Marquet Magda 4

4 · First Tracks Biotherapeutics, Inc. · Filed May 14, 2026

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Updated May 15, 2026

First Tracks (TRAX) Director Magda Marquet Receives Awards

What Happened

Magda Marquet, a director of First Tracks Biotherapeutics, was granted derivative awards on 2026-05-12: 15,000 restricted stock units (RSUs) and an award covering 42,000 shares (derivative/option-type award). The awards were reported at $0.00 per share (no cash paid on grant). These are awards (code A) rather than open-market purchases or sales.

Key Details

Transaction date: 2026-05-12; Form 4 filed: 2026-05-14 (filed two days after the transaction).
Reported price: $0.00 per share (award/grant); reported acquisition value $0 on the Form 4 (this reflects grant accounting, not the market value of potential shares).
Vesting/settlement notes:
- The 15,000 RSUs: each RSU represents a contingent right to 1 share; vests 100% on the issuer’s 2027 annual meeting date, subject to continued service. (Footnotes F1–F2)
- The 42,000-share award: treated as options that vest 1/12 monthly beginning June 12, 2026 until fully vested, subject to continued service. (Footnote F3)
- In addition to the 42,000-share award, the reporting person holds options to purchase up to an additional aggregate of 70,104 shares that vest per their separate terms. (Footnote F4)
Shares owned after the transactions: not specified in the provided filing excerpt.

Context

These were grant/award transactions (derivative awards), not open-market buys or sales. RSUs represent a future right to receive shares at settlement; options vest over time and do not indicate an immediate sale or purchase of underlying stock.
Awards reported at $0 on Form 4 reflect the grant/award nature; they do not show the potential market value of the vested shares or options. No sale or exercise was reported in this filing.

Form 4

Period: 2026-05-12

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 total
Exercise: $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 70,104 shares of common stock, which options vest according to their terms.

Signature

/s/ Ajim Tamboli, Attorney-in-Fact|2026-05-14

1 file