First Tracks grants 60,492 PSUs to its CMO

Lizzul Paul F. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Lizzul Paul F. reported acquisition or exercise transactions in this Form 4 filing.

First Tracks Biotherapeutics, Inc. granted its Chief Medical Officer, Paul F. Lizzul, 60,492 performance stock units (PSUs) on August 2, 2026, after achievement of performance criteria certified by the Compensation Committee. Each PSU represents a conditional right to one share of common stock. The PSUs vest and settle over two years, with 50% vesting on August 2, 2027 and 50% on July 1, 2028, subject to his continued service, bringing his total PSUs to 77,159.

Insider Trade Summary

Grant/Award: 60,492 shares

Grant/Award 1 txn

Insider Lizzul Paul F.

Role Chief Medical 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 contracts (Direct)

Footnotes (3)

1. 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.
2. F2. Each PSU represents a conditional right to receive one share of the Issuer's Common Stock.
3. 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

PSUs granted to CMO: 60,492 Performance Stock Units Total PSUs after grant: 77,159 Performance Stock Units First vesting tranche: 50% of PSUs +1 more

4 metrics

PSUs granted to CMO 60,492 Performance Stock Units Grant to Chief Medical Officer Paul F. Lizzul on August 2, 2026

Total PSUs after grant 77,159 Performance Stock Units Total performance stock units held by Paul F. Lizzul following the reported grant

First vesting tranche 50% of PSUs Vests and settles on August 2, 2027, subject to continuing service

Second vesting tranche 50% of PSUs Vests and settles on July 1, 2028, subject to continuing service

Key Terms

Performance Stock Units, restricted stock units, conditional right, vest and settle

4 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.

conditional right financial

"Each PSU represents a conditional right to receive one share"

vest and settle financial

"The PSUs vest and settle over two years; 50% vests on August 2, 2027"

FAQ

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

What equity award did First Tracks Biotherapeutics (TRAX) grant to its Chief Medical Officer?

First Tracks Biotherapeutics granted Chief Medical Officer Paul F. Lizzul 60,492 performance stock units (PSUs) on August 2, 2026. These PSUs were earned after specified performance criteria were achieved and certified by the company’s Compensation Committee.

How do the new PSUs affect the CMO’s total holdings at First Tracks Biotherapeutics (TRAX)?

Following this grant, Paul F. Lizzul holds a total of 77,159 performance stock units. This total reflects the newly earned 60,492 PSUs added to his existing PSU holdings as reported in the insider transaction data.

What are the vesting terms of the 60,492 PSUs granted by First Tracks Biotherapeutics (TRAX)?

The 60,492 PSUs vest and settle over two years: 50% vest on August 2, 2027 and 50% vest on July 1, 2028. Vesting on each date is conditioned on Paul F. Lizzul’s continuing service with the company.

What does each performance stock unit represent for First Tracks Biotherapeutics (TRAX)?

Each PSU granted to Paul F. Lizzul represents a conditional right to receive one share of First Tracks Biotherapeutics’ common stock. Delivery of the shares depends on meeting vesting conditions tied to continued service.

Were the PSUs at First Tracks Biotherapeutics (TRAX) granted under a Rule 10b5-1 trading plan?

The transaction is reported as a grant or award of performance stock units, and the Rule 10b5-1 checkbox is not marked as an affirming trading plan. The award is described as earned based on performance criteria certified on August 2, 2026.

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

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Available on EDGAR 08/05/2026 - 06:26 PM Accepted by SEC EDGAR 08/05/2026 - 06:25 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^*

Lizzul Paul F.

(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 Medical Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/02/2026

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

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
Performance Stock Units(1)	(2)	08/02/2026		A		60,492		(3)	(3)	Common Stock	60,492	$0	77,159	D

Explanation of Responses:

1. 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.

2. Each PSU represents a conditional right to receive one share of the Issuer's Common Stock.

3. 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.

	/s/ Ajim Tamboli, Attorney-in-Fact	08/05/2026
	** 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)