Biohaven (BHVN) director Gregory Bailey receives 68,693 stock options grant

Rhea-AI Filing Summary

Biohaven Ltd. director Gregory Bailey reported receiving a grant of stock options as part of his compensation. The award covers 68,693 stock options, each allowing him to buy one common share at an exercise price of $9.61 per share.

The options vest in full on the earlier of April 28, 2027 or the date of Biohaven’s 2027 Annual Meeting of Shareholders, as long as he continues serving the company until that vesting date. After this grant, he holds 68,693 options directly, and this filing does not show any open-market buying or selling of shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bailey Gregory

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Options (Right to buy)	68,693	$0.00	--

Holdings After Transaction: Stock Options (Right to buy) — 68,693 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Options granted: 68,693 options Exercise price: $9.61 per share Underlying shares: 68,693 common shares +3 more

6 metrics

Options granted 68,693 options Stock options award to director Gregory Bailey

Exercise price $9.61 per share Stock option strike price

Underlying shares 68,693 common shares Shares issuable upon exercise of options

Post-transaction derivative holdings 68,693 options Total options held directly after grant

Option expiration April 28, 2036 Stock option expiration date

Vesting date trigger April 28, 2027 or 2027 AGM Earlier of calendar date or 2027 Annual Meeting

Key Terms

Stock Options (Right to buy), Common Shares, Annual Meeting of Shareholders, continuous service

4 terms

Stock Options (Right to buy) financial

"security_title: "Stock Options (Right to buy)""

Common Shares financial

"underlying_security_title: "Common Shares""

Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.

Annual Meeting of Shareholders financial

"the date of the 2027 Annual Meeting of Shareholders"

A yearly gathering where a company’s owners (shareholders) vote on key items like electing the board, approving executive pay, and ratifying auditors, and receive updates on performance and strategy. Think of it as an annual town hall for owners: it matters to investors because outcomes and disclosures can affect leadership, corporate direction, dividend and governance policies, and therefore the company’s risk and potential return.

continuous service financial

"subject to the Reporting Person's continuous service with the Issuer"

Form 4 Insider Transactions: What Each Field Means →

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^*

Bailey Gregory

(Last) (First) (Middle)

C/O BIOHAVEN LTD.

215 CHURCH STREET

(Street)

NEW HAVEN CONNECTICUT 06510

(City) (State) (Zip)

UNITED STATES

(Country)

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

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)
04/28/2026

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

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)	$9.61	04/28/2026		A		68,693		(1)	04/28/2036	Common Shares	68,693	$0	68,693	D

Explanation of Responses:

1. The shares subject to this stock option will vest in full on the earlier of (a) April 28, 2027 or (b) the date of the 2027 Annual Meeting of Shareholders, in each case subject to the Reporting Person's continuous service with the Issuer through such vesting date.

Remarks:

	/s/ George Clark, Attorney-in-Fact	04/30/2026
	** 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)

FAQ

What did Biohaven (BHVN) director Gregory Bailey report in this Form 4?

Gregory Bailey reported a grant of 68,693 stock options from Biohaven Ltd. These options give him the right to buy common shares at $9.61 each, reflecting a compensation-related award rather than an open-market stock purchase or sale.

What are the key terms of Gregory Bailey’s Biohaven (BHVN) stock option grant?

Bailey received 68,693 stock options with an exercise price of $9.61 per share. The options relate to Biohaven common shares and will vest in full on a future date, assuming he continues to provide service to the company.

When do Gregory Bailey’s Biohaven (BHVN) stock options vest?

The options vest in full on the earlier of April 28, 2027 or the date of Biohaven’s 2027 Annual Meeting of Shareholders. Vesting is conditioned on Bailey’s continuous service with Biohaven through the applicable vesting date specified in the grant.

Did Gregory Bailey buy or sell Biohaven (BHVN) shares in the market?

The filing shows a grant of stock options, coded as an acquisition award, not an open-market trade. There are no reported purchases or sales of Biohaven common shares; instead, Bailey received derivative securities as part of his director compensation.

How many Biohaven (BHVN) options does Gregory Bailey hold after this transaction?

Following this award, Bailey holds 68,693 stock options directly, as shown in the filing. Each option is exercisable for one Biohaven common share at $9.61 per share, subject to the vesting conditions tied to service and the 2027 meeting timeline.