Director Magda Marquet granted options and RSUs at First Tracks (TRAX)
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
First Tracks Biotherapeutics director Magda Marquet received new equity awards as part of her compensation. She was granted options to buy 42,000 shares of common stock at an exercise price of $17.81 per share, expiring on May 11, 2036. These options vest monthly, with 1/12 of the total vesting each month starting on June 12, 2026, as long as she continues serving the company.
She also received 15,000 restricted stock units, each representing the right to receive one share of common stock for no cash payment. All of these RSUs vest on the date of First Tracks’ 2027 annual meeting of shareholders, subject to her continued service. In addition to this new option grant, she already holds options to purchase up to 70,104 shares of common stock that vest according to their existing terms.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Marquet Magda
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)
- 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 70,104 shares of common stock, which options vest according to their terms.
Key Figures
Option grant size: 42,000 shares
Option exercise price: $17.81/share
Option expiration: May 11, 2036
+3 more
6 metrics
Option grant size
42,000 shares
New stock options awarded to director Magda Marquet
Option exercise price
$17.81/share
Exercise price for 42,000-share option grant
Option expiration
May 11, 2036
Expiration date of new stock options
RSU grant size
15,000 units
Restricted stock units convertible into common shares
RSU vesting event
2027 annual meeting
All RSUs vest on 2027 shareholder meeting date
Existing options held
70,104 shares
Additional options held before this grant
Key Terms
Restricted Stock Unit, stock option, vests, annual meeting of shareholders
4 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.
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"
FAQ
What equity awards did Magda Marquet receive from TRAX in this Form 4?
Magda Marquet received stock options for 42,000 shares and 15,000 restricted stock units. The options carry a fixed exercise price, while the RSUs convert into common shares for no cash payment when they vest, subject to her continued service with First Tracks Biotherapeutics.
What is the exercise price and expiration date of Magda Marquet’s new TRAX stock options?
The new stock options have an exercise price of $17.81 per share and expire on May 11, 2036. This means she can buy shares at that price until the expiration date, once the options have vested according to the disclosed monthly vesting schedule.
How and when do Magda Marquet’s new TRAX stock options vest?
The options vest in 12 equal monthly installments starting on June 12, 2026. Each month, 1/12 of the 42,000 shares becomes exercisable, provided Magda Marquet continues to provide services to First Tracks Biotherapeutics on each monthly vesting date.
When do Magda Marquet’s TRAX restricted stock units vest and what do they provide?
All 15,000 restricted stock units vest on the date of the company’s 2027 annual meeting of shareholders. Each vested RSU converts into one share of First Tracks common stock for no consideration, assuming she remains in service through that meeting date.
Does Magda Marquet hold other TRAX stock options besides this new grant?
Yes. In addition to the 42,000-share option grant reported here, she already holds options to purchase up to 70,104 shares of First Tracks common stock. Those existing options vest according to their own terms, separate from the new awards disclosed in this Form 4.