Lizzul Paul F. 4

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.