Biohaven (BHVN) CFO awarded 175,000 stock options in Form 4 filing

Rhea-AI Filing Summary

Biohaven Ltd. Chief Financial Officer Matthew Buten reported an award of stock options on a Form 4. He acquired 175,000 stock options as a grant, bringing his directly owned derivative holdings in this award to 175,000 options. The options vest in four equal installments on February 27 of 2026, 2027, 2028 and 2029, as long as he continues serving the company on each vesting date. This is a compensation-related equity grant rather than an open-market stock purchase or sale.

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^*

Buten Matthew

(Last) (First) (Middle)

C/O BIOHAVEN LTD.

215 CHURCH STREET

(Street)

NEW HAVEN CT 06510

(City) (State) (Zip)

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

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

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

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
Stock Options (Right to buy)	$11.52	02/27/2026		A		175,000		(1)	02/27/2036	Common Shares	175,000	$0	175,000	D

Explanation of Responses:

1. The shares underlying this option vest in four equal installments on February 27, 2026, 2027, 2028 and 2029, subject to the Reporting Person's continuous service with the Issuer at each vesting date.

Remarks:

	/s/ George Clark, 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.
* 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

What insider transaction did Biohaven Ltd. (BHVN) report for Matthew Buten?

Biohaven Ltd. reported that Chief Financial Officer Matthew Buten received a grant of stock options. The Form 4 shows an acquisition of 175,000 derivative securities as a compensation-related award, rather than an open-market purchase or sale of common shares.

How many stock options did Biohaven CFO Matthew Buten acquire in this Form 4?

Matthew Buten acquired 175,000 stock options in this transaction. The Form 4 describes the security as “Stock Options (Right to buy)” and shows total derivative holdings from this grant at 175,000 options following the award, all held as direct ownership.

What is the vesting schedule for the 175,000 Biohaven stock options granted to Matthew Buten?

The 175,000 options vest in four equal installments. According to the footnote, they vest on February 27 of 2026, 2027, 2028 and 2029, and each vesting tranche requires Matthew Buten’s continuous service with Biohaven Ltd. through the applicable vesting date.

Does the Biohaven (BHVN) Form 4 show a stock purchase or sale by the CFO?

The Form 4 does not show an open-market stock purchase or sale. It reports an acquisition coded as a grant or award of stock options, with transaction code “A” and 175,000 derivative securities received as compensation rather than a buy or sell in the market.

How is Matthew Buten’s ownership characterized in this Biohaven Form 4 filing?

The ownership of the reported stock options is classified as direct. The filing lists the ownership code as “D” and the nature of ownership as direct, indicating the options are held personally by Matthew Buten rather than through an indirect entity such as a trust or partnership.