STONE BENJAMIN 4
4 · First Tracks Biotherapeutics, Inc. · Filed May 14, 2026
Research Summary
AI-generated summary of this filing
First Tracks (TRAX) CBO Benjamin Stone Receives Equity Award
What Happened Benjamin Stone, Chief Business Officer of First Tracks Biotherapeutics (TRAX), received equity awards on May 12, 2026: 26,700 restricted stock units (RSUs) and an option grant covering 72,300 shares. Both awards were reported as acquired at $0.00 (no cash exchanged) and are derivative awards (not open-market purchases or sales). The RSUs are rights to receive shares upon settlement; the option grant gives the right to purchase shares subject to vesting.
Key Details
- Transaction date: May 12, 2026. Form filed May 14, 2026 (timely filing).
- Awards: 26,700 RSUs and an option grant for 72,300 shares; reported price $0.00; reported immediate value $0 (award/grant).
- Vesting (per footnotes): RSUs vest 25% annually beginning May 12, 2027. The option vests 25% on May 12, 2027, then 1/48 of the total monthly thereafter until fully vested.
- Additional holdings: Reporting person also holds options to purchase up to an aggregate 337,140 additional shares (vests per separate terms).
- Shares owned after transaction: Not specified in the provided filing excerpt.
- No indication of a 10b5-1 plan, tax withholding sale, or immediate sale of shares in this filing.
Context RSUs are contingent rights to receive shares upon settlement and do not require immediate cash outlay; option grants give a future right to buy shares according to the vesting schedule. Grants are common executive compensation and do not, by themselves, indicate immediate buying or selling intent. This filing documents compensation-related awards rather than open-market insider purchases or dispositions.
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 337,140 shares of common stock, which options vest according to their terms.