Daniel Faga, President and CEO of First Tracks Biotherapeutics, Inc., filed a Form 4 on November 3, 2026, disclosing the acquisition of 136,000 performance stock units granted on November 1, 2026.

Key Highlights

  • Reporting person: Daniel Faga, who serves as a Director and President and CEO of First Tracks Biotherapeutics, Inc. (NASDAQ:TRAX).
  • Transaction: Acquisition (code A) of 136,000 performance stock units (PSUs) on November 1, 2026, at a price of $0.
  • Beneficial ownership following transaction: 136,000 derivative securities (PSUs) held directly.
  • PSU structure: Each PSU represents a contingent right to receive one share of common stock upon the issuer's achievement of certain share price metrics, according to the filing.
  • Vesting schedule: Once a Performance Metric is met, 50% of achieved PSUs vest on the one-year anniversary of the applicable Certification Date, and the remaining 50% vest on the two-year anniversary.
  • Final vesting deadline: All achieved PSUs that have not previously vested will vest on December 15, 2030, subject to the reporting person's continued service to the issuer.

PSU Grant Details for First Tracks Biotherapeutics CEO Daniel Faga

According to the Form 4 filed with the SEC on November 3, 2026, Daniel Faga, in his capacity as Director and President and CEO of First Tracks Biotherapeutics, Inc. (NASDAQ:TRAX), acquired 136,000 performance stock units on November 1, 2026. The filing reports the transaction code as "A" (acquisition), with a price of $0 for the derivative securities.

The filing states that each PSU "represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration." Vesting of any PSUs is contingent on the issuer's achievement of certain share price metrics described in the filing as "Performance Metrics." Once a Performance Metric is satisfied for a given tranche, the filing describes the resulting "Achieved PSUs" as vesting 50% on the one-year anniversary of the Certification Date of that achievement, with the remaining 50% vesting on the two-year anniversary of the same Certification Date.

The filing further states that "all Achieved PSUs that have not previously vested pursuant to the vesting schedule will vest on December 15, 2030 (or, if a Share Price Target is achieved on December 15, 2030, vesting will occur on its Certification Date)," subject to Faga's continued service to the issuer on each applicable vesting date. Following this transaction, the filing reports Faga's total direct beneficial ownership of these PSUs at 136,000. The Form 4 was signed by Ajim Tamboli as Attorney-in-Fact on November 3, 2026.

What Was Disclosed

First Tracks Biotherapeutics CEO and Director Daniel Faga disclosed receipt of 136,000 PSUs on November 1, 2026, at no cost, with vesting tied to company share price performance metrics and a final vesting deadline of December 15, 2030, per the Form 4 filing.