First Tracks (TRAXV) CFO receives major option and RSU awards

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

First Tracks Biotherapeutics Chief Financial Officer Ajim Tamboli reported equity compensation awards in the form of stock options and restricted stock units. He received employee stock options to buy 41,234, 41,233 and 41,233 shares of common stock at exercise prices of $19.00, $18.87 and $17.00 per share, each expiring in 2036. He also received 45,700 restricted stock units, each representing the right to receive one share for no cash payment. The options vest 25% on April 20, 2027 and then monthly, while the RSUs vest 25% on the same date and then in equal annual installments, in each case contingent on continued service.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Tamboli Ajim

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Employee Stock Option (right to buy)	41,234	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	41,233	$0.00	--
Grant/Award	Restricted Stock Unit	45,700	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	41,233	$0.00	--

Holdings After Transaction: Employee Stock Option (right to buy) — 41,234 shares (Direct, null); Restricted Stock Unit — 45,700 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. 1/4 of the RSUs shall vest on April 20, 2027 and 1/4th of the RSUs shall vest in equal annual installments 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 April 20, 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.

Key Figures

Option grant 1: 41,234 options at $19.00 Option grant 2: 41,233 options at $18.87 Option grant 3: 41,233 options at $17.00 +2 more

5 metrics

Option grant 1 41,234 options at $19.00 Employee stock option, expires April 22, 2036

Option grant 2 41,233 options at $18.87 Employee stock option, expires April 21, 2036

Option grant 3 41,233 options at $17.00 Employee stock option, expires April 20, 2036

RSU grant 45,700 RSUs Each RSU for 1 common share at settlement

Initial vesting date April 20, 2027 25% of RSUs and options vest on this date

Key Terms

Restricted Stock Unit, Employee Stock Option, contingent right, vest, +1 more

5 terms

Restricted Stock Unit financial

"The stock option vests as to 25% of the total shares on April 20, 2027, and thereafter vests as to 1/48 of the total shares monthly..."

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.

contingent right financial

"Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock..."

vest financial

"1/4 of the RSUs shall vest on April 20, 2027 and 1/4th of the RSUs shall vest in equal annual installments..."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

exercise price financial

"conversion_or_exercise_price": "19.0000""

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.

Form 4 Insider Transactions: What Each Field Means →

04/23/2026 - 06:08 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^*

Tamboli Ajim

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/21/2026

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⁾	04/21/2026		A		45,700		⁽²⁾	⁽²⁾	Common Stock	45,700	$0	45,700	D
Employee Stock Option (right to buy)	$17	04/21/2026		A		41,233		⁽³⁾	04/20/2036	Common Stock	41,233	$0	41,233	D
Employee Stock Option (right to buy)	$18.87	04/22/2026		A		41,233		⁽³⁾	04/21/2036	Common Stock	41,233	$0	41,233	D
Employee Stock Option (right to buy)	$19	04/23/2026		A		41,234		⁽³⁾	04/22/2036	Common Stock	41,234	$0	41,234	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. 1/4 of the RSUs shall vest on April 20, 2027 and 1/4th of the RSUs shall vest in equal annual installments 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 April 20, 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.

	/s/ Ajim Tamboli	04/23/2026
	** 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 did First Tracks Biotherapeutics (TRAXV) CFO report on this Form 4?

The CFO reported equity compensation awards. He received three blocks of employee stock options and a grant of 45,700 restricted stock units, all tied to First Tracks Biotherapeutics common stock and subject to future vesting conditions based on continued service.

How many stock options did the First Tracks (TRAXV) CFO receive?

He received three stock option grants covering 41,234, 41,233 and 41,233 shares. Each option is an employee stock option to buy First Tracks common stock at fixed exercise prices and has an expiration date in 2036, subject to vesting.

What are the exercise prices of the TRAXV CFO’s stock options?

The options have exercise prices of $19.00, $18.87 and $17.00 per share. These prices define the cost to purchase First Tracks Biotherapeutics common stock under each grant once the options are vested and exercisable, assuming other conditions are satisfied.

How many restricted stock units did the First Tracks (TRAXV) CFO receive?

He received 45,700 restricted stock units. Each RSU represents a contingent right to receive one share of First Tracks Biotherapeutics common stock upon settlement for no cash consideration, subject to vesting and continued service requirements described in the filing footnotes.

When do the TRAXV CFO’s RSUs and stock options start vesting?

Both the RSUs and stock options start vesting on April 20, 2027. One quarter of each award vests on that date, with the remaining RSUs vesting in equal annual installments and the options vesting monthly thereafter, conditioned on continued service.

Are the First Tracks (TRAXV) CFO awards tied to continued employment?

Yes. Vesting of both the RSUs and stock options requires continued service. The filing states that vesting on each date is subject to the reporting person’s provision of service to First Tracks Biotherapeutics, making these awards retention-focused compensation.