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First Tracks Biotherapeutics, Inc.·4

Apr 22, 4:05 PM ET

Faga Daniel 4

4 · First Tracks Biotherapeutics, Inc. · Filed Apr 22, 2026

Research Summary

AI-generated summary of this filing

Updated

First Tracks (TRAX) CEO Daniel Faga Receives Awards

What Happened

  • Daniel Faga, President, CEO and a director of First Tracks Biotherapeutics (TRAX), received multiple awards/adjustments on April 20, 2026. The Form 4 lists grants/adjustments totaling 1,302,258 derivative shares (mix of restricted stock units and option adjustments) with an acquisition price of $0.00 (reported as derivative transactions, code A).
  • Many of the awards arose from the pro rata spin-off/Separation Agreement with AnaptysBio (adjusting pre-existing AnaptysBio options/RSUs into First Tracks equivalents). The filing shows a mix of RSUs and options; at least one option is noted as fully vested. Market value is not stated in the filing (grants reported at $0.00).

Key Details

  • Transaction date: April 20, 2026; Form 4 filed April 22, 2026 (appears timely).
  • Total reported: 1,302,258 derivative shares (multiple line items) acquired at $0.00 each.
  • Shares owned after transaction: not specified in the provided summary of the filing.
  • Notable footnotes: F1/F2/F9 — awards and option/RSU adjustments resulted from the AnaptysBio spin-off; F3 — at least one option is fully vested; F4–F7 — option vesting schedules (25% at specified dates then monthly); F8/F10–F13 — RSU vesting schedules (typically 25% annually starting on listed dates).
  • No sales or cashless exercises reported; no 10b5-1 plan or tax-withholding sale noted in the summarized filing.

Context

  • These are derivative awards: RSUs represent a right to receive shares upon vesting; stock options give the right to buy shares (some vesting over time). Awards reported at $0 often reflect corporate adjustments (spin-offs, grants) and do not mean immediate cash exchanged.
  • For retail investors, such grants indicate management received equity compensation tied to the spin-off and employment/vesting schedules — informative about insider alignment but not an immediate market purchase or sale signal.

Insider Transaction Report

Form 4
Period: 2026-04-20
First Tracks Biotherapeutics, Inc.TRAX
Faga Daniel
DirectorPresident, CEO
Transactions
  • Award

    Employee Stock Option (right to buy)

    [F2][F3]
    2026-04-20+11,000→ 11,000 total
    Exercise: $8.33Exp: 2031-11-25→ Common Stock (11,000 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F2][F3]
    2026-04-20+2,321→ 2,321 total
    Exercise: $8.33Exp: 2031-11-25→ Common Stock (2,321 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F2][F3]
    2026-04-20+9,200→ 9,200 total
    Exercise: $8.14Exp: 2032-02-09→ Common Stock (9,200 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F2][F4]
    2026-04-20+194,900→ 194,900 total
    Exercise: $6.22Exp: 2033-01-05→ Common Stock (194,900 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F2][F5]
    2026-04-20+379,620→ 379,620 total
    Exercise: $5.67Exp: 2034-01-02→ Common Stock (379,620 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F2][F6]
    2026-04-20+305,500→ 305,500 total
    Exercise: $3.97Exp: 2035-01-06→ Common Stock (305,500 underlying)
  • Award

    Employee Stock Option (right to buy)

    [F2][F7]
    2026-04-20+133,400→ 133,400 total
    Exercise: $11.75Exp: 2036-01-06→ Common Stock (133,400 underlying)
  • Award

    Restricted Stock Unit

    [F8][F9][F10]
    2026-04-20+17,850→ 17,850 total
    → Common Stock (17,850 underlying)
  • Award

    Restricted Stock Unit

    [F8][F9][F11]
    2026-04-20+69,355→ 69,355 total
    → Common Stock (69,355 underlying)
  • Award

    Restricted Stock Unit

    [F8][F9][F12]
    2026-04-20+80,512→ 80,512 total
    → Common Stock (80,512 underlying)
  • Award

    Restricted Stock Unit

    [F8][F9][F13]
    2026-04-20+98,600→ 98,600 total
    → Common Stock (98,600 underlying)
Holdings

  • Common Stock

    [F1]
    496,684
Footnotes (13)
  • [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").
  • [F10]The RSUs vests as to 25% of the total RSUs annually commencing on January 6, 2024 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F11]The RSUs vests as to 25% of the total RSUs annually commencing on January 3, 2025 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F12]The RSUs vests as to 25% of the total RSUs annually commencing on January 7, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F13]The RSUs vests as to 25% of the total RSUs annually commencing on January 6, 2027 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [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 25% of the total shares on January 6, 2024, and thereafter vests as to 1/48 of the total shares monthly until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F5]The stock option vests as to 25% of the total shares on January 3, 2025, and thereafter vests as to 1/48 of the total shares monthly until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F6]The stock option vests as to 25% of the total shares on January 7, 2026, and thereafter vests as to 1/48 of the total shares monthly until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F7]The stock option vests as to 25% of the total shares on January 6, 2027, and thereafter vests as to 1/48 of the total shares monthly until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F8]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
  • [F9]Effective as of a pro rata distribution by AnaptysBio to holders of its shares of common stock pursuant to the Separation Agreement, each outstanding restricted stock unit ("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 RSUs with respect to First Tracks shares of common stock in an amount determined in accordance with the Separation Agreement.
Signature
/s/ Ajim Tamboli, Attorney-in-Fact|2026-04-22

Documents

2 files