Faga Daniel 4

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.