Orwin John A 4

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).