How is the AnaptysBio spin-off related to Daniel Faga’s First Tracks Biotherapeutics (TRAXV) equity?

Footnotes explain Faga’s First Tracks shares, options, and RSUs were received or adjusted in connection with AnaptysBio’s pro rata distribution of First Tracks shares. Under a Separation and Distribution Agreement, AnaptysBio equity awards were converted into awards covering both companies.

First Tracks (TRAXV) CEO reports RSU and stock option grants

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

First Tracks Biotherapeutics, Inc. President and CEO Daniel Faga reported equity awards and holdings rather than open-market trades. He directly holds 496,684 shares of common stock and received multiple grants of restricted stock units, each RSU representing a right to one common share.

The filing also shows several employee stock options to acquire common stock at exercise prices ranging from $3.97 to $11.75 per share with expirations between 2031 and 2036. Footnotes explain these options and RSUs were adjusted and granted in connection with AnaptysBio’s spin-off of First Tracks under a Separation and Distribution Agreement.

Insider Trade Summary

12 transactions reported

Mixed 12 txns

Insider Faga Daniel

Role President, CEO

Type	Security	Shares	Price	Value
Grant/Award	Employee Stock Option (right to buy)	11,000	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	2,321	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	9,200	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	194,900	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	379,620	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	305,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	133,400	$0.00	--
Grant/Award	Restricted Stock Unit	17,850	$0.00	--
Grant/Award	Restricted Stock Unit	69,355	$0.00	--
Grant/Award	Restricted Stock Unit	80,512	$0.00	--
Grant/Award	Restricted Stock Unit	98,600	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Employee Stock Option (right to buy) — 11,000 shares (Direct, null); Restricted Stock Unit — 17,850 shares (Direct, null); Common Stock — 496,684 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 25% of the total shares on January 6, 2024, 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. The stock option vests as to 25% of the total shares on January 3, 2025, 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. The stock option vests as to 25% of the total shares on January 7, 2026, 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. The stock option vests as to 25% of the total shares on January 6, 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. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. Effective as of a pro rata distribution by AnaptysBio to holders of its shares of common stock pursuant to the Separation Agreement, each outstanding restricted stock unit ("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 RSUs with respect to First Tracks shares of common stock in an amount determined in accordance with the Separation Agreement. The RSUs vests as to 25% of the total RSUs annually commencing on January 6, 2024 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The RSUs vests as to 25% of the total RSUs annually commencing on January 3, 2025 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The RSUs vests as to 25% of the total RSUs annually commencing on January 7, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The RSUs vests as to 25% of the total RSUs annually commencing on January 6, 2027 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

Key Figures

Common shares held: 496,684 shares RSU grant: 98,600 units Additional RSU grants: 80,512; 69,355; 17,850 units +4 more

7 metrics

Common shares held 496,684 shares Total common stock directly owned following transactions

RSU grant 98,600 units Restricted stock units representing rights to common stock

Additional RSU grants 80,512; 69,355; 17,850 units Separate blocks of restricted stock units awarded

Stock option position 379,620 shares at $5.67 Employee stock option to buy common stock, expiring 2034-01-02

Stock option position 305,500 shares at $3.97 Employee stock option to buy common stock, expiring 2035-01-06

Stock option position 194,900 shares at $6.22 Employee stock option to buy common stock, expiring 2033-01-05

Stock option position 133,400 shares at $11.75 Employee stock option to buy common stock, expiring 2036-01-06

Key Terms

Restricted Stock Unit, Employee Stock Option (right to buy, spin-off, Separation and Distribution Agreement, +1 more

5 terms

Restricted Stock Unit financial

"Each restricted stock unit ("RSU") represents a contingent right to receive one 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.

Employee Stock Option (right to buy financial

"Employee Stock Option (right to buy) with underlying security title Common Stock"

spin-off financial

"shares of common stock received in connection with the spin-off of First Tracks Biotherapeutics, Inc."

A spin-off happens when a company creates a new, independent business by separating part of itself, like splitting off a division into its own company. This often happens so the new company can focus better on its own goals or attract different investors. It matters because it can lead to more growth opportunities and clearer focus for both companies.

Separation and Distribution Agreement financial

"pursuant to the Separation and Distribution Agreement dated as of April 20, 2026"

pro rata distribution financial

"Effective as of a pro rata distribution by AnaptysBio to holders of its shares"

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.

