First Tracks CEO reports RSU and option awards
First Tracks Biotherapeutics, Inc. President and CEO Daniel Faga reported equity awards and holdings rather than open-market trades.
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 1,302,258 shares
Grant/Award
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 | $0.00 |
| Grant/Award | Employee Stock Option (right to buy) | 2,321 | $0.00 | $0.00 |
| Grant/Award | Employee Stock Option (right to buy) | 9,200 | $0.00 | $0.00 |
| Grant/Award | Employee Stock Option (right to buy) | 194,900 | $0.00 | $0.00 |
| Grant/Award | Employee Stock Option (right to buy) | 379,620 | $0.00 | $0.00 |
| Grant/Award | Employee Stock Option (right to buy) | 305,500 | $0.00 | $0.00 |
| Grant/Award | Employee Stock Option (right to buy) | 133,400 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Unit | 17,850 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Unit | 69,355 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Unit | 80,512 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Unit | 98,600 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 1,035,941 contracts (Direct);
Restricted Stock Unit — 266,317 contracts (Direct);
Common Stock — 496,684 shares (Direct)
Footnotes (13)
- F1. Consists of shares of common stock received in connection with the spin-off of First Tracks Biotherapeutics, Inc. ("First Tracks") from AnaptysBio, Inc. ("AnaptysBio").
- F2. 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.
- F3. The stock option is fully vested and exercisable.
- F4. 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.
- F5. 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.
- F6. 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.
- F7. 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.
- F8. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock.
- F9. 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.
- F10. 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.
- F11. 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.
- F12. 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.
- F13. 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"
A separation and distribution agreement is the legal plan that sets out how a company splits into two parts and how ownership of the new business is handed to shareholders. Think of it like a divorce settlement and moving checklist combined — it allocates assets, debts, tax responsibilities and short‑term services so both businesses can operate on their own. Investors care because the terms determine who bears future risks, costs and potential value when the split completes.
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
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.
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
