Bausch Health director granted 45,871 RSUs

KAVANAGH SARAH B reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

KAVANAGH SARAH B reported acquisition or exercise transactions in this Form 4 filing.

Bausch Health Companies Inc. director Sarah B. Kavanagh received an equity grant tied to her board service. She was awarded 45,871 common shares in the form of restricted share units (RSUs) with a grant date value of $250,000, at no cash cost to her.

The RSUs vest on the date immediately preceding the company’s next Annual Meeting of Shareholders and will be settled in common shares. Following this award, Kavanagh directly holds 282,230 common shares, reflecting routine, compensation-related stock-based pay for a non-employee director rather than an open-market purchase or sale.

Insider Trade Summary

Grant/Award: 45,871 shares

Grant/Award 1 txn

Insider KAVANAGH SARAH B

Role Director

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

Holdings After Transaction: Common Shares, No Par Value — 282,230 shares (Direct)

Footnotes (1)

1. 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.

Key Figures

RSUs granted: 45,871 shares Grant date value: $250,000 Post-grant holdings: 282,230 shares +2 more

5 metrics

RSUs granted 45,871 shares Restricted share units awarded to non-employee director

Grant date value $250,000 Value of RSU award to director

Post-grant holdings 282,230 shares Common shares held directly after the transaction

Transaction code A (Grant, award, or other acquisition) Indicates compensation-related share acquisition

Transaction price per share $0.00 per share RSU grant with no cash paid by director

Key Terms

restricted share units ("RSUs"), grant date value, vest, settled in common shares

4 terms

restricted share units ("RSUs") financial

"Represents the award of restricted share units ("RSUs") granted to non-employee directors"

grant date value financial

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

vest financial

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

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

settled in common shares financial

"and are settled in common shares, no par value, of the Issuer"

FAQ

What insider transaction did Bausch Health (BHC) report for Sarah B. Kavanagh?

Bausch Health reported that director Sarah B. Kavanagh received 45,871 restricted share units, representing common shares, as a board compensation grant. The RSUs carry a grant date value of $250,000 and were awarded at no cash cost to her.

Is the Bausch Health (BHC) Form 4 transaction a stock purchase or sale?

The Form 4 shows an equity grant, not a market trade. Sarah B. Kavanagh acquired 45,871 shares through a restricted share unit award coded as a grant, with a price of $0.00 per share, reflecting compensation rather than buying or selling in the market.

How many Bausch Health (BHC) shares does Sarah B. Kavanagh hold after this grant?

After the grant, Sarah B. Kavanagh directly holds 282,230 common shares of Bausch Health. This total includes the 45,871 shares underlying the newly awarded RSUs, which are scheduled to vest before the company’s next Annual Meeting of Shareholders.

What are the terms of the RSU award reported in Bausch Health’s (BHC) Form 4?

The RSU award to Sarah B. Kavanagh has a grant date value of $250,000 and vests on the date immediately preceding Bausch Health’s next Annual Meeting of Shareholders. Once vested, the RSUs are settled in common shares with no par value.

Who received the Bausch Health (BHC) RSU grant reported in this Form 4?

Non-employee director Sarah B. Kavanagh received the RSU grant. She serves on Bausch Health’s board, and the 45,871 restricted share units represent standard equity compensation granted to non-employee directors following their election at the Annual Meeting.

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Accepted by SEC EDGAR 05/26/2026 - 06:19 PM Learn about SEC filing dates

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^*

KAVANAGH SARAH B

(Last) (First) (Middle)

400 SOMERSET CORPORATE BOULEVARD

(Street)

BRIDGEWATER NEW JERSEY 08807

(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)
			Code	V	Amount	(A) or (D)	Price
Common Shares, No Par Value	05/22/2026		A		45,871(1)	A	$0	282,230	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 ("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.

	/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)