Schmid John P. 4

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.