First Tracks (TRAX) CBO Benjamin Stone Receives 60,492-Share Award

What Happened

• Benjamin Stone, Chief Business Officer of First Tracks Biotherapeutics (TRAX), was granted 60,492 performance-based restricted stock units (PSUs) on August 15, 2026. The award is reported as a derivative acquisition at $0.00 (no cash paid).
• The PSUs were certified as earned by the Compensation Committee on August 15, 2026 and each PSU represents a conditional right to one share of common stock. The PSUs will vest and settle over two years (see vesting schedule below), subject to Stone’s continued service.

Key Details

• Transaction date: August 15, 2026; Form 4 filed August 18, 2026.
• Amount: 60,492 PSUs (reported as Award/Grant, code A), price reported $0.00.
• Vesting/settlement: 50% vests on August 15, 2027 and 50% vests on July 1, 2028, subject to continued service and the applicable performance certification.
• Footnotes: F1 — PSUs were earned upon achievement of performance criteria certified by the Compensation Committee; F2 — each PSU = right to one share; F3 — vesting schedule noted above.
• Shares owned after transaction: Not disclosed in this Form 4.
• Filing timing: Report filed three days after the transaction (Aug 15 → Aug 18); Form 4s are generally due within two business days of a reportable transaction.

Context

• This is a performance-based equity award (derivative) rather than an open-market purchase or sale. The award does not immediately transfer shares; shares will be issued only if performance and continued-service conditions are met and then on the stated vesting dates.
• Because no cash was paid and shares are subject to vesting and service conditions, this is not equivalent to an immediate ownership change that can be traded; it is a compensation-related grant.