A Form 4 filed on August 18, 2026, reports that Daniel Faga, President and CEO of First Tracks Biotherapeutics, Inc. (NASDAQ:TRAX), was awarded 193,575 performance stock units on August 15, 2026, following the achievement of certain performance criteria.

Key Highlights

  • Award size: 193,575 performance stock units (PSUs) were acquired by Daniel Faga on August 15, 2026.
  • Trigger: The PSUs were earned upon achievement of certain performance criteria as certified by the Compensation Committee of the issuer's Board of Directors on August 15, 2026.
  • Price: The PSUs were acquired at a price of $0.
  • Vesting schedule: 50% vests on August 15, 2027, and 50% vests on July 1, 2028, subject to the continuing service of the reporting person on each vesting date.
  • Post-transaction holdings: Faga beneficially owns 440,485 derivative securities (PSUs) following the reported transaction.
  • Underlying security: Each PSU represents a conditional right to receive one share of the issuer's common stock.

Daniel Faga's PSU Award at First Tracks Biotherapeutics

According to the filing, Daniel Faga, who serves as President, CEO, and Director of First Tracks Biotherapeutics, Inc. (NASDAQ:TRAX), received 193,575 performance-based restricted stock units on August 15, 2026. The filing states that these PSUs "were earned by the Reporting Person upon the achievement of certain performance criteria as certified by the Compensation Committee of the Issuer's Board of Directors on August 15, 2026."

The filing describes each PSU as "a conditional right to receive one share of the Issuer's Common Stock." The award was recorded as an acquisition (transaction code A) at a price of $0. The PSUs are classified as derivative securities in Table II of the Form 4 and are held directly by Faga.

Vesting occurs in two tranches over two years: 50% on August 15, 2027, and 50% on July 1, 2028. Both tranches are subject to the continuing service of the reporting person on each respective vesting date. Following this transaction, Faga's total beneficial ownership of derivative securities stands at 440,485 units, according to the filing. The Form 4 was signed by Ajim Tamboli as Attorney-in-Fact on August 18, 2026.

What Was Disclosed

The filing discloses the award of 193,575 PSUs to First Tracks Biotherapeutics' President and CEO, Daniel Faga, earned upon certified performance criteria, with vesting split equally across August 2027 and July 2028, resulting in total post-transaction derivative holdings of 440,485 units.