate spin-off and adjustments of pre-existing AnaptysBio equity, so the grants reflect corporate restructuring rather than a straightforward buy/sell signal. Awards reported at $0 often reflect conversion/adjustment mechanics (not an outlay by the insider).
  • For retail investors: awards and vesting schedules matter for potential future share supply; note whether awards are immediately vested (F3) or subject to future service-based vesting (F4, F7–F9).

Insider Transaction Report

Form 4
Period: 2026-04-20
First Tracks Biotherapeutics, Inc.TRAX
Orwin John A
Director
Transactions
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+3,311→ 3,311 total
    Exercise: $5.22Exp: 2033-09-14→ Common Stock (3,311 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+10,600→ 10,600 total
    Exercise: $5.22Exp: 2033-09-14→ 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+8,250→ 8,250 total
    Exercise: $11.75Exp: 2036-01-06→ Common Stock (8,250 underlying)
  • Award

    Restricted Stock Unit

    [F5][F6][F7]
    2026-04-20+1,300→ 1,300 total
    → Common Stock (1,300 underlying)
  • Award

    Restricted Stock Unit

    [F5][F6][F8]
    2026-04-20+6,030→ 6,030 total
    → Common Stock (6,030 underlying)
  • Award

    Restricted Stock Unit

    [F5][F6][F9]
    2026-04-20+6,000→ 6,000 total
    → Common Stock (6,000 underlying)
Holdings

  • Common Stock

    [F1]
    10,665
Footnotes (9)
  • [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 shall vest as to 1/3 of the total shares on September 15, 2024, and thereafter vests as to 1/3 of the total RSUs on September 15, 2025; and as to 1/3 of the total RSUs on September 15, 2026, subject to the provision of services to the Company on each vesting date.
  • [F8]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.
  • [F9]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