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  4. [Form 4] First Tracks Biotherapeutics, Inc. Insider Trading Activity

First Tracks (TRAX) awards director 42,000 options and 15,000 RSUs

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

Rhea-AI Filing Summary

First Tracks Biotherapeutics director Dennis M. Fenton received new equity awards as part of his compensation. He 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 in equal monthly installments over 12 months beginning June 12, 2026, so he earns them gradually by continuing to serve the company.

He was also granted 15,000 restricted stock units, each representing one share of common stock for no cash payment. These RSUs vest in full on the date of the company’s 2027 annual shareholder meeting, if he is still providing service. In addition to the 42,000 new options, he holds other options to purchase up to 97,827 shares that vest under their existing terms.

Positive

  • None.

Negative

  • None.
Insider FENTON DENNIS M
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 97,827 shares of common stock, which options vest according to their terms.
Stock options granted 42,000 shares Grant to Dennis Fenton on May 12, 2026
Option exercise price $17.81 per share Exercise price for 42,000 options
Option expiration May 11, 2036 Expiration date of granted options
RSUs granted 15,000 units Restricted stock units granted May 12, 2026
RSU vesting 2027 annual meeting RSUs vest 100% on 2027 shareholder meeting date
Additional option holdings 97,827 shares Other options held by Dennis Fenton
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.
contingent right financial
"represents a contingent right to receive 1 share of the Issuer's Common Stock..."
vests financial
"The RSUs vests as to 100% of the total RSUs on the date of the Issuer's 2027 annual meeting..."
exercise price financial
"The stock option vests as to 1/12 of the total shares monthly... with a conversion or exercise price of 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.
expiration date financial
"Stock option ... with an expiration date of 2036-05-11..."
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
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*
FENTON DENNIS M
(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 97,827 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 insider transaction did TRAX director Dennis Fenton report on this Form 4?

Dennis Fenton reported receiving equity compensation awards, not buying or selling in the market. He was granted 42,000 stock options and 15,000 restricted stock units, both tied to future vesting based on continued service with First Tracks Biotherapeutics.

How many stock options did TRAX grant to Dennis Fenton and at what exercise price?

Dennis Fenton received options to buy 42,000 shares of First Tracks Biotherapeutics common stock. The options have an exercise price of $17.81 per share, meaning he can purchase shares at that price once the options vest and before they expire.

What are the vesting terms for Dennis Fenton’s new TRAX stock options?

The 42,000 stock options vest monthly over one year. Specifically, one-twelfth of the options vest each month starting June 12, 2026, until fully vested, provided Dennis Fenton continues to serve First Tracks Biotherapeutics throughout the vesting period.

What restricted stock units (RSUs) did Dennis Fenton receive from TRAX?

Dennis Fenton received 15,000 restricted stock units from First Tracks Biotherapeutics. Each RSU represents a contingent right to receive one share of common stock for no cash consideration when vested and settled, effectively providing share-based compensation instead of an immediate cash payment.

When do Dennis Fenton’s TRAX RSUs vest according to the filing?

The 15,000 RSUs vest in full on the date of First Tracks Biotherapeutics’ 2027 annual meeting of shareholders. Vesting is conditioned on Dennis Fenton’s continued service with the company through that meeting, aligning his equity award with long-term board service.

What additional option holdings does Dennis Fenton have in TRAX beyond this grant?

In addition to the newly granted 42,000 options, Dennis Fenton holds other options to purchase up to 97,827 shares of First Tracks Biotherapeutics common stock. Those options vest according to their existing terms, which are separate from the new one-year monthly vesting schedule.