Benjamin Stone, Chief Business Officer of First Tracks Biotherapeutics, Inc. (NASDAQ:TRAX), filed a Form 4 on August 18, 2026, disclosing the award of 60,492 performance stock units earned upon certification of achieved performance criteria on August 15, 2026.

Key Highlights

  • Award date: August 15, 2026, the date the Compensation Committee certified achievement of performance criteria.
  • PSUs granted: 60,492 performance-based restricted stock units acquired at a price of $0.
  • Underlying security: Each PSU represents a conditional right to receive one share of the issuer's Common Stock.
  • Vesting schedule: 50% vests on August 15, 2027 and 50% vests on July 1, 2028, subject to continuing service.
  • Post-transaction holdings: Stone beneficially owns 137,651 derivative securities (PSUs) following the transaction, held directly.

PSU Award Details for First Tracks Biotherapeutics CBO Benjamin Stone

According to the Form 4 filed with the SEC, Benjamin Stone, serving as Chief Business Officer of First Tracks Biotherapeutics, Inc., received 60,492 performance stock units on August 15, 2026. The filing states 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 transaction code recorded is A (acquired), and the price of the derivative security is listed as $0.

The filing explains that each PSU "represents a conditional right to receive one share of the Issuer's Common Stock," meaning no shares are issued immediately upon the award. The PSUs are structured to vest over two years: 50% on August 15, 2027 and the remaining 50% on July 1, 2028, with both tranches subject to Stone's continuing service on each respective vesting date.

Following this transaction, Stone beneficially owns 137,651 PSUs in total, held in direct form, according to the filing. The Form 4 was signed by Ajim Tamboli as Attorney-in-Fact and dated August 18, 2026. No non-derivative securities transactions were reported in Table I of the filing.

What Was Disclosed

The filing discloses that Benjamin Stone, Chief Business Officer of NASDAQ:TRAX, was awarded 60,492 PSUs on August 15, 2026, following performance criteria certification, with vesting split equally across August 2027 and July 2028, bringing his total PSU holdings to 137,651.