Director Schmid gains First Tracks (NASDAQ: TRAXV) RSUs and options
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Schmid John P. reported acquisition or exercise transactions in this Form 4 filing.
First Tracks Biotherapeutics director John P. Schmid reported equity awards and spin-off related holdings. He directly holds 31,622 shares of common stock received in connection with the spin-off from AnaptysBio. Schmid also holds restricted stock units and multiple stock option grants that provide additional exposure to First Tracks shares.
He was granted 4,000 RSUs vesting in full on the company’s 2026 annual shareholder meeting and 6,030 RSUs vesting in full at the 2027 meeting, each settling into one share of common stock per unit for no cash cost. Footnotes state that his stock options and RSUs were adjusted under a Separation and Distribution Agreement so that awards now cover both First Tracks and AnaptysBio. One option grant is fully vested, while another vests in 12 equal monthly installments beginning February 6, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
13 transactions reported
Mixed
13 txns
Insider
Schmid John P.
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to buy) | 15,000 | $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) — 15,000 shares (Direct, null);
Restricted Stock Unit — 6,030 shares (Direct, null);
Common Stock — 31,622 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
Direct common shares: 31,622 shares
2026 RSU grant: 4,000 RSUs
2027 RSU grant: 6,030 RSUs
+5 more
8 metrics
Direct common shares
31,622 shares
Common Stock held directly after reported transactions
2026 RSU grant
4,000 RSUs
Vests 100% on issuer’s 2026 annual shareholder meeting
2027 RSU grant
6,030 RSUs
Vests 100% on issuer’s 2027 annual shareholder meeting
Option strike price
$11.75 per share
Stock option for 5,500 shares expiring January 6, 2036
Option strike price
$3.97 per share
Stock option for 16,510 shares expiring January 6, 2035
Option strike price
$5.67 per share
Stock option for 16,510 shares expiring January 2, 2034
Option strike price
$6.22 per share
Stock option for 10,600 shares expiring January 5, 2033
Option strike price
$8.14 per share
Stock option for 9,200 shares expiring February 9, 2032
Key Terms
Restricted Stock Unit, Stock Option (right to buy), Separation and Distribution Agreement, pro rata distribution, +1 more
5 terms
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.
Stock Option (right to buy) financial
"The stock option is fully vested and exercisable."
Separation and Distribution Agreement regulatory
"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.
vests as to 1/12 financial
"The stock option vests as to 1/12 of the total shares monthly"
FAQ
What did John P. Schmid report in his Form 4 for First Tracks Biotherapeutics (TRAXV)?
He reported equity awards and holdings in First Tracks common stock. This includes common shares received in a spin-off from AnaptysBio, plus restricted stock units and stock options that give him additional rights to receive First Tracks shares under specified vesting schedules.
What restricted stock units did John P. Schmid receive from First Tracks Biotherapeutics (TRAXV)?
He holds 4,000 RSUs and 6,030 RSUs, each representing a right to receive one share for no cash payment. The 2026 RSUs vest 100% on the issuer’s 2026 annual meeting date, and the 2027 RSUs vest 100% on the 2027 annual meeting date, subject to continued service.
What stock options were reported by John P. Schmid in First Tracks Biotherapeutics?
He reported multiple stock option grants with different exercise prices and expirations, all for First Tracks common stock. One option is fully vested and exercisable, while another vests in 12 equal monthly installments starting February 6, 2026, contingent on his continued service to the company.
How is the AnaptysBio spin-off connected to John P. Schmid’s First Tracks equity awards?
Footnotes state AnaptysBio made a pro rata distribution of First Tracks shares under a Separation and Distribution Agreement. Each outstanding AnaptysBio option and RSU was adjusted so holders received corresponding First Tracks options and RSUs, giving Schmid additional awards tied to First Tracks common stock.
Do John P. Schmid’s RSUs in First Tracks Biotherapeutics require cash payment to receive shares?
No, each restricted stock unit represents a contingent right to receive one share of First Tracks common stock for no consideration. The units convert into shares only upon vesting and settlement, and vesting depends on Schmid continuing to provide service through the specified vesting dates.