[Form 4] Bausch Health Companies Inc Insider Trading Activity

Rhea-AI Filing Summary

Bausch Health Companies Inc. (BHC) – Insider Transaction Report (Form 4)

The filing discloses that Steven Hyosig Lee, the company’s Senior Vice President, Controller & Chief Accounting Officer, received 27,371 restricted share units (RSUs) on 14 July 2025. These RSUs were granted at no cost and will vest in three equal annual tranches on each anniversary of the grant date, contingent on Mr. Lee’s continued employment. Upon vesting, each RSU converts to one common share of BHC. Following this award, Mr. Lee now directly owns 27,371 common shares (all unvested RSUs). No derivative transactions, sales, or additional acquisitions were reported.

The grant represents routine equity compensation intended to align the executive’s interests with shareholders. Given Bausch Health’s large share count, the award is not expected to have a material dilutive impact on existing shareholders.

Insights

Financial Analyst

TL;DR: Routine RSU grant to BHC SVP; minimal dilution, neutral signal.

The award of 27,371 RSUs to SVP/CAO Steven H. Lee is standard executive compensation. At BHC’s current share count (~360 million), the grant equals roughly 0.008%, an immaterial level of dilution. No purchase or sale of existing shares occurred, so the transaction does not signal insider sentiment beyond long-term alignment incentives. Investors typically regard such grants as neutral unless accompanied by significant buying or selling activity, which is absent here.

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).

1. Name and Address of Reporting Person^*

LEE STEVEN HYOSIG

(Last) (First) (Middle)

400 SOMERSET CORPORATE BLVD.

(Street)

BRIDGEWATER NJ 08807

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Controller & CAO

3. Date of Earliest Transaction (Month/Day/Year)
07/14/2025

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price
Common Shares, No Par Value	07/14/2025		A		27,371(1)	A	$0	27,371	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents the award of restricted share units ("RSU s") which will vest one-third on each of the first three anniversaries following the date of grant, subject to the reporting person's continued service. Vested RSUs are settled in common shares, no par value, of Bausch Health Companies Inc.

	/s/ Brianna M. Cetrulo, attorney-in-fact	07/15/2025
	** 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.

FAQ

How many Bausch Health (BHC) shares did the insider receive?

27,371 restricted share units were granted to SVP Steven H. Lee.

What is the transaction date listed on the Form 4 for BHC?

The RSU grant was dated July 14, 2025.

When will the granted RSUs vest for the BHC executive?

They vest in three equal annual installments on each anniversary of the grant date, subject to continued employment.

Did the insider purchase or sell any existing BHC shares?

No. The filing only reports an equity award; there were no open-market purchases or sales.

What is the insider’s total direct ownership after the transaction?

Mr. Lee directly holds 27,371 shares, all currently in the form of unvested RSUs.