First Tracks Biotherapeutics updates PSU holdings

First Tracks Biotherapeutics, Inc. updated its initial insider ownership report for President and CEO Daniel Faga to include 53,334 Performance Stock Units (PSUs) tied to common stock.

Rhea-AI Filing Summary

First Tracks Biotherapeutics, Inc. updated its initial insider ownership report for President and CEO Daniel Faga to include 53,334 Performance Stock Units (PSUs) tied to common stock. The PSUs carry a stated exercise price of $0.0000 per unit. According to the vesting terms, 50% of the PSUs vest and settle on March 12, 2027 and the remaining 50% on March 12, 2028, in each case subject to Faga’s continuing service with the company on the applicable vesting date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Faga Daniel

Role President, CEO

Type	Security	Shares	Price	Value
holding	Performance Stock Unit F1	--	--	--

Holdings After Transaction: Performance Stock Unit — 53,334 contracts (Direct)

Footnotes (1)

1. F1. The PSUs vest and settle over two years; 50% vests on March 12, 2027 and 50% vests on March 12, 2028, subject to the continuing service of the Reporting Person on each vesting date.

Key Figures

Performance Stock Units held: 53,334 units Underlying common shares: 53,334 shares Exercise/Conversion Price: $0.0000 per unit +2 more

5 metrics

Performance Stock Units held 53,334 units PSUs held by President and CEO Daniel Faga following the reported holdings entry

Underlying common shares 53,334 shares Common stock underlying the reported Performance Stock Units

Exercise/Conversion Price $0.0000 per unit Stated exercise or conversion price for the Performance Stock Units

First vesting tranche 50% Portion of PSUs vesting and settling on March 12, 2027, subject to continuing service

Second vesting tranche 50% Remaining PSUs vesting and settling on March 12, 2028, subject to continuing service

Key Terms

Performance Stock Unit, vest and settle, underlying security

3 terms

Performance Stock Unit financial

"This Form 3 Amendment ... is updated to reflect 53,334 performance stock units held"

A performance stock unit is a type of reward companies give to employees, usually managers, that depends on how well the company performs over time. If the company hits specific goals, the employee earns shares of stock, like earning a prize for reaching certain levels in a game. It motivates employees to work hard because their rewards are tied to the company's success.

vest and settle financial

"The PSUs vest and settle over two years; 50% vests on March 12, 2027"

underlying security financial

"underlying_security_title": "Common Stock","underlying_security_shares": "53334.0000""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Form 3/A for TRAX disclose about Daniel Faga’s holdings?

The amendment reports that President and CEO Daniel Faga holds 53,334 Performance Stock Units linked to First Tracks Biotherapeutics common stock. These PSUs are equity-based compensation that can settle in shares as they vest over time.

How many Performance Stock Units does the TRAX CEO hold after this amendment?

After the amendment, Daniel Faga is reported as holding 53,334 Performance Stock Units. Each PSU is tied to an equal number of shares of First Tracks Biotherapeutics common stock, subject to vesting and settlement conditions.

What is the vesting schedule of the CEO’s PSUs at First Tracks Biotherapeutics (TRAX)?

The PSUs vest and settle over two years: 50% on March 12, 2027 and the remaining 50% on March 12, 2028. Vesting on each date is conditioned on Daniel Faga’s continuing service with the company.

Is there an exercise or conversion price for the TRAX CEO’s Performance Stock Units?

The Performance Stock Units are reported with a stated exercise or conversion price of $0.0000 per unit. This indicates no cash exercise cost is associated with settlement, subject to the PSU terms and vesting conditions.

Are the TRAX CEO’s PSUs currently vested or unvested?

The footnote states the PSUs vest and settle over two years, with half vesting in 2027 and half in 2028. This indicates they are unvested awards that will become earned only if service continues through each vesting date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/07/2026 - 05:11 PM EDT Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Faga Daniel

(Last) (First) (Middle)

10770 WATERIDGE CIRCLE, SUITE 210

(Street)

SAN DIEGO CALIFORNIA 92121

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
04/20/2026

3. Issuer Name and Ticker or Trading Symbol
First Tracks Biotherapeutics, Inc. [ TRAX ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)
04/20/2026

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, CEO

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Stock Unit	(1)	(1)	Common Stock	53,334	$0	D

Explanation of Responses:

1. The PSUs vest and settle over two years; 50% vests on March 12, 2027 and 50% vests on March 12, 2028, subject to the continuing service of the Reporting Person on each vesting date.

Remarks:

This Form 3 Amendment, originally filed on April 20, 2026, is updated to reflect 53,334 performance stock units held by the Reporting Person.

	/s/ Ajim Tamboli, Attorney-in-Fact	08/07/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)