First Tracks Biotherapeutics (TRAX) awards 60,492 performance stock units
Rhea-AI Filing Summary
STONE BENJAMIN reported acquisition or exercise transactions in this Form 4 filing.
First Tracks Biotherapeutics, Inc. granted Chief Business Officer Benjamin Stone 60,492 performance-based restricted stock units (PSUs) on August 2, 2026, each representing one share of common stock. The PSUs were earned upon certified achievement of performance criteria and vest over two years: 50% on August 2, 2027 and 50% on July 1, 2028, subject to his continued service on each vesting date. Following this award, Stone directly holds 77,159 PSUs.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
STONE BENJAMIN
Role
Chief Business Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Stock Units F1, F2, F3 | 60,492 | $0.00 | $0.00 |
Holdings After Transaction:
Performance Stock Units — 77,159 shares (Direct)
Footnotes (3)
- F1. Represents performance-based restricted stock units ("PSUs") that were earned by the Reporting Person upon the achievement of certain performance criteria as certified by the Compensation Committee of the Issuer's Board of Directors on August 2, 2026.
- F2. Each PSU represents a conditional right to receive one share of the Issuer's Common Stock.
- F3. The PSUs vest and settle over two years; 50% vests on August 2, 2027 and 50% vests on July 1, 2028, subject to the continuing service of the Reporting Person on each vesting date.
Key Figures
Performance stock units granted: 60,492 units
Underlying common shares: 60,492 shares
Units after grant: 77,159 units
+3 more
6 metrics
Performance stock units granted
60,492 units
PSUs earned and credited on August 2, 2026
Underlying common shares
60,492 shares
Each PSU represents a conditional right to one share
Units after grant
77,159 units
Total performance stock units held directly following transaction
Vesting tranche 1
50%
Vests on August 2, 2027, subject to continued service
Vesting tranche 2
50%
Vests on July 1, 2028, subject to continued service
Grant price per unit
$0.0000 per unit
Stated transaction price for the PSU award
Key Terms
Performance Stock Units, restricted stock units, conditional right to receive one share, vest and settle, +1 more
5 terms
Performance Stock Units financial
"Represents performance-based restricted stock units ("PSUs") that were earned"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
restricted stock units financial
"Represents performance-based restricted stock units ("PSUs") that were earned"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
vest and settle financial
"The PSUs vest and settle over two years; 50% vests on August 2, 2027"
Compensation Committee financial
"criteria as certified by the Compensation Committee of the Issuer's Board"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did First Tracks Biotherapeutics (TRAX) report for Benjamin Stone?
First Tracks Biotherapeutics reported that Chief Business Officer Benjamin Stone received 60,492 performance-based stock units on August 2, 2026. These units were earned based on certified performance criteria and each unit represents a right to receive one share of the company’s common stock upon vesting.
How many performance stock units did TRAX grant to Benjamin Stone in this Form 4?
Benjamin Stone was granted 60,492 performance stock units (PSUs) tied to First Tracks Biotherapeutics common stock. Each PSU represents a conditional right to receive one share, increasing his directly held PSU balance to 77,159 units after this award, as disclosed in the filing.
What is the vesting schedule of Benjamin Stone’s TRAX performance stock units?
The 60,492 PSUs granted to Benjamin Stone vest and settle over two years. 50% vests on August 2, 2027 and the remaining 50% vests on July 1, 2028, subject to his continued service with First Tracks Biotherapeutics on each vesting date.
Were Benjamin Stone’s TRAX performance stock units tied to specific performance criteria?
Yes. The filing states the PSUs were earned upon achievement of certain performance criteria, which were certified by the Compensation Committee on August 2, 2026. Only after that certification did the performance stock units become credited to Benjamin Stone.
How many performance stock units does Benjamin Stone hold in TRAX after this grant?
After the grant of 60,492 PSUs, Benjamin Stone holds a total of 77,159 performance stock units directly. All reported units relate to First Tracks Biotherapeutics common stock and remain subject to the specified vesting schedule and continued service conditions.
Did Benjamin Stone purchase or sell any TRAX common stock in this Form 4?
No purchases or sales of common stock are reported. The Form 4 discloses a grant of 60,492 performance stock units to Benjamin Stone at a stated price of $0.0000 per unit, with no open-market buying or selling activity described.