First Tracks (TRAX) CEO receives new stock options and RSU awards
Rhea-AI Filing Summary
First Tracks Biotherapeutics, Inc. reported that President and CEO Daniel Faga received new equity awards as part of his compensation. He was granted options to purchase 271,100 shares of common stock at an exercise price of $17.81 per share, expiring on May 11, 2036.
These stock options vest 25% on May 12, 2027, then in equal monthly installments over 48 months, contingent on continued service. Faga also received 100,200 restricted stock units, each representing one share of common stock for no cash consideration, vesting 25% annually from May 12, 2027 until fully vested, also subject to continued service. A footnote states he holds additional options to purchase up to 1,035,941 shares that vest under their own terms.
Positive
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Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Faga Daniel
Role
President, CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit | 100,200 | $0.00 | $0.00 |
| Grant/Award | Employee Stock Option (right to buy) | 271,100 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Unit — 100,200 shares (Direct);
Employee Stock Option (right to buy) — 271,100 shares (Direct)
Footnotes (4)
- F1. Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- F2. 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.
- F3. 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.
- F4. In addition to the options to purchase a total of 271,100 shares of common stock as set forth in Table II, the Reporting Person also holds additional options to purchase up to an aggregate of 1,035,941 shares of common stock, which options vest according to their terms.
Key Figures
Option grant size: 271,100 shares
Option exercise price: $17.81 per share
Option expiration: May 11, 2036
+3 more
6 metrics
Option grant size
271,100 shares
Employee stock options granted to CEO on May 12, 2026
Option exercise price
$17.81 per share
Exercise price for 271,100 stock options
Option expiration
May 11, 2036
Expiration date of newly granted stock options
RSU grant size
100,200 units
Restricted stock units granted to CEO on May 12, 2026
RSU vesting start
May 12, 2027
First 25% of RSUs vest on this date
Additional options held
1,035,941 shares
Other options to purchase common stock held by CEO
Key Terms
Restricted Stock Unit, Employee Stock Option, vests as to 25% of the total, conversion or exercise price, +1 more
5 terms
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.
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.
vests as to 25% of the total financial
"The RSUs vests as to 25% of the total RSUs annually..."
conversion or exercise price financial
"conversion_or_exercise_price: "17.8100""
Grant, award, or other acquisition financial
"transaction_code_description: "Grant, award, or other acquisition""
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What equity awards did First Tracks (TRAX) CEO Daniel Faga receive?
Daniel Faga received stock options for 271,100 shares at an exercise price of $17.81 and 100,200 restricted stock units. Both awards are compensation grants and do not involve open-market purchases or sales of First Tracks Biotherapeutics common stock.
How do Daniel Faga’s new stock options at First Tracks (TRAX) vest?
The 271,100 stock options vest 25% on May 12, 2027, then 1/48 of the total shares each month until fully vested. Vesting is conditioned on Daniel Faga continuing to provide services to First Tracks on each vesting date.
What are the terms of the restricted stock units granted to the First Tracks (TRAX) CEO?
The 100,200 restricted stock units each represent a right to receive one share of common stock for no cash payment. They vest 25% annually starting on May 12, 2027, with vesting dependent on Daniel Faga’s continued service to First Tracks Biotherapeutics.
What additional equity holdings does First Tracks (TRAX) CEO Daniel Faga have?
A footnote states that, beyond the newly granted 271,100 options, Daniel Faga also holds other options to purchase up to an aggregate 1,035,941 shares of common stock. These additional options vest according to their own existing terms and schedules.