Schmid John P. 4

What Happened
John P. Schmid, a director of First Tracks Biotherapeutics, acquired a total of 117,350 shares or share-equivalents (options and restricted stock units and/or common shares) on April 20, 2026 at an acquisition price of $0.00. These awards and adjustments arose in connection with First Tracks’ spin-off from AnaptysBio and included multiple grants and converted awards/options; the total reported value at grant was $0 (derivative awards, not cash purchases or sales).

Key Details

• Transaction date: April 20, 2026; Form 4 filed April 22, 2026 (appears timely).
• Total reported amount acquired: 117,350 shares/share-equivalents, all reported at $0.00.
• Instruments involved: mix of common stock received in the spin-off, converted stock options, and restricted stock units (RSUs) per the Separation and Distribution Agreement.
• Shares owned after the transaction: not specified in the filing.
• Notable footnotes:
  • F1: Some common shares were received directly from the spin-off.
  • F2: Outstanding AnaptysBio options were adjusted pro rata and converted into First Tracks options.
  • F3/F4: Some stock options are fully vested (F3); others vest monthly (1/12 per month starting 2/6/2026) (F4).
  • F5/F6/F7/F8: RSUs represent rights to 1 share each; certain RSUs were converted from AnaptysBio RSUs and vest either 100% at the 2026 annual meeting or 100% at the 2027 annual meeting.
• Transaction type code: A = Award/Grant (derivative awards), not a market purchase or sale.

Context
These entries reflect spin-off-related award conversions and new grants rather than open-market buying or selling. Options noted include some that are fully vested and some subject to time-based vesting; RSUs convert into shares upon settlement for no additional consideration. Such awards are common in corporate separations and reflect compensation/adjustments tied to the spin-off rather than a director buying or selling stock for market sentiment.