First Tracks insider gets 1,300 shares via RSUs

Director John A. Orwin settled 1,300 RSUs into common stock at no cost and now holds 17,995 TRAX shares directly.

Rhea-AI Filing Summary

First Tracks Biotherapeutics, Inc. (TRAX) director John A. Orwin reported the settlement of 1,300 Restricted Stock Units into 1,300 shares of Common Stock on September 15, 2026, for no cash consideration. After this derivative exercise/conversion, he directly holds 17,995 shares of Common Stock. The RSU award vests in three equal installments on September 15, 2024, 2025 and 2026, subject to continued service.

Insider Trade Summary

1,300 shares exercised/converted

Exercise 2 txns

Insider Orwin John A

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit F1, F2	1,300	$0.00	$0.00
Exercise	Common Stock F1	1,300	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock — 17,995 shares (Direct)

Footnotes (2)

1. F1. Each restricted stock award ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
2. F2. The RSUs shall vest as to 1/3 of the total shares on September 15, 2024, and thereafter vests as to 1/3 of the total RSUs on September 15, 2025; and as to 1/3 of the total RSUs on September 15, 2026, subject to the provision of services to the Company on each vesting date.

Key Figures

RSUs exercised/converted: 1,300 units Common shares acquired from RSUs: 1,300 shares Shares owned after transaction: 17,995 shares +2 more

5 metrics

RSUs exercised/converted 1,300 units Restricted Stock Units settled into Common Stock on September 15, 2026

Common shares acquired from RSUs 1,300 shares Shares of Common Stock received upon RSU settlement on September 15, 2026

Shares owned after transaction 17,995 shares Directly held TRAX Common Stock following the September 15, 2026 transactions

RSU vesting schedule 1/3 each year Vests one-third on September 15, 2024, 2025 and 2026, subject to service

RSU-to-share ratio 1 RSU : 1 share Each RSU converts into one share of TRAX Common Stock for no consideration

Key Terms

Restricted Stock Unit, contingent right, vest

3 terms

Restricted Stock Unit financial

"Each restricted stock award ("RSU") represents a contingent right to receive 1 share"

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.

contingent right financial

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

vest financial

"The RSUs shall vest as to 1/3 of the total shares on September 15, 2024"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

FAQ

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

What insider transaction did John A. Orwin report in TRAX on this Form 4?

He reported the exercise/conversion of 1,300 Restricted Stock Units into 1,300 shares of Common Stock on September 15, 2026, at no cash cost, reflecting settlement of an RSU award rather than an open-market trade.

How many First Tracks Biotherapeutics (TRAX) shares does John A. Orwin own after this filing?

Following the September 15, 2026 RSU settlement, John A. Orwin directly owns 17,995 shares of TRAX Common Stock, as reported in the Form 4’s post-transaction holdings field.

Did John A. Orwin sell any TRAX shares in this Form 4 transaction?

No. The Form 4 shows a derivative exercise/conversion of 1,300 RSUs into 1,300 TRAX Common shares and no reported sales; the net effect is a change in form of ownership and an increase in directly held common shares.

Were John A. Orwin’s TRAX transactions made under a Rule 10b5-1 trading plan?

No. The Form 4 indicates the Rule 10b5-1 checkbox is not affirmed, and there is no footnote stating these transactions were made pursuant to a Rule 10b5-1 or similar pre-arranged trading plan.

What are the vesting terms of John A. Orwin’s TRAX Restricted Stock Units?

The RSU award vests as to one-third of the total shares on September 15, 2024, one-third on September 15, 2025, and one-third on September 15, 2026, subject to his continued provision of services to the company on each vesting date.

What consideration is required to settle John A. Orwin’s TRAX RSUs into shares?

Each Restricted Stock Unit represents a contingent right to receive 1 share of TRAX Common Stock upon settlement for no consideration, meaning no cash payment is required when the RSUs convert into shares, according to the RSU footnote.

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

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Available on EDGAR 09/17/2026 - 04:06 PM Accepted by SEC EDGAR 09/17/2026 - 04:05 PM Learn about SEC filing dates

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^*

Orwin John A

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

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
Common Stock	09/15/2026		M		1,300	A	$0(1)	17,995	D

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
Restricted Stock Unit	(1)	09/15/2026		M			1,300	(2)	(2)	Common Stock	1,300	$0	0	D

Explanation of Responses:

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

2. The RSUs shall vest as to 1/3 of the total shares on September 15, 2024, and thereafter vests as to 1/3 of the total RSUs on September 15, 2025; and as to 1/3 of the total RSUs on September 15, 2026, subject to the provision of services to the Company on each vesting date.

	/s/ Ajim Tamboli, Attorney-in-Fact	09/17/2026
	** 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)