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Form 4 Insider Transactions: What Each Field Means →

04/22/2026 - 04:05 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^*

Faga Daniel

(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)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President, CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/20/2026

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)
Common Stock								496,684⁽¹⁾	D

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)
Employee Stock Option (right to buy)	$8.33	04/20/2026		A⁽²⁾		11,000		⁽³⁾	11/25/2031	Common Stock	11,000	$0	11,000	D
Employee Stock Option (right to buy)	$8.33	04/20/2026		A⁽²⁾		2,321		⁽³⁾	11/25/2031	Common Stock	2,321	$0	2,321	D
Employee Stock Option (right to buy)	$8.14	04/20/2026		A⁽²⁾		9,200		⁽³⁾	02/09/2032	Common Stock	9,200	$0	9,200	D
Employee Stock Option (right to buy)	$6.22	04/20/2026		A⁽²⁾		194,900		⁽⁴⁾	01/05/2033	Common Stock	194,900	$0	194,900	D
Employee Stock Option (right to buy)	$5.67	04/20/2026		A⁽²⁾		379,620		⁽⁵⁾	01/02/2034	Common Stock	379,620	$0	379,620	D
Employee Stock Option (right to buy)	$3.97	04/20/2026		A⁽²⁾		305,500		⁽⁶⁾	01/06/2035	Common Stock	305,500	$0	305,500	D
Employee Stock Option (right to buy)	$11.75	04/20/2026		A⁽²⁾		133,400		⁽⁷⁾	01/06/2036	Common Stock	133,400	$0	133,400	D
Restricted Stock Unit	⁽⁸⁾	04/20/2026		A⁽⁹⁾		17,850		⁽¹⁰⁾	⁽¹⁰⁾	Common Stock	17,850	$0	17,850	D
Restricted Stock Unit	⁽⁸⁾	04/20/2026		A⁽⁹⁾		69,355		⁽¹¹⁾	⁽¹¹⁾	Common Stock	69,355	$0	69,355	D
Restricted Stock Unit	⁽⁸⁾	04/20/2026		A⁽⁹⁾		80,512		⁽¹²⁾	⁽¹²⁾	Common Stock	80,512	$0	80,512	D
Restricted Stock Unit	⁽⁸⁾	04/20/2026		A⁽⁹⁾		98,600		⁽¹³⁾	⁽¹³⁾	Common Stock	98,600	$0	98,600	D

Explanation of Responses:

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").

2. 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.

3. The stock option is fully vested and exercisable.

4. The stock option vests as to 25% of the total shares on January 6, 2024, 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.

5. The stock option vests as to 25% of the total shares on January 3, 2025, 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.

6. The stock option vests as to 25% of the total shares on January 7, 2026, 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.

7. The stock option vests as to 25% of the total shares on January 6, 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.

8. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.

9. Effective as of a pro rata distribution by AnaptysBio to holders of its shares of common stock pursuant to the Separation Agreement, each outstanding restricted stock unit ("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 RSUs with respect to First Tracks shares of common stock in an amount determined in accordance with the Separation Agreement.

10. The RSUs vests as to 25% of the total RSUs annually commencing on January 6, 2024 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

11. The RSUs vests as to 25% of the total RSUs annually commencing on January 3, 2025 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

12. The RSUs vests as to 25% of the total RSUs annually commencing on January 7, 2026 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

13. The RSUs vests as to 25% of the total RSUs annually commencing on January 6, 2027 until fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

	/s/ Ajim Tamboli, Attorney-in-Fact	04/22/2026
	** 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) CEO Daniel Faga report in this Form 4?

Daniel Faga reported his equity position in First Tracks Biotherapeutics, including common shares, restricted stock units, and employee stock options. The filing reflects compensation-related grants and spin-off adjustments, not open-market buying or selling of the company’s stock.

Did Daniel Faga buy or sell First Tracks Biotherapeutics (TRAXV) shares on the market?

The Form 4 does not show any open-market purchases or sales by Daniel Faga. It instead reports equity awards and holdings, including restricted stock units and employee stock options, which are compensation and spin-off related rather than discretionary market trades.

How many First Tracks Biotherapeutics (TRAXV) shares does Daniel Faga hold after these transactions?

After the reported transactions, Daniel Faga holds 496,684 shares of First Tracks Biotherapeutics common stock directly. This common stock position is separate from his restricted stock units and stock options, which represent additional contingent or derivative rights to receive shares.

What restricted stock unit (RSU) awards were reported for First Tracks Biotherapeutics (TRAXV) CEO Daniel Faga?

The filing lists several RSU awards for Daniel Faga, including blocks of 98,600, 80,512, 69,355, and 17,850 units. Each RSU represents a contingent right to receive one share of common stock, subject to time-based vesting conditions described in the footnotes.

What stock options for First Tracks Biotherapeutics (TRAXV) did Daniel Faga report holding?

Daniel Faga reported multiple employee stock options, including 379,620 shares at $5.67, 305,500 shares at $3.97, 194,900 shares at $6.22, and 133,400 shares at $11.75. These options expire between 2031 and 2036 and vest over time as detailed in the footnotes.