First Tracks Biotherapeutics (TRAXV) director granted RSUs and options
Rhea-AI Filing Summary
First Tracks Biotherapeutics director Dennis M. Fenton reported new equity awards tied to the spin-off from AnaptysBio and his board service. He now directly holds 4,965 shares of common stock received in the pro rata distribution from AnaptysBio.
On April 20, 2026, he acquired 4,000 and 6,030 Restricted Stock Units, each RSU representing one share of common stock upon settlement for no consideration. He also received multiple stock options to buy First Tracks common stock at exercise prices ranging from $3.97 to $31.82 per share with expirations between 2028 and 2036. Some options are fully vested, while others vest monthly starting February 6, 2026, and certain RSUs vest 100% on the company’s 2026 and 2027 annual meeting dates.
Positive
- None.
Negative
- None.
Insider Trade Summary
13 transactions reported
Mixed
13 txns
Insider
FENTON DENNIS M
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (right to buy) | 6,000 | $0.00 | $0.00 |
| Grant/Award | Stock Option (right to buy) | 5,507 | $0.00 | $0.00 |
| Grant/Award | Stock Option (right to buy) | 6,000 | $0.00 | $0.00 |
| Grant/Award | Stock Option (right to buy) | 11,000 | $0.00 | $0.00 |
| Grant/Award | Stock Option (right to buy) | 11,000 | $0.00 | $0.00 |
| Grant/Award | Stock Option (right to buy) | 9,200 | $0.00 | $0.00 |
| Grant/Award | Stock Option (right to buy) | 10,600 | $0.00 | $0.00 |
| Grant/Award | Stock Option (right to buy) | 16,510 | $0.00 | $0.00 |
| Grant/Award | Stock Option (right to buy) | 16,510 | $0.00 | $0.00 |
| Grant/Award | Stock Option (right to buy) | 5,500 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Unit | 6,030 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Unit | 4,000 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 97,827 shares (Direct);
Restricted Stock Unit — 10,030 shares (Direct);
Common Stock — 4,965 shares (Direct)
Footnotes (8)
- 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 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.
- F5. Each restricted stock unit ("RSU") represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- F6. 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.
- F7. 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.
- F8. 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 held: 4,965 shares
RSU grant 1: 4,000 RSUs
RSU grant 2: 6,030 RSUs
+4 more
7 metrics
Direct common shares held
4,965 shares
Common Stock held directly after transactions
RSU grant 1
4,000 RSUs
Each RSU equals 1 common share upon settlement
RSU grant 2
6,030 RSUs
Each RSU equals 1 common share upon settlement
Option grant at $11.75
5,500 options at $11.75/share
Stock Option, expires January 6, 2036
Option grant at $3.97
16,510 options at $3.97/share
Stock Option, expires January 6, 2035
Option grant at $5.67
16,510 options at $5.67/share
Stock Option, expires January 2, 2034
Option grant at $6.22
10,600 options at $6.22/share
Stock Option, expires January 5, 2033
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
"Stock Option (right to buy) with conversion or exercise prices between 3.9700 and 31.8200"
Separation and Distribution Agreement regulatory
"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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What equity awards did Dennis M. Fenton receive from First Tracks Biotherapeutics (TRAXV)?
Dennis M. Fenton received 4,000 and 6,030 Restricted Stock Units and several stock option grants to acquire First Tracks common stock. These awards stem from the AnaptysBio spin-off adjustments and his ongoing service as a director of First Tracks Biotherapeutics.
What are the key terms of Dennis M. Fenton’s stock options in First Tracks (TRAXV)?
Fenton holds several stock options to buy First Tracks common stock, including 5,500 options at $11.75 per share and 16,510 options at $3.97 per share. Expiration dates range from 2028 through 2036, with some options fully vested and others vesting monthly.
How and when do Dennis M. Fenton’s RSUs in First Tracks (TRAXV) vest?
Each RSU gives Fenton the right to receive one share of First Tracks common stock for no cash consideration. One RSU grant vests 100% on the company’s 2026 annual meeting date, and another vests 100% on the 2027 annual meeting date, subject to continued service.