Paul F. Lizzul, Chief Medical Officer of First Tracks Biotherapeutics, Inc. (NASDAQ:TRAX), filed a Form 4 on August 18, 2026, reporting the acquisition of 60,492 performance-based restricted stock units earned upon certification of performance criteria on August 15, 2026.

Key Highlights

  • Award size: Paul F. Lizzul acquired 60,492 performance stock units (PSUs) on August 15, 2026.
  • Performance certification: The PSUs were earned upon achievement of certain performance criteria as certified by the Compensation Committee of the Board of Directors on August 15, 2026.
  • Price: The derivative security was acquired at a price of $0.
  • Vesting schedule: 50% vests on August 15, 2027 and 50% vests on July 1, 2028, subject to continuing service.
  • Post-transaction holdings: Lizzul beneficially owns 137,651 PSUs following the reported transaction, held directly.
  • Underlying security: Each PSU represents a conditional right to receive one share of the issuer's common stock.

Performance Stock Unit Award Details for First Tracks Biotherapeutics CMO

According to the filing, Paul F. Lizzul, serving as Chief Medical Officer of First Tracks Biotherapeutics, Inc., received 60,492 performance-based restricted stock units on August 15, 2026. The transaction code reported is "A" (acquisition). The filing states the PSUs were earned following the achievement of certain performance criteria, which were certified by the Compensation Committee of the issuer's Board of Directors on that date.

The filing discloses that each PSU represents a conditional right to receive one share of the issuer's common stock. The acquisition price of the derivative security is listed as $0. The PSUs are subject to a two-year vesting schedule: 50% vests on August 15, 2027, and the remaining 50% vests on July 1, 2028. Both vesting dates are conditioned on the continuing service of the reporting person at the time of each vesting event.

Following this transaction, the filing reports that Lizzul beneficially owns 137,651 PSUs in total, held directly. The Form 4 was signed by Ajim Tamboli as Attorney-in-Fact and filed on August 18, 2026. No non-derivative securities transactions were reported in Table I of the filing.

What Was Disclosed

The filing discloses the acquisition of 60,492 PSUs by First Tracks Biotherapeutics' Chief Medical Officer, earned upon certified performance achievement, with a two-year vesting schedule and a resulting total of 137,651 PSUs beneficially owned directly.