First Tracks Biotherapeutics Chief Financial Officer Ajim Tamboli received new equity awards as part of compensation. On May 12, 2026, he was granted options to purchase 13,600 shares of common stock at an exercise price of $17.81 per share, expiring on May 11, 2036.
The option vests 25% on May 12, 2027 and then in equal monthly installments over the following three years, contingent on continued service. He also received 5,000 restricted stock units, with 25% of the RSUs vesting annually starting on May 12, 2027, also subject to continued service.
In addition to this new grant of 13,600 options, he holds other options covering up to 123,700 shares of common stock that vest according to their existing terms. These awards are non-cash grants and do not represent open-market share purchases or sales.
First Tracks Biotherapeutics Chief Medical Officer Paul F. Lizzul received new equity awards. He was granted employee stock options for 72,300 shares of common stock at an exercise price of $17.81 per share, expiring on May 11, 2036. These options vest 25% on May 12, 2027, then 1/48 of the total shares monthly until fully vested, contingent on continued service.
He also received 26,700 restricted stock units, each representing a right to receive one share of common stock for no cash payment. The RSUs vest 25% annually starting on May 12, 2027, subject to ongoing service. There were no open-market purchases or sales reported. A footnote states he also holds separate options to purchase up to 507,310 shares of common stock that vest under their own terms.
First Tracks Biotherapeutics, Inc. is registering 10,497,054 shares of common stock for resale by existing stockholders under a Form S-1 registration statement. The company will not receive any proceeds from these resale transactions.
First Tracks was spun off from AnaptysBio, Inc. on April 20, 2026 and now trades on Nasdaq under the symbol TRAX, with a May 7, 2026 closing price of $17.82 per share. In a March 2026 private placement tied to the spin-off, First Tracks sold 5,791,479 primary shares and investors purchased 4,705,575 secondary shares at $13.81 per share, generating approximately $80 million in gross proceeds for the company.
First Tracks is a clinical-stage biotechnology company developing immunology therapeutics for autoimmune and inflammatory diseases, led by antibodies rosnilimab, ANB033 and ANB101. The business reported a 2025 net loss of $166.1 million and had $238.2 million in cash and cash equivalents as of December 31, 2025, and expects its existing cash, cash equivalents and investments to fund its current operating plan beyond the next 12 months. The company qualifies as an emerging growth company and a smaller reporting company, allowing reduced disclosure and compliance obligations.