First Tracks (TRAX) CEO Daniel Faga Receives Award of 193,576 PSUs

What Happened
Daniel Faga, President, CEO and Director of First Tracks Biotherapeutics, was granted 193,576 performance-based restricted stock units (PSUs) on August 2, 2026. The award is reported as a derivative acquisition (transaction code A) at $0.00 per unit; each PSU is a conditional right to one share of common stock if performance and service conditions are met.

Key Details

• Transaction date: August 2, 2026; Form 4 filed August 5, 2026 (filing appears timely).
• Amount: 193,576 PSUs granted; reported acquisition price $0.00 (derivative award).
• Footnotes: PSUs were earned upon certification by the Compensation Committee (F1). Each PSU equals one share upon settlement (F2).
• Vesting/settlement: PSUs vest and settle over two years — 50% on Aug 2, 2027 and 50% on July 1, 2028 — subject to continued service (F3).
• Shares owned after transaction: not specified in the provided filing summary.

Context
This was a compensation award (not an open-market purchase or sale). PSUs are conditional rights to future shares and only convert to actual stock if performance and service vesting conditions are satisfied; the $0 grant price reflects that no cash was paid by the insider at grant. Compensation awards are common for executives and reflect pay decisions rather than direct buying/selling of stock.