Orwin John A 4

What Happened
John A. Orwin, a director of First Tracks Biotherapeutics, received 6,030 shares of common stock on June 15, 2026. The Form 4 records an exercise/conversion of a derivative (transaction code M) resulting in acquisition of 6,030 shares at $0.00 per share. A corresponding derivative disposal of 6,030 units is also reported, reflecting conversion/settlement of the award rather than a market sale.

Key Details

• Transaction date: June 15, 2026; Form 4 filed June 17, 2026 (appears timely).
• Shares acquired: 6,030 common shares; Price: $0.00 (shares issued on settlement of RSUs).
• Derivative code: M (exercise/conversion of derivative); filing shows both acquisition and derivative disposal entries consistent with conversion/settlement.
• Shares owned after transaction: not specified in this Form 4.
• Footnotes: F1 — each RSU is a contingent right to 1 share upon settlement for no consideration. F2 — the RSUs vested 100% on June 15, 2026, subject to the reporting person providing service on the vesting date.

Context
This was an award/vesting event (RSUs converted to shares), a common compensation action for insiders. Such transactions are routine and reflect grant vesting rather than an open-market purchase or sale; they do not necessarily signal a change in insider sentiment about the company.