Tax withholding and cash PSU settlement for Bausch Health (BHC) CEO

Rhea-AI Filing Summary

Bausch Health Companies Inc. director and CEO Thomas Appio reported equity award-related transactions in common shares, no par value. On February 27, 2026 and March 2, 2026, the company withheld 83,093 and 83,705 shares, respectively, to satisfy tax withholding obligations upon vesting of restricted share units.

The filing also records an "other" transaction for 1,137,862 performance share unit awards that will be settled in cash rather than company stock, as approved by the board committee and previously disclosed. Following these transactions, Appio directly held 3,453,236 common shares on March 2, 2026.

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

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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^*

APPIO THOMAS

(Last) (First) (Middle)

400 SOMERSET CORPORATE BOULEVARD

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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	02/27/2026		F		83,093(1)	D	$5.93	3,536,941	D
Common Shares, No Par Value	03/02/2026		F		83,705(2)	D	$5.95	3,453,236	D
Common Shares, No Par Value	03/02/2026		J		1,137,862(3)	D	$5.95	2,315,374	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. This number represents common shares, no par value, of the Issuer withheld to satisfy the tax withholding obligations due upon vesting of Restricted Share Units.

2. This number represents common shares, no par value, of the Issuer withheld to satisfy the tax withholding obligations due upon vesting of Restricted Share Units.

3. Reflects the settlement in cash of 1,137,862 performance share unit awards originally granted to the Reporting Person under the Bausch Health Companies, Inc. 2014 Omnibus Incentive Plan on March 2, 2023, which, as previously reported on February 11, 2026, were earned, on February 9, 2026, upon certification by the Talent and Compensation Committee (the "Committee") of the Board of Directors of the Issuer of the level of achievement of the applicable performance metrics, but remained subject to service-based vesting. As disclosed in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 2, 2026, the Committee subsequently took action to provide for the payment of such earned performance share unit awards in cash rather than Issuer common stock upon vesting. The settlement in cash is exempt under Rule 16b-3(e).

	/s/ Brianna M. Dorsi attorney-in-fact	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did Bausch Health (BHC) CEO Thomas Appio report?

Thomas Appio reported tax-related equity award transactions, not open-market trades. Shares were withheld to cover taxes on vested restricted share units, and a large block of performance share units was designated to be settled in cash rather than in Bausch Health common shares.

How many Bausch Health (BHC) shares were withheld for CEO tax obligations?

Bausch Health withheld 83,093 common shares on February 27, 2026 and 83,705 common shares on March 2, 2026. These withholdings satisfied Thomas Appio’s tax liabilities triggered by the vesting of restricted share units granted under the company’s equity incentive arrangements.

Were any Bausch Health (BHC) shares sold on the open market in this Form 4?

The Form 4 does not show open-market sales. It reports share withholdings coded as "F" to pay tax liabilities upon vesting of restricted share units and an "other" transaction reflecting that certain performance share units will be settled in cash rather than stock.

What is the 1,137,862-share performance award mentioned for Bausch Health (BHC)?

The 1,137,862 figure refers to performance share unit awards originally granted to Thomas Appio in March 2023. After performance certification in February 2026, the board’s committee decided these earned units would be paid in cash upon vesting instead of issuing Bausch Health common shares.

How many Bausch Health (BHC) shares does CEO Thomas Appio hold after these transactions?

After the reported transactions through March 2, 2026, Thomas Appio directly owned 3,453,236 Bausch Health common shares. This figure reflects his direct holdings following the tax-withholding share reductions and the designation of certain performance share units for cash settlement.

What do transaction codes F and J mean in the Bausch Health (BHC) Form 4?

Code F in the filing indicates payment of exercise price or tax liability by delivering securities, here share withholding for taxes. Code J indicates another type of acquisition or disposition, used for the change where performance share units will be settled in cash instead of Bausch Health common stock.