Faga Daniel 4

What Happened

• Daniel Faga, President, CEO and Director of First Tracks Biotherapeutics (TRAX), was granted two derivative awards on May 12, 2026: 100,200 restricted stock units (RSUs) and an option award covering 271,100 shares. Both awards are reported at $0.00 acquisition price (awarded, not purchased), so there was no cash paid by the insider.

Key Details

• Transaction date: May 12, 2026; Form 4 filed May 14, 2026 (appears timely under the 2-business-day rule).
• Award specifics:
  • 100,200 RSUs (each RSU converts to 1 share upon settlement) — footnote F1/F2.
  • Option covering 271,100 shares — footnotes F3/F4.
• Vesting:
  • RSUs vest 25% annually beginning May 12, 2027 until fully vested (F2).
  • The option vests 25% on May 12, 2027, then 1/48 of total shares monthly thereafter until fully vested (F3).
• Shares owned after transaction: not specified in the provided excerpt; Form notes the Reporting Person also holds additional options to purchase up to 1,035,941 shares (F4).
• Filing/timeliness: No late-filing indicator provided.

Context

• These are compensation awards (derivative grants), not open-market purchases or sales. RSUs are a contingent right to receive shares at settlement for no consideration; options give the right to buy shares according to the stated vesting schedule.
• Awards to executives are common for retention and performance incentives and do not reflect an immediate market transaction (no shares were sold or bought in the open market as part of this filing).