First Tracks (TRAX) CBO Benjamin Stone Receives Award of 60,492 PSUs

What Happened

• Benjamin Stone, Chief Business Officer of First Tracks Biotherapeutics (TRAX), was granted 60,492 performance-based restricted stock units (PSUs) on August 2, 2026. The award was reported as a derivative grant at a $0.00 acquisition price (i.e., no cash purchase).

Key Details

• Transaction date and type: 2026-08-02 — Award/Grant (Form 4 code A); reported filing date 2026-08-05 (filed within the required reporting window).
• Price/Value reported: $0.00 per unit (standard for equity awards); total immediate cash outlay = $0.
• Instrument: 60,492 PSUs (each PSU is a conditional right to receive one share if earned and vested).
• Vesting/settlement: PSUs vest and settle over two years — 50% on Aug 2, 2027 and 50% on July 1, 2028 — subject to the Reporting Person’s continued service and certification of performance by the Compensation Committee.
• Shares owned after transaction: Not specified in the filing.
• Notes: PSUs were certified as earned by the Compensation Committee (footnote disclosure). This is a grant/settlement of performance-based equity, not an open-market purchase or sale.

Context

• These are performance-based equity awards (derivatives) that convert to common stock only if performance and service conditions are met; their ultimate value depends on the company’s future share price at settlement. Awards (vs. purchases or sales) are typically part of compensation and do not by themselves signal an immediate insider investment decision.