Marquet Magda 4
4 · First Tracks Biotherapeutics, Inc. · Filed Apr 22, 2026
Research Summary
AI-generated summary of this filing
First Tracks (TRAX) Director Magda Marquet Receives Award
What Happened Magda Marquet, a director of First Tracks Biotherapeutics (TRAX), was granted/received a total of 80,134 derivative securities on April 20, 2026. The filing lists nine award/adjustment line items (totaling 80,134 shares) reported at $0.00 per share — these represent awards or converted derivative interests (options and restricted stock units) issued in connection with the spin‑off from AnaptysBio, not open‑market purchases or sales.
Key Details
- Transaction date: April 20, 2026; Form 4 filed April 22, 2026 (within the normal 2‑business‑day reporting window).
- Total awarded/adjusted: 80,134 derivative shares (all reported at $0.00 per share; total reported value $0).
- Shares owned after transaction: Not specified in the excerpt of the filing provided.
- Nature of awards: Derivative securities (options and RSUs) and/or shares received/adjusted due to the AnaptysBio → First Tracks separation (see footnotes).
- Notable footnotes (summary):
- F1/F6: Some shares/RSUs were received or adjusted as part of the pro rata spin‑off from AnaptysBio.
- F2: Existing AnaptysBio options were split/adjusted so holder now has options in both First Tracks and AnaptysBio.
- F3: At least one stock option reported is fully vested and exercisable.
- F4: Another option vests monthly (1/12 per month) beginning Feb 6, 2026, subject to continued service.
- F5–F8: RSUs represent rights to receive common shares for no consideration; vesting schedules include 100% at the 2026 or 2027 annual meeting for certain RSUs.
- Filing timeliness: Filed April 22 for transactions on April 20 — appears timely.
Context These were awards/adjustments tied to a corporate separation (spin‑off), not open‑market buys or sales. Reporting at $0.00 typically means the securities were issued or allocated as part of the spin‑off/adjustment process (conversion of prior AnaptysBio options/RSUs) rather than a cash transaction. For retail investors: awards and spin‑off conversions are corporate actions and don’t necessarily signal the insider’s market view; note vesting and exercisability details (some items are already vested, others vest over time).
Insider Transaction Report
- Award
Stock Option (right to buy)
[F2][F3]2026-04-20+784→ 784 totalExercise: $6.99Exp: 2031-01-17→ Common Stock (784 underlying) - Award
Stock Option (right to buy)
[F2][F3]2026-04-20+11,000→ 11,000 totalExercise: $7.95Exp: 2031-02-09→ Common Stock (11,000 underlying) - Award
Stock Option (right to buy)
[F2][F3]2026-04-20+9,200→ 9,200 totalExercise: $8.14Exp: 2032-02-09→ Common Stock (9,200 underlying) - Award
Stock Option (right to buy)
[F2][F3]2026-04-20+10,600→ 10,600 totalExercise: $6.22Exp: 2033-01-05→ Common Stock (10,600 underlying) - Award
Stock Option (right to buy)
[F2][F3]2026-04-20+16,510→ 16,510 totalExercise: $5.67Exp: 2034-01-02→ Common Stock (16,510 underlying) - Award
Stock Option (right to buy)
[F2][F3]2026-04-20+16,510→ 16,510 totalExercise: $3.97Exp: 2035-01-06→ Common Stock (16,510 underlying) - Award
Stock Option (right to buy)
[F2][F4]2026-04-20+5,500→ 5,500 totalExercise: $11.75Exp: 2036-01-06→ Common Stock (5,500 underlying) - Award
Restricted Stock Unit
[F5][F6][F7]2026-04-20+6,030→ 6,030 total→ Common Stock (6,030 underlying) - Award
Restricted Stock Unit
[F5][F6][F8]2026-04-20+4,000→ 4,000 total→ Common Stock (4,000 underlying)
- 9,930
Common Stock
[F1]
Footnotes (8)
- [F1]Consists of shares of common stock received in connection with the spin-off of First Tracks Biotherapeutics, Inc. ("First Tracks") from AnaptysBio, Inc. ("AnaptysBio").
- [F2]Effective as of a pro rata distribution by AnaptysBio to holders of its shares of common stock pursuant to the Separation and Distribution Agreement dated as of April 20, 2026, by and between AnaptysBio and First Tracks (the "Separation Agreement"), each outstanding option to acquire AnaptysBio shares of common stock was adjusted so that such option became an option to acquire First Tracks shares of common stock and an option to acquire AnaptysBio shares of common stock. As a result, the Reporting Person acquired options to acquire First Tracks shares of common stock in an amount determined in accordance with the Separation Agreement.
- [F3]The stock option is fully vested and exercisable.
- [F4]The stock option vests as to 1/12 of the total shares monthly commencing on February 6, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
- [F5]Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- [F6]Effective as of a pro rata distribution by AnaptysBio to holders of its shares of common stock pursuant to the Separation Agreement, each outstanding RSU with respect to AnaptysBio shares of common stock was adjusted so that such RSU became an RSU with respect to First Tracks shares of common stock and an RSU with respect to AnaptysBio's shares of common stock. As a result, the Reporting Person acquired RSU s with respect to First Tracks shares of common stock in an amount determined in accordance with the Separation Agreement.
- [F7]The RSUs vests as to 100% of the total RSUs on the date of the Issuer's 2026 annual meeting of shareholders, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
- [F8]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.