Lizzul Paul F. 4
4 · First Tracks Biotherapeutics, Inc. · Filed May 14, 2026
Research Summary
AI-generated summary of this filing
First Tracks (TRAX) CMO Paul F. Lizzul Receives RSU and Option Awards
What Happened
Paul F. Lizzul, Chief Medical Officer of First Tracks Biotherapeutics (TRAX), was granted equity compensation on 2026-05-12 consisting of 26,700 restricted stock units (RSUs) and options covering 72,300 shares. Both awards show an acquisition price of $0 (they are compensatory derivative grants rather than market purchases or sales).
Key Details
- Transaction date: 2026-05-12; Form 4 filed 2026-05-14 (timely filing).
- Award details: 26,700 RSUs and options to purchase 72,300 shares; acquisition price reported as $0.
- Shares owned after the transaction: Not specified in the filing.
- Footnotes of note:
- RSUs = contingent right to receive 1 share upon settlement for no consideration (F1).
- RSU vesting: 25% annually starting 05/12/2027 until fully vested, subject to continued service (F2).
- Option vesting: 25% on 05/12/2027, then 1/48 monthly thereafter until fully vested (F3).
- Reporting person also holds additional options to purchase up to 507,310 shares that vest per their terms (F4).
- Transaction type: Award/Grant (code A) — compensation, not an open-market purchase or sale.
Context
RSUs and unexercised stock options are standard long-term incentive compensation. RSUs are rights to receive shares at settlement (no cash paid now); the options granted are not exercised in this filing. Because these are compensation grants with multi-year vesting, they signal planned retention/incentive rather than an immediate insider buy or sell.
Insider Transaction Report
- Award
Restricted Stock Unit
[F1][F2]2026-05-12+26,700→ 26,700 total→ Common Stock (26,700 underlying) - Award
Employee Stock Option (right to buy)
[F3][F4]2026-05-12+72,300→ 72,300 totalExercise: $17.81Exp: 2036-05-11→ Common Stock (72,300 underlying)
Footnotes (4)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- [F2]The RSUs vests as to 25% of the total RSUs annually commencing on May 12, 2027 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
- [F3]The stock option vests as to 25% of the total shares on May 12, 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.
- [F4]In addition to the options to purchase a total of 72,300 shares of common stock as set forth in Table II, the Reporting Person also holds additional options to purchase up to an aggregate of 507,310 shares of common stock, which options vest according to their terms.