Jain Rita 4
4 · First Tracks Biotherapeutics, Inc. · Filed Apr 22, 2026
Research Summary
AI-generated summary of this filing
First Tracks (TRAX) Director Rita Jain Receives 68,465 Awards
What Happened
- Rita Jain, a director of First Tracks Biotherapeutics, acquired a total of 68,465 derivative awards on April 20, 2026. The filing lists eight grant entries (10,600; 8,015; 16,510; 16,510; 5,500; 1,300; 6,030; 4,000) at $0.00 per award (reported as type A — award/grant). These awards represent a mix of stock options and restricted stock units (RSUs) that were allocated in connection with First Tracks’ spin-off from AnaptysBio.
- No cash was paid on acquisition (grants at $0). This is not a sale; it’s a distribution/award tied to the corporate separation and associated adjustments of pre-existing AnaptysBio awards.
Key Details
- Transaction date: April 20, 2026; Form 4 filed April 22, 2026 (timely).
- Price: $0.00 per award; Total awards: 68,465 derivative securities.
- Shares owned after transaction: not specified in the provided filing details.
- Transaction code: A = Award/Grant (derivative securities: options and RSUs).
- Notable footnotes:
- Spin-off-related distribution from AnaptysBio (F1, F2, F6): pre-existing AnaptysBio options/RSUs were adjusted pro rata into First Tracks awards under the Separation Agreement.
- Vesting/exercise specifics: some options are fully vested and exercisable (F3); others vest monthly starting Feb 6, 2026 (1/12 monthly) (F4); RSUs have varying schedules — 33.33% annual tranches through June 15, 2026 (F7), or cliff vesting at the Issuer’s 2026 or 2027 annual meetings (F8, F9). Each RSU represents a contingent right to one share upon settlement for no consideration (F5).
- Filing timeliness: filed within the normal Form 4 reporting window (no late-filing indication).
Context
- These awards result from corporate reorganization (spin-off) and the adjustment of prior AnaptysBio equity awards, rather than a market purchase or sale. That means they primarily reflect corporate mechanics and contractual vesting, not a direct insider market signal.
- For retail investors: focus on vesting and potential dilution — some awards are already vested or become exercisable soon, while others remain subject to future service-based vesting.
Insider Transaction Report
Form 4
Jain Rita
Director
Transactions
- Award
Stock Option (right to buy)
[F2][F3]2026-04-20+10,600→ 10,600 totalExercise: $5.91Exp: 2033-04-02→ Common Stock (10,600 underlying) - Award
Stock Option (right to buy)
[F2][F3]2026-04-20+8,015→ 8,015 totalExercise: $5.91Exp: 2033-04-02→ Common Stock (8,015 underlying) - Award
Stock Option (right to buy)
[F2][F3]2026-04-20+16,510→ 16,510 totalExercise: $5.67Exp: 2034-01-02→ Common Stock (16,510 underlying) - Award
Stock Option (right to buy)
[F2][F3]2026-04-20+16,510→ 16,510 totalExercise: $3.97Exp: 2035-01-06→ Common Stock (16,510 underlying) - Award
Stock Option (right to buy)
[F2][F4]2026-04-20+5,500→ 5,500 totalExercise: $11.75Exp: 2036-01-06→ Common Stock (5,500 underlying) - Award
Restricted Stock Unit
[F5][F6][F7]2026-04-20+1,300→ 1,300 total→ Common Stock (1,300 underlying) - Award
Restricted Stock Unit
[F5][F6][F8]2026-04-20+6,030→ 6,030 total→ Common Stock (6,030 underlying) - Award
Restricted Stock Unit
[F5][F6][F9]2026-04-20+4,000→ 4,000 total→ Common Stock (4,000 underlying)
Holdings
- 11,864
Common Stock
[F1]
Footnotes (9)
- [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").
- [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 1/12 of the total shares monthly commencing on February 6, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
- [F5]Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- [F6]Effective as of a pro rata distribution by AnaptysBio to holders of its shares of common stock pursuant to the Separation Agreement, each outstanding 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 RSU s with respect to First Tracks shares of common stock in an amount determined in accordance with the Separation Agreement.
- [F7]The RSUs shall vest as to 33.33% of the total shares on June 15, 2024, and thereafter vests as to 33.33% of the total RSUs on June 15, 2025; and as to 33.33% of the total RSUs on June 15, 2026, subject to the provision of services to the Company on each vesting date.
- [F8]The RSUs vests as to 100% of the total RSUs on the date of the Issuer's 2026 annual meeting of shareholders, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
- [F9]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.
Signature
/s/ Ajim Tamboli, Attorney-in-Fact|2026-04-22