Orwin John A 4

What Happened
John A. Orwin, a director of First Tracks Biotherapeutics (TRAX), was granted a total of 57,000 restricted stock units (RSUs) on May 12, 2026 — 15,000 RSUs and 42,000 RSUs. Each RSU represents a contingent right to one share upon settlement for no consideration; the grants were reported at $0.00 per unit (total reported value $0). These are awards (not open-market purchases or sales) and do not involve immediate cash paid or received.

Key Details

• Transaction date: May 12, 2026; Form 4 filed May 14, 2026 (appears timely under the 2-business-day rule).
• Grants: 15,000 RSUs and 42,000 RSUs; reported price $0.00, total reported cash value $0.
• Shares owned after transaction: not specified in the provided filing.
• Notable footnotes:
  • F1: Each RSU converts to 1 common share on settlement for no consideration.
  • F2: The RSUs vest 100% on the date of the issuer’s 2027 annual meeting, subject to continued service.
  • F3: A stock option (referenced) vests 1/12 monthly beginning June 12, 2026.
  • F4: In addition to the options noted, the reporting person holds options to purchase up to 55,181 additional shares that vest per their terms.
• Transaction type: Award/Grant (code A); derivative award rather than exercise/sale.

Context
RSU grants are compensation awards that typically convert into shares on vesting/settlement; they do not indicate an immediate purchase or sale by the insider. The filing also references vested/vesting stock options (monthly vesting starting June 12, 2026) and additional outstanding option capacity, which may affect future insider ownership if exercised or settled.