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Director at First Tracks Biotherapeutics (NASDAQ: TRAX) receives equity awards

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

First Tracks Biotherapeutics director John P. Schmid received new equity awards as part of his compensation. He was granted stock options covering 42,000 shares of common stock at an exercise price of $17.81 per share, expiring on 2036-05-11.

The option vests in equal monthly installments, with 1/12 of the shares vesting each month starting on 2026-06-12, as long as he continues serving the company. Schmid also received 15,000 restricted stock units, each representing a right to one share of common stock at no cost upon settlement.

These RSUs vest 100% on the date of First Tracks Biotherapeutics’ 2027 annual shareholder meeting, subject to continued service. In addition to the newly granted 42,000 options, he already holds options to purchase up to an aggregate of 107,320 shares of common stock that vest according to their existing terms.

Positive

  • None.

Negative

  • None.
Insider Schmid John P.
Role null
Type Security Shares Price Value
Grant/Award Restricted Stock Unit 15,000 $0.00 --
Grant/Award Stock Option (right to buy) 42,000 $0.00 --
Holdings After Transaction: Restricted Stock Unit — 15,000 shares (Direct, null); Stock Option (right to buy) — 42,000 shares (Direct, null)
Footnotes (1)
  1. Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration. The RSUs vests as to 100% of the total RSUs on the date of the Issuer's 2027 annual meeting of shareholders, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The stock option vests as to 1/12 of the total shares monthly commencing on June 12, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. In addition to the options to purchase a total of 42,000 shares of common stock as set forth in Table II, the Reporting Person also holds additional options to purchase up to an aggregate of 107,320 shares of common stock, which options vest according to their terms.
Option grant size 42,000 shares Stock options on common stock granted to director
Option exercise price $17.81 per share Exercise price for newly granted stock options
Option expiration May 11, 2036 Expiration date of stock option grant
RSU grant size 15,000 units Restricted stock units convertible 1:1 into common stock
RSU vesting date 2027 annual meeting RSUs vest 100% at 2027 shareholder meeting
Monthly option vesting 1/12 per month Vests monthly starting June 12, 2026, subject to service
Existing options held 107,320 shares Additional options to purchase common stock already held
Restricted Stock Unit financial
"Each restricted stock unit ("RSU") represents a contingent right"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
RSU financial
"Each restricted stock unit ("RSU") represents a contingent right"
Restricted stock units (RSUs) are a form of company shares given to employees as part of their compensation, usually with certain restrictions or conditions, such as remaining with the company for a set period. When these restrictions lift, employees receive actual shares that they can sell or hold. For investors, RSUs can impact a company's stock supply and reflect the company's commitment to attracting and retaining talent.
stock option financial
"The stock option vests as to 1/12 of the total shares monthly"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
contingent right financial
"represents a contingent right to receive 1 share of the Issuer's Common Stock"
vests financial
"The RSUs vests as to 100% of the total RSUs on the date"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Schmid John P.
(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/12/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Unit(1)05/12/2026A15,000 (2) (2)Common Stock15,000$015,000D
Stock Option (right to buy)$17.8105/12/2026A42,000 (3)05/11/2036Common Stock42,000$042,000(4)D
Explanation of Responses:
1. Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
2. The RSUs vests as to 100% of the total RSUs on the date of the Issuer's 2027 annual meeting of shareholders, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
3. The stock option vests as to 1/12 of the total shares monthly commencing on June 12, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
4. In addition to the options to purchase a total of 42,000 shares of common stock as set forth in Table II, the Reporting Person also holds additional options to purchase up to an aggregate of 107,320 shares of common stock, which options vest according to their terms.
/s/ Ajim Tamboli, Attorney-in-Fact05/14/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What equity awards did John P. Schmid receive from First Tracks Biotherapeutics (TRAX)?

John P. Schmid received stock options on 42,000 shares and 15,000 restricted stock units. The options have an exercise price of $17.81 per share, while each RSU converts into one share of common stock for no cash consideration at settlement.

How do the new stock options for TRAX director John P. Schmid vest?

The 42,000 stock options vest in 12 equal monthly installments, with 1/12 vesting each month starting June 12, 2026. Vesting is conditional on Schmid continuing to provide service to First Tracks Biotherapeutics on each vesting date.

When do John P. Schmid’s restricted stock units in TRAX vest?

The 15,000 restricted stock units vest 100% on the date of First Tracks Biotherapeutics’ 2027 annual meeting of shareholders. Vesting requires that Schmid continue providing service to the company through that meeting date, according to the filing.

What is the exercise price and expiration date of the new TRAX stock options?

The new stock options granted to John P. Schmid have an exercise price of $17.81 per share and an expiration date of May 11, 2036. These options give him the right to buy First Tracks Biotherapeutics common stock at that fixed price.

Are John P. Schmid’s TRAX equity awards open-market purchases or compensation grants?

The filing classifies both transactions as grants or awards, not open-market purchases. The options and restricted stock units are compensation-related equity awards provided by First Tracks Biotherapeutics, contingent on continued service and specific vesting schedules.

What additional TRAX options does John P. Schmid hold beyond the new grant?

In addition to the newly granted options on 42,000 shares, John P. Schmid holds options to purchase up to an aggregate of 107,320 shares of First Tracks Biotherapeutics common stock. These existing options vest according to their own previously established terms.