First Tracks CEO Faga awarded 136,000 performance shares

Vesting depends on share-price metrics and continued service, with unvested achieved units scheduled to vest on December 15, 2030, subject to the stated condition.

Available on EDGAR 11/03/2026 - 06:01 PM EST Accepted by SEC EDGAR 11/03/2026 - 06:01 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

First Tracks Biotherapeutics, Inc. President and CEO Daniel Faga reported an award of 136,000 performance stock units on November 1, 2026. Each unit is a contingent right to receive one common share for no consideration upon settlement. Once a Performance Metric is met, 50% of the Achieved PSUs for each satisfied tranche vest on the one-year anniversary of its Certification Date, and the remaining 50% on the two-year anniversary. Achieved PSUs not previously vested will vest on December 15, 2030, or on the Certification Date if a Share Price Target is achieved that day, subject to service on each vesting date.

Insider Trade Summary

Grant/Award: 136,000 shares

Grant/Award 1 txn

Insider Faga Daniel

Role President, CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1, F2, F3	136,000	$0.00	$0.00

Holdings After Transaction: Common Stock — 136,000 contracts (Direct)

Footnotes (3)

1. F1. Each performance stock unit ("PSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
2. F2. Shares earned upon the vesting of a percentage of the PSUs granted to the Reporting Person on November 1, 2026. Each PSU represents a contingent right to receive one share of Issuer common stock upon the Issuer's achievement of certain share price metrics ("Performance Metrics"). Once an applicable Performance Metric has been met, the PSUs subject to such Performance Metric (an "Achieved PSU") shall vest as follows: 50% of the Achieved PSUs for each satisfied tranche shall vest on the one-year anniversary of the Certification Date of the achievement of the applicable Performance Metric, and the remaining 50% of the Achieved PSUs shall vest on the two-year anniversary of the applicable Certification Date.
3. F3. (cont'd from Footnote 2) Notwithstanding the foregoing, all Achieved PSUs that have not previously vested pursuant to the vesting schedule will vest on December 15, 2030 (or, if a Share Price Target is achieved on December 15, 2030, vesting will occur on its Certification Date), subject to the Reporting Person's service to the Issue on each vesting date.

Key Figures

Performance stock units awarded: 136,000 performance stock units Common shares per performance stock unit: 1 common share First vesting tranche: 50% +3 more

6 metrics

Performance stock units awarded 136,000 performance stock units Award to President and CEO Daniel Faga on November 1, 2026

Common shares per performance stock unit 1 common share Contingent right upon settlement for no consideration

First vesting tranche 50% Of Achieved PSUs for each satisfied tranche, on the one-year anniversary of the applicable Certification Date

First vesting anniversary 1 year After the applicable Certification Date

Remaining vesting anniversary 2 years After the applicable Certification Date

Scheduled vesting date for Achieved PSUs not previously vested December 15, 2030 Subject to the stated Share Price Target condition and service on each vesting date

Key Terms

performance stock unit, Performance Metrics, Achieved PSU, Certification Date

4 terms

performance stock unit financial

"Each performance stock unit ("PSU") represents a contingent right"

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.

Performance Metrics financial

"certain share price metrics ("Performance Metrics")"

Performance metrics are concrete numbers or ratios that show how well a business, product, or investment is doing—like speed, fuel use and mileage on a car’s dashboard. They measure things investors care about, such as sales growth, profitability, cash flow, customer retention or efficiency, so readers can compare progress, spot strengths or problems, and make informed decisions about buying, holding or selling shares.

Achieved PSU financial

"the PSUs subject to such Performance Metric (an "Achieved PSU")"

Certification Date technical

"the one-year anniversary of the Certification Date"

FAQ

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

How many performance stock units did TRAX CEO Daniel Faga receive?

Daniel Faga was awarded 136,000 performance stock units on November 1, 2026. Each unit represents a contingent right to receive one common share upon settlement for no consideration.

When do Daniel Faga’s TRAX performance stock units vest?

The units vest after specified share-price metrics are met and are subject to continued service. For each satisfied tranche, 50% of the Achieved PSUs vest on the one-year anniversary of the applicable Certification Date and the remaining 50% on the two-year anniversary. Achieved PSUs not previously vested will vest on December 15, 2030, subject to the stated Share Price Target condition and service on each vesting date.

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

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SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/01/2026

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

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

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock	(1)	11/01/2026		A		136,000		(2)(3)	(2)(3)	Common Stock	136,000	$0	136,000	D

Explanation of Responses:

1. Each performance stock unit ("PSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.

2. Shares earned upon the vesting of a percentage of the PSUs granted to the Reporting Person on November 1, 2026. Each PSU represents a contingent right to receive one share of Issuer common stock upon the Issuer's achievement of certain share price metrics ("Performance Metrics"). Once an applicable Performance Metric has been met, the PSUs subject to such Performance Metric (an "Achieved PSU") shall vest as follows: 50% of the Achieved PSUs for each satisfied tranche shall vest on the one-year anniversary of the Certification Date of the achievement of the applicable Performance Metric, and the remaining 50% of the Achieved PSUs shall vest on the two-year anniversary of the applicable Certification Date.

3. (cont'd from Footnote 2) Notwithstanding the foregoing, all Achieved PSUs that have not previously vested pursuant to the vesting schedule will vest on December 15, 2030 (or, if a Share Price Target is achieved on December 15, 2030, vesting will occur on its Certification Date), subject to the Reporting Person's service to the Issue on each vesting date.

	/s/ Ajim Tamboli, Attorney-in-Fact	11/03/2026
	** 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 4 (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 4: SEC 1474 (03-26)