First Tracks Biotherapeutics (TRAX) CFO receives new option and RSU awards

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

First Tracks Biotherapeutics Chief Financial Officer Ajim Tamboli received new equity awards as part of compensation. On May 12, 2026, he was granted options to purchase 13,600 shares of common stock at an exercise price of $17.81 per share, expiring on May 11, 2036.

The option vests 25% on May 12, 2027 and then in equal monthly installments over the following three years, contingent on continued service. He also received 5,000 restricted stock units, with 25% of the RSUs vesting annually starting on May 12, 2027, also subject to continued service.

In addition to this new grant of 13,600 options, he holds other options covering up to 123,700 shares of common stock that vest according to their existing terms. These awards are non-cash grants and do not represent open-market share purchases or sales.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Tamboli Ajim

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	5,000	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	13,600	$0.00	--

Holdings After Transaction: Restricted Stock Unit — 5,000 shares (Direct, null); Employee Stock Option (right to buy) — 13,600 shares (Direct, null)

Footnotes (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 25% of the total RSUs annually commencing on May 12, 2027 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The stock option vests as to 25% of the total shares on May 12, 2027, and thereafter vests as to 1/48 of the total shares monthly 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 13,600 shares of common stock as set forth in Table II, the Reporting Person also holds additional options to purchase up to an aggregate of 123,700 shares of common stock, which options vest according to their terms.

Key Figures

Option grant size: 13,600 shares Option exercise price: $17.81 per share Option expiration: May 11, 2036 +4 more

7 metrics

Option grant size 13,600 shares Employee stock options granted on May 12, 2026

Option exercise price $17.81 per share Strike price for 13,600-share option grant

Option expiration May 11, 2036 Expiration date of new stock option grant

RSU grant size 5,000 units Restricted Stock Units granted on May 12, 2026

Existing option holdings 123,700 shares Additional options to purchase common stock already held

Initial option vesting date May 12, 2027 25% of new options vest on this date

Initial RSU vesting date May 12, 2027 25% of RSUs vest annually starting on this date

Key Terms

Employee Stock Option, Restricted Stock Unit, exercise price, vests as to 25%, +1 more

5 terms

Employee Stock Option financial

"Employee Stock Option (right to buy)"

An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.

Restricted Stock Unit financial

"security_title": "Restricted Stock Unit""

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.

exercise price financial

"conversion_or_exercise_price": "17.8100""

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vests as to 25% financial

"The stock option vests as to 25% of the total shares on May 12, 2027"

contingent right financial

"represents a contingent right to receive 1 share of the Issuer's Common Stock"

Form 4 Insider Transactions: What Each Field Means →

05/14/2026 - 04:05 PM

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^*

Tamboli Ajim

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/12/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Unit	⁽¹⁾	05/12/2026		A		5,000		⁽²⁾	⁽²⁾	Common Stock	5,000	$0	5,000	D
Employee Stock Option (right to buy)	$17.81	05/12/2026		A		13,600		⁽³⁾	05/11/2036	Common Stock	13,600	$0	13,600⁽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 25% of the total RSUs annually commencing on May 12, 2027 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

3. The stock option vests as to 25% of the total shares on May 12, 2027, and thereafter vests as to 1/48 of the total shares monthly 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 13,600 shares of common stock as set forth in Table II, the Reporting Person also holds additional options to purchase up to an aggregate of 123,700 shares of common stock, which options vest according to their terms.

	/s/ Ajim Tamboli	05/14/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What equity awards did TRAX CFO Ajim Tamboli receive in this Form 4?

Ajim Tamboli received stock options for 13,600 shares at an exercise price of $17.81 and 5,000 restricted stock units. Both awards are compensation grants, not market trades, and vest over time based on his continued service with First Tracks Biotherapeutics.

How do Ajim Tamboli’s new stock options at First Tracks Biotherapeutics vest?

The 13,600 stock options vest 25% on May 12, 2027, then 1/48 of the total shares monthly until fully vested. Vesting depends on Tamboli continuing to provide service to First Tracks Biotherapeutics on each scheduled vesting date under the award terms.

What are the vesting terms of the 5,000 RSUs granted to TRAX’s CFO?

Each RSU represents a right to receive one share of common stock. The 5,000 RSUs vest 25% each year starting on May 12, 2027 until fully vested, contingent on Ajim Tamboli’s continued service with First Tracks Biotherapeutics on each vesting date.

Do Ajim Tamboli’s new TRAX equity awards involve any stock sales or purchases?

The Form 4 shows grant or award acquisitions only, with no open-market buys or sells. Options and RSUs were granted at $0.00 per unit as compensation, so there is no reported cash purchase or sale of First Tracks Biotherapeutics common stock in this filing.

What existing option holdings does TRAX CFO Ajim Tamboli have besides this new grant?

In addition to the new 13,600-share option award, Ajim Tamboli also holds options to purchase up to an aggregate of 123,700 shares of common stock. These earlier grants vest according to their own terms, as disclosed in the footnotes to the Form 4 filing.