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

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

Rhea-AI Filing Summary

First Tracks Biotherapeutics director Ware J. Anthony received new equity awards. He was granted stock options for 42,000 shares of common stock at an exercise price of $17.81 per share and 15,000 restricted stock units, both as compensation awards rather than open‑market purchases.

The 42,000 stock options vest in equal monthly installments over 12 months starting on June 12, 2026, and expire on May 11, 2036, if not exercised. The 15,000 RSUs vest 100% on the date of the company’s 2027 annual meeting of shareholders, subject to continued service, and each RSU will settle into one share for no cash consideration.

In addition to these grants, he also holds options to purchase up to 131,585 additional shares of common stock under prior awards, which continue to vest according to their own terms.

Positive

  • None.

Negative

  • None.
Insider Ware J. Anthony
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 131,585 shares of common stock, which options vest according to their terms.
New stock options granted 42,000 shares Director grant on May 12, 2026
Option exercise price $17.81 per share Stock option grant to director
RSUs granted 15,000 units Director compensation award on May 12, 2026
Option expiration May 11, 2036 End of exercise period for 42,000 options
Additional options held 131,585 shares Existing options from prior grants
RSU vesting event 2027 annual meeting 100% of 15,000 RSUs vest at this meeting
Restricted Stock Unit financial
"Each restricted stock unit ("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.
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.
vests financial
"The RSUs vests as to 100% of the total RSUs on the date"
annual meeting of shareholders financial
"on the date of the Issuer's 2027 annual meeting of shareholders"
A yearly gathering where a company’s owners (shareholders) vote on key items like electing the board, approving executive pay, and ratifying auditors, and receive updates on performance and strategy. Think of it as an annual town hall for owners: it matters to investors because outcomes and disclosures can affect leadership, corporate direction, dividend and governance policies, and therefore the company’s risk and potential return.
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.
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*
Ware J. Anthony
(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 131,585 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 TRAX director Ware J. Anthony receive?

Ware J. Anthony received stock options for 42,000 shares and 15,000 restricted stock units. The options have a $17.81 exercise price, while each RSU converts into one common share at settlement without cash payment, reflecting compensation rather than open-market buying.

How do the new stock options for TRAX’s director vest?

The 42,000 stock options vest in 12 equal monthly installments beginning June 12, 2026. Vesting continues until the grant is fully vested, provided Anthony continues serving the company on each vesting date, aligning his incentives with ongoing board service and company performance.

When do Ware J. Anthony’s TRAX RSUs vest and settle?

The 15,000 RSUs vest 100% on the date of First Tracks Biotherapeutics’ 2027 annual meeting of shareholders. Upon vesting, each RSU entitles Anthony to receive one share of common stock for no cash consideration, contingent on his continued service through that date.

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

The new stock options have an exercise price of $17.81 per share and expire on May 11, 2036. Anthony can exercise vested options any time before expiration, subject to plan terms, to acquire common shares at that fixed strike price.

Does the TRAX director hold other stock options besides these new grants?

Yes. In addition to options for 42,000 shares reported here, Anthony holds options to purchase up to an aggregate 131,585 additional common shares. These earlier awards remain outstanding and will vest according to their existing vesting schedules and award terms.

Are the TRAX Form 4 transactions open-market purchases or compensation grants?

The transactions are compensation-related grants, not open-market purchases. Both the stock options and RSUs are coded as awards, carry a $0.00 transaction price, and vest over time, indicating they are part of Anthony’s director equity compensation package.