Director at Biohaven (BHVN) receives grant of 68,693 options

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Biohaven Ltd. director Robert J. Hugin received a grant of stock options, giving him the right to buy 68,693 common shares at an exercise price of $9.61 per share. These options vest in full on the earlier of April 28, 2027 or the 2027 Annual Meeting of Shareholders, subject to his continuous service. After this award, he holds 68,693 stock options directly, with an expiration date of April 28, 2036.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider HUGIN ROBERT J

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Options (Right to buy)	68,693	$0.00	--

Holdings After Transaction: Stock Options (Right to buy) — 68,693 shares (Direct, null)

Footnotes (1)

[object Object]

Key Figures

Stock options granted: 68,693 options Exercise price: $9.61 per share Underlying common shares: 68,693 shares +3 more

6 metrics

Stock options granted 68,693 options Grant to director Robert J. Hugin on April 28, 2026

Exercise price $9.61 per share Conversion or exercise price for the stock options

Underlying common shares 68,693 shares Common Shares underlying the granted stock options

Total options after grant 68,693 options Total derivative securities following the reported transaction

Option expiration date April 28, 2036 Expiration date of the stock options

Vesting trigger date Earlier of April 28, 2027 or 2027 annual meeting Vesting condition, subject to continuous service

Key Terms

Stock Options (Right to buy), exercise price, expiration date, Common Shares, +1 more

5 terms

Stock Options (Right to buy) financial

"security_title: "Stock Options (Right to buy)""

exercise price financial

"conversion_or_exercise_price: "9.6100""

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

expiration date financial

"expiration_date: "2036-04-28T00:00:00.000Z""

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

Common Shares financial

"underlying_security_title: "Common Shares""

Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.

vesting financial

"will vest in full on the earlier of (a) April 28, 2027"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Form 4 Insider Transactions: What Each Field Means →

04/30/2026 - 08:07 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

HUGIN ROBERT J

(Last)

(First)

(Middle)

C/O BIOHAVEN LTD.

215 CHURCH STREET

(Street)

NEW HAVEN

CONNECTICUT

06510

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Biohaven Ltd. [ BHVN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (Right to buy)	$9.61	04/28/2026		A		68,693		⁽¹⁾	04/28/2036	Common Shares	68,693	$0	68,693	D

Explanation of Responses:

1. The shares subject to this stock option will vest in full on the earlier of (a) April 28, 2027 or (b) the date of the 2027 Annual Meeting of Shareholders, in each case subject to the Reporting Person's continuous service with the Issuer through such vesting date.

Remarks:

	/s/ George Clark, Attorney-in-Fact	04/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Biohaven (BHVN) report for Robert J. Hugin?

Biohaven reported that director Robert J. Hugin received a grant of 68,693 stock options. Each option gives him the right to buy one common share at an exercise price of $9.61, reflecting equity-based compensation rather than an open-market purchase or sale.

What are the key terms of Robert J. Hugin’s Biohaven (BHVN) stock options?

The grant covers 68,693 stock options with an exercise price of $9.61 per share and an expiration date of April 28, 2036. The options are linked to Biohaven common shares on a one-for-one basis, aligning the director’s potential gains with future share performance.

When do Robert J. Hugin’s Biohaven (BHVN) stock options vest?

The stock options will vest in full on the earlier of April 28, 2027 or the date of Biohaven’s 2027 Annual Meeting of Shareholders. Vesting is conditioned on Hugin’s continuous service with Biohaven through the applicable vesting date, according to the disclosed footnote.

How many Biohaven (BHVN) derivative securities does Robert J. Hugin hold after this grant?

Following the reported grant, Robert J. Hugin holds 68,693 stock options directly. Each option is a right to buy one Biohaven common share at $9.61 before expiration on April 28, 2036, indicating his entire reported derivative position in this filing.

Does the Biohaven (BHVN) Form 4 show a market sale or purchase by Robert J. Hugin?

The Form 4 shows a grant of 68,693 stock options classified as an acquisition under code A. This represents an award of derivative securities as compensation, not an open-market buy or sell of existing Biohaven common shares by the director.