First Tracks (TRAX) CEO receives new stock options and RSU awards

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

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.

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	--
Grant/Award	Employee Stock Option (right to buy)	271,100	$0.00	--

Holdings After Transaction: Restricted Stock Unit — 100,200 shares (Direct, null); Employee Stock Option (right to buy) — 271,100 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 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""

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^*

Faga Daniel

(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
X	Officer (give title below)	Other (specify below)
	President, CEO

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		100,200		⁽²⁾	⁽²⁾	Common Stock	100,200	$0	100,200	D
Employee Stock Option (right to buy)	$17.81	05/12/2026		A		271,100		⁽³⁾	05/11/2036	Common Stock	271,100	$0	271,100⁽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 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.

	/s/ Ajim Tamboli, Attorney-in-Fact	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 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.

Did the First Tracks (TRAX) CEO buy or sell shares in this Form 4 filing?

No open-market buys or sells occurred. The Form 4 reports compensation-related grants: stock options and restricted stock units awarded to CEO Daniel Faga, classified as acquisitions under transaction code A, rather than discretionary market transactions.

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.