First Tracks Biotherapeutics (TRAX) details CEO performance stock unit award
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.
Positive
- None.
Negative
- None.
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 shares (Direct)
Footnotes (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
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.
