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First Tracks Biotherapeutics, Inc.·4

Apr 22, 4:05 PM ET

Lizzul Paul F. 4

4 · First Tracks Biotherapeutics, Inc. · Filed Apr 22, 2026

Research Summary

AI-generated summary of this filing

Updated

First Tracks (TRAX) CMO Paul F. Lizzul Receives 581,540 Awards

What Happened

  • Paul F. Lizzul, Chief Medical Officer of First Tracks Biotherapeutics (TRAX), was granted/received a total of 581,540 derivative awards (recorded as acquisitions at $0.00) on 2026-04-20. The entries reflect multiple adjusted grants/awards (RSUs and option adjustments) tied to the spin‑off from AnaptysBio and the Separation and Distribution Agreement. These were not open‑market purchases or sales — they are awards/conversions of pre‑existing AnaptysBio awards into First Tracks securities.

Key Details

  • Transaction date: 2026-04-20; Form 4 filed: 2026-04-22 (timely).
  • Total derivative awards received: 581,540 units (various RSUs/options), all reported at $0.00 acquisition price.
  • Footnote summary:
    • Awards resulted from the AnaptysBio → First Tracks spin‑off and adjustment/conversion of prior AnaptysBio options/RSUs (footnotes F1, F2, F8).
    • RSUs represent a contingent right to 1 share upon settlement (F7).
    • Some awards/options are fully vested (F3); others vest 25% after initial anniversary dates (various start dates) then monthly thereafter (F4–F6, F9–F12).
  • The filing does not show a cash value paid at grant; these are not sales or purchases and should not be read as immediate market purchases.
  • No indication of a 10b5‑1 plan, tax‑withholding sale, or late filing in the Form 4.

Context

  • These entries are derivative grants/adjustments tied to corporate restructuring (spin‑off). They convert or reallocate pre‑existing equity awards rather than reflecting a buy/sell decision by the insider.
  • Vesting schedules vary (some immediate/fully vested, others vest over multiple years); vesting is subject to continued service. Such awards become informative to watch only as portions vest and, if/when shares are settled or sold, those later transactions will show economic impact.

Insider Transaction Report

Form 4
Period: 2026-04-20
First Tracks Biotherapeutics, Inc.TRAX
Lizzul Paul F.
Chief Medical Officer
Transactions
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+83,500→ 83,500 total
    Exercise: $4.95Exp: 2030-07-29→ Common Stock (83,500 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+45,000→ 45,000 total
    Exercise: $7.95Exp: 2031-02-09→ Common Stock (45,000 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+70,000→ 70,000 total
    Exercise: $8.14Exp: 2032-02-09→ Common Stock (70,000 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F3]
    2026-04-20+67,070→ 67,070 total
    Exercise: $6.22Exp: 2033-01-05→ Common Stock (67,070 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F4]
    2026-04-20+115,540→ 115,540 total
    Exercise: $5.67Exp: 2034-01-02→ Common Stock (115,540 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F5]
    2026-04-20+97,200→ 97,200 total
    Exercise: $3.97Exp: 2035-01-06→ Common Stock (97,200 underlying)
  • Award

    Stock Option (right to buy)

    [F2][F6]
    2026-04-20+29,000→ 29,000 total
    Exercise: $11.75Exp: 2036-01-06→ Common Stock (29,000 underlying)
  • Award

    Restricted Stock Unit

    [F7][F8][F9]
    2026-04-20+6,145→ 6,145 total
    → Common Stock (6,145 underlying)
  • Award

    Restricted Stock Unit

    [F7][F8][F10]
    2026-04-20+21,110→ 21,110 total
    → Common Stock (21,110 underlying)
  • Award

    Restricted Stock Unit

    [F7][F8][F11]
    2026-04-20+25,575→ 25,575 total
    → Common Stock (25,575 underlying)
  • Award

    Restricted Stock Unit

    [F7][F8][F12]
    2026-04-20+21,400→ 21,400 total
    → Common Stock (21,400 underlying)
Holdings

  • Common Stock

    [F1]
    42,669
Footnotes (12)
  • [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").
  • [F10]The RSUs vests as to 25% of the total RSUs annually commencing on January 3, 2025 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F11]The RSUs vests as to 25% of the total RSUs annually commencing on January 7, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F12]The RSUs vests as to 25% of the total RSUs annually commencing on January 6, 2027 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [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 25% of the total shares on January 3, 2025, and thereafter vests as to 1/48 of the total shares monthly until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F5]The stock option vests as to 25% of the total shares on January 7, 2026, and thereafter vests as to 1/48 of the total shares monthly until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F6]The stock option vests as to 25% of the total shares on January 6, 2027, and thereafter vests as to 1/48 of the total shares monthly until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
  • [F7]Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
  • [F8]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.
  • [F9]The RSUs vests as to 25% of the total RSUs annually commencing on January 6, 2024 until fully vested, 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

Documents

2 files