Schmid John P. 4
4 · First Tracks Biotherapeutics, Inc. · Filed May 14, 2026
Research Summary
AI-generated summary of this filing
First Tracks (TRAX) Director John Schmid Receives RSUs & Options
What Happened
John P. Schmid, a director of First Tracks Biotherapeutics, was granted two derivative awards on May 12, 2026: 15,000 restricted stock units (RSUs) and options to purchase 42,000 shares. Both awards were reported at $0.00 (no cash exchanged at grant); the filing classifies these as awards/grants (derivative securities) rather than open-market buys or sales.
Key Details
- Transaction date: May 12, 2026; Form 4 filed May 14, 2026 (timely filing).
- Awards: 15,000 RSUs and options covering 42,000 shares; grant price reported $0.00 (award/derivative).
- Shares owned after transaction: not specified in the details provided; the filing also notes the Reporting Person holds additional options to purchase up to an aggregate of 107,320 shares.
- Footnotes of note:
- F1: Each RSU represents a contingent right to receive 1 share upon settlement for no consideration.
- F2: The 15,000 RSUs vest 100% on the issuer’s 2027 annual meeting date, subject to continued service.
- F3: The 42,000-option grant vests 1/12 monthly starting June 12, 2026, subject to continued service.
- F4: Reporting person also holds additional options to buy up to 107,320 shares under separate grants.
Context
- These are compensation awards, not open-market purchases or sales; no immediate shares were bought or sold. RSUs convert into shares upon vesting (no cash payment by the grantee), and options will vest over time per the schedule above. Such grants are common for director compensation and reflect future potential ownership rather than an immediate market trade.
Insider Transaction Report
Form 4
Schmid John P.
Director
Transactions
- Award
Restricted Stock Unit
[F1][F2]2026-05-12+15,000→ 15,000 total→ Common Stock (15,000 underlying) - Award
Stock Option (right to buy)
[F3][F4]2026-05-12+42,000→ 42,000 totalExercise: $17.81Exp: 2036-05-11→ Common Stock (42,000 underlying)
Footnotes (4)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- [F2]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.
- [F3]The stock option vests as to 1/12 of the total shares monthly commencing on June 12, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
- [F4]In addition to the options to purchase a total of 42,000 shares of common stock as set forth in Table II, the Reporting Person also holds additional options to purchase up to an aggregate of 107,320 shares of common stock, which options vest according to their terms.
Signature
/s/ Ajim Tamboli, Attorney-in-Fact|2026-05-14