First Tracks Biotherapeutics (TRAXV) director reports spin-off RSUs and options
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
First Tracks Biotherapeutics director Ware J. Anthony reported equity awards and holdings following the company’s spin-off from AnaptysBio. He holds 9,630 shares of common stock received in the pro rata distribution tied to the Separation and Distribution Agreement dated April 20, 2026.
He also acquired multiple stock options and restricted stock units that were adjusted from prior AnaptysBio awards. These include RSUs for 4,000 and 6,030 shares of common stock, each RSU representing one share upon settlement at no cost, plus several fully vested and time‑vested stock options with exercise prices between $3.97 and $28.03 per share and expirations between 2027 and 2036. The RSUs are scheduled to vest in full at the company’s 2026 and 2027 annual shareholder meetings, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
14 transactions reported
Mixed
14 txns
Insider
Ware J. Anthony
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to buy) | 28,571 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 10,694 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 6,000 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 6,000 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 11,000 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 11,000 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 9,200 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 10,600 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 16,510 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 16,510 | $0.00 | -- |
| Grant/Award | Stock Option (right to buy) | 5,500 | $0.00 | -- |
| Grant/Award | Restricted Stock Unit | 6,030 | $0.00 | -- |
| Grant/Award | Restricted Stock Unit | 4,000 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 28,571 shares (Direct, null);
Restricted Stock Unit — 6,030 shares (Direct, null);
Common Stock — 9,630 shares (Direct, null)
Footnotes (1)
- Consists of shares of common stock received in connection with the spin-off of First Tracks Biotherapeutics, Inc. ("First Tracks") from AnaptysBio, Inc. ("AnaptysBio"). Effective as of a pro rata distribution by AnaptysBio to holders of its shares of common stock pursuant to the Separation and Distribution Agreement dated as of April 20, 2026, by and between AnaptysBio and First Tracks (the "Separation Agreement"), each outstanding option to acquire AnaptysBio shares of common stock was adjusted so that such option became an option to acquire First Tracks shares of common stock and an option to acquire AnaptysBio shares of common stock. As a result, the Reporting Person acquired options to acquire First Tracks shares of common stock in an amount determined in accordance with the Separation Agreement. The stock option is fully vested and exercisable. The stock option vests as to 1/12 of the total shares monthly commencing on February 6, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration. Effective as of a pro rata distribution by AnaptysBio to holders of its shares of common stock pursuant to the Separation Agreement, each outstanding RSU with respect to AnaptysBio shares of common stock was adjusted so that such RSU became an RSU with respect to First Tracks shares of common stock and an RSU with respect to AnaptysBio's shares of common stock. As a result, the Reporting Person acquired RSU s with respect to First Tracks shares of common stock in an amount determined in accordance with the Separation Agreement. The RSUs vests as to 100% of the total RSUs on the date of the Issuer's 2026 annual meeting of shareholders, subject to the Reporting Person's provision of service to the Issuer on each vesting date. 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.
Key Figures
Common stock holding: 9,630 shares
RSU grant 1: 4,000 RSUs
RSU grant 2: 6,030 RSUs
+3 more
6 metrics
Common stock holding
9,630 shares
Directly held after spin-off distribution
RSU grant 1
4,000 RSUs
Each RSU for 1 common share at settlement
RSU grant 2
6,030 RSUs
Each RSU for 1 common share at settlement
Option grant
5,500 options at $11.75
Exercise price $11.75/share, expires 2036-01-06
Option grant
16,510 options at $3.97
Exercise price $3.97/share, expires 2035-01-06
Largest option block
28,571 options at $5.74
Exercise price $5.74/share, expires 2027-08-21
Key Terms
Separation and Distribution Agreement, restricted stock unit, pro rata distribution, stock option, +1 more
5 terms
Separation and Distribution Agreement regulatory
"pursuant to the Separation and Distribution Agreement dated as of April 20, 2026, by and between AnaptysBio and First Tracks"
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.
pro rata distribution financial
"Effective as of a pro rata distribution by AnaptysBio to holders of its shares of common stock"
A pro rata distribution is when a company or organization shares out money, assets, or benefits evenly among all eligible people based on their size or share. For example, if a company makes a profit and distributes it to shareholders, each person gets a portion proportional to how many shares they own. It ensures everyone gets their fair part based on their ownership or stake.
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 as to 100% of the total RSUs financial
"The RSUs vests as to 100% of the total RSUs on the date of the Issuer's 2026 annual meeting"
FAQ
What insider activity did First Tracks Biotherapeutics (TRAXV) report in this Form 4?
The Form 4 shows director Ware J. Anthony received common shares, stock options, and RSUs in connection with First Tracks Biotherapeutics’ spin-off from AnaptysBio, reflecting compensation-related equity awards and adjusted grants rather than open-market buying or selling activity.
What restricted stock units did Ware J. Anthony receive from First Tracks Biotherapeutics (TRAXV)?
He received RSUs covering 4,000 and 6,030 First Tracks shares. Each RSU represents a right to receive one common share for no cash payment, with full vesting tied to the company’s 2026 and 2027 annual shareholder meetings, subject to continued service.
What stock options were reported for Ware J. Anthony at First Tracks Biotherapeutics?
The filing lists several stock option grants covering between 5,500 and 28,571 shares each, with exercise prices from $3.97 to $28.03 per share and expiration dates ranging from 2027 through 2036, reflecting adjusted options from AnaptysBio and ongoing director compensation.
Were the equity awards in this First Tracks Biotherapeutics Form 4 open-market purchases or sales?
No open-market purchases or sales are reported. The transactions are coded as grants or awards, reflecting adjusted options and RSUs received in connection with the spin-off and director compensation, rather than discretionary buying or selling of First Tracks Biotherapeutics shares.
How is the AnaptysBio spin-off reflected in Ware J. Anthony’s First Tracks Biotherapeutics holdings?
Footnotes explain that his AnaptysBio options and RSUs were adjusted so each became awards in both companies. As a result, he received First Tracks common shares, options, and RSUs in amounts determined under the April 20, 2026 Separation and Distribution Agreement.