Paul F. Lizzul, Chief Medical Officer of First Tracks Biotherapeutics, Inc., filed a Form 4 on November 3, 2026, disclosing the acquisition of 42,500 performance stock units on November 1, 2026.

Key Highlights

  • Reporting person: Paul F. Lizzul, Chief Medical Officer of First Tracks Biotherapeutics, Inc. (NASDAQ:TRAX)
  • Transaction date: November 1, 2026 - acquisition (code A) of 42,500 performance stock units (PSUs)
  • Price paid: $0 per PSU, according to the filing
  • Resulting holdings: 42,500 derivative securities beneficially owned following the transaction, held directly
  • Vesting condition: PSUs vest only upon the issuer's achievement of specified share price metrics, with a final vesting deadline of December 15, 2030
  • Vesting schedule: Once a performance metric is certified, 50% of the achieved PSUs vest on the one-year anniversary of certification and the remaining 50% vest on the two-year anniversary

PSU Grant Details for Lizzul at First Tracks Biotherapeutics

According to the Form 4 filed with the SEC, Paul F. Lizzul, serving as Chief Medical Officer of First Tracks Biotherapeutics, Inc. (NASDAQ:TRAX), acquired 42,500 performance stock units on November 1, 2026. The filing identifies these as derivative securities under Table II. Each PSU, the filing states, "represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration."

The filing discloses that vesting is contingent on the company's achievement of certain share price metrics described as "Performance Metrics." Once a given Performance Metric is met, the filing explains that "50% of the Achieved PSUs for each satisfied tranche shall vest on the one-year anniversary of the Certification Date of the achievement of the applicable Performance Metric, and the remaining 50% of the Achieved PSUs shall vest on the two-year anniversary of the applicable Certification Date." The filing further states that any achieved PSUs not previously vested will vest on December 15, 2030, subject to Lizzul's continued service to the issuer on each vesting date.

The transaction was filed on November 3, 2026, and was signed by Ajim Tamboli as Attorney-in-Fact. Following the reported transaction, Lizzul's direct beneficial ownership of these derivative securities stands at 42,500 PSUs, with the underlying security being common stock of First Tracks Biotherapeutics, Inc.

What Was Disclosed

The filing reports a grant of 42,500 performance stock units to Chief Medical Officer Paul F. Lizzul on November 1, 2026, at no cost, with vesting tied to share price performance metrics and a final vesting date of December 15, 2030.