Bausch Health director granted $250K in RSUs

Paulson John reported acquisition or exercise transactions in this Form 4 filing.

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Form Type

Rhea-AI Filing Summary

Paulson John reported acquisition or exercise transactions in this Form 4 filing.

Bausch Health Companies Inc. director John Paulson reported an equity compensation grant rather than an open-market trade. He received an award of 45,871 restricted share units with a grant date value of $250,000, which vest on the date immediately preceding the company’s next annual meeting and will be settled in common shares.

Following this award, Paulson directly holds 417,565 common shares. Investment funds managed by Paulson Capital Inc. directly hold 73,255,869 common shares; Paulson may be deemed an indirect beneficial owner of those fund holdings but disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Grant/Award: 45,871 shares

Grant/Award 2 txns

Insider Paulson John

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Shares, No Par Value	45,871	$0.00	$0.00
holding	Common Shares, No Par Value	--	--	--

Holdings After Transaction: Common Shares, No Par Value — 417,565 shares (Direct); Common Shares, No Par Value — 73,255,869 shares (Indirect, By Managed Funds)

Footnotes (2)

F1. Represents the award of restricted share units ("RSUs") granted to non-employee directors of the Issuer on the third business day following their election at the Issuer's Annual Meeting of Shareholders. The RSUs have a grant date value of $250,000, vest on the date immediately preceding the Issuer's next Annual Meeting of Shareholders, and are settled in common shares, no par value, of the Issuer.
F2. John Paulson, the controlling person of Paulson Capital Inc. ("Paulson"), serves on the board of directors of the Issuer. Paulson is the investment manager of investment funds (the "Funds"). John Paulson may be deemed an indirect beneficial owner of the securities, which are directly owned by the Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the reporting person disclaims beneficial ownership of any securities reported herein, except to the extent that the reporting person has a pecuniary interest therein. This report shall not be deemed an admission that such reporting person is the beneficial owner of any securities not directly owned by such reporting person.

Key Figures

RSU shares granted: 45,871 shares Grant date value: $250,000 Grant price per share: $0.0000 per share +3 more

6 metrics

RSU shares granted 45,871 shares Restricted share units granted to non-employee director John Paulson

Grant date value $250,000 Value of RSU award to non-employee directors

Grant price per share $0.0000 per share Reported transaction price for RSU acquisition

Direct shares after grant 417,565 shares John Paulson’s direct Bausch Health holdings after RSU award

Indirect fund holdings 73,255,869 shares Shares directly owned by funds managed by Paulson Capital Inc.

RSU vesting trigger Before next annual meeting RSUs vest on date immediately preceding next annual shareholder meeting

Key Terms

restricted share units ("RSUs"), grant date value, beneficial owner, pecuniary interest, +1 more

5 terms

grant date value financial

"The RSUs have a grant date value of $250,000, vest on the date immediately preceding"

beneficial owner financial

"may be deemed an indirect beneficial owner of the securities, which are directly owned by the Funds"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

pecuniary interest financial

"disclaims beneficial ownership of any securities reported herein, except to the extent that the reporting person has a pecuniary interest therein"

investment manager financial

"Paulson is the investment manager of investment funds (the "Funds")"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did John Paulson report for BHC on this Form 4?

John Paulson reported an award of 45,871 restricted share units in Bausch Health Companies Inc. as compensation for serving as a non-employee director, not an open-market purchase or sale, with the units settling in common shares after vesting.

What is the value of John Paulson’s RSU grant in Bausch Health (BHC)?

The restricted share unit grant to John Paulson has a grant date value of $250,000. These RSUs were awarded to him as a non-employee director and will be settled in Bausch Health common shares once they vest before the next annual shareholder meeting.

When do John Paulson’s Bausch Health RSUs vest and how are they settled?

John Paulson’s restricted share units vest on the date immediately preceding Bausch Health’s next annual meeting of shareholders. Once vested, the RSUs are settled in common shares of Bausch Health Companies Inc., increasing his direct share ownership accordingly.

How many Bausch Health shares does John Paulson hold directly after this grant?

After the restricted share unit award, John Paulson directly holds 417,565 Bausch Health common shares. This figure reflects his direct ownership position reported on the Form 4 and does not include shares held by investment funds managed by Paulson Capital Inc.

What Bausch Health stake is held through funds managed by Paulson Capital Inc.?

Investment funds managed by Paulson Capital Inc. directly own 73,255,869 Bausch Health common shares. John Paulson, as the controlling person of Paulson Capital Inc., may be deemed an indirect beneficial owner but disclaims beneficial ownership beyond his pecuniary interest.

Is John Paulson’s Bausch Health Form 4 transaction a buy or a sale?

The reported Form 4 transaction is an acquisition via a restricted share unit grant, not a market buy or sale. It represents equity compensation for John Paulson’s role as a non-employee director of Bausch Health Companies Inc., awarded at no cash cost per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/26/2026 - 06:57 PM EDT

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^*

Paulson John

(Last)

(First)

(Middle)

180 LAKEVIEW AVENUE

(Street)

WEST PALM BEACH

FLORIDA

33401

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Bausch Health Companies Inc. [ BHC ]

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)
05/22/2026

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)
Common Shares, No Par Value	05/22/2026		A		45,871⁽¹⁾	A	$0	417,565	D
Common Shares, No Par Value								73,255,869	I⁽²⁾	By Managed Funds⁽²⁾

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)

Explanation of Responses:

1. Represents the award of restricted share units ("RSUs") granted to non-employee directors of the Issuer on the third business day following their election at the Issuer's Annual Meeting of Shareholders. The RSUs have a grant date value of $250,000, vest on the date immediately preceding the Issuer's next Annual Meeting of Shareholders, and are settled in common shares, no par value, of the Issuer.

2. John Paulson, the controlling person of Paulson Capital Inc. ("Paulson"), serves on the board of directors of the Issuer. Paulson is the investment manager of investment funds (the "Funds"). John Paulson may be deemed an indirect beneficial owner of the securities, which are directly owned by the Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the reporting person disclaims beneficial ownership of any securities reported herein, except to the extent that the reporting person has a pecuniary interest therein. This report shall not be deemed an admission that such reporting person is the beneficial owner of any securities not directly owned by such reporting person.

	/s/ Brianna M. Dorsi, attorney-in-fact	05/26/2026
	** 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