Jain Rita 4

What Happened

• Rita Jain, a director of First Tracks Biotherapeutics (TRAX), had 7,330 restricted stock units (RSUs convertable to common shares) converted into 7,330 common shares on June 15, 2026 (reported $0 per share). The same day the filing shows disposals of 6,030 shares and 1,300 shares (total disposed = 7,330), each reported at $0. Net from these reported transactions: no net shares retained from the conversion.

Key Details

• Transaction date(s): June 15, 2026; Form 4 filed June 17, 2026 (timely within the usual 2-business-day reporting window).
• Prices/values reported: conversion/acquisition at $0.00; disposals reported at $0.00; total cash value reported $0.
• Shares owned after transaction: not specified in the excerpt of the filing.
• Footnotes of note:
  • F1: Each RSU is a contingent right to receive 1 share upon settlement for no consideration.
  • F2/F3: Vesting terms are described (either 100% vesting on June 15, 2026, or a 33.33%/33.33%/33.33% schedule through 2026, as noted in the filing).
• Transaction type: conversion/exercise of derivative (reported under code M) — i.e., RSUs converted into common stock and then disposed.

Context

• For retail investors: this was not an open-market purchase. The filing shows RSUs settling into shares and those shares being disposed the same day. The $0 reporting and the included footnotes indicate these were RSU settlements governed by vesting terms; filings like this often reflect standard settlement or withholding procedures rather than a market sale expressing investment conviction.