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First Tracks Biotherapeutics, Inc.·4

Apr 22, 4:05 PM ET

Marquet Magda 4

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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).