Hyperliquid CFO granted 421,623 RSUs

Beldner Brett Douglas reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Beldner Brett Douglas reported acquisition or exercise transactions in this Form 4 filing.

Hyperliquid Strategies Inc CFO Brett Douglas Beldner reported an equity compensation grant of 421,623 restricted stock units (RSUs) of common stock at a price of $0.0000 per unit in connection with an employment agreement.

The filing states that 271,923 RSUs vest ratably on an annual basis over 3 years commencing on December 2, 2026, and 149,700 RSUs vest ratably on an annual basis over 3 years commencing on May 5, 2027. Following this grant, Beldner directly holds 453,463 shares/RSUs of the company’s common stock.

Insider Trade Summary

Grant/Award: 421,623 shares

Grant/Award 1 txn

Insider Beldner Brett Douglas

Role CFO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	421,623	$0.00	$0.00

Holdings After Transaction: Common Stock — 453,463 shares (Direct)

Footnotes (1)

1. F1. 1. Represents restricted stock units ("RSUs") the reporting person received on May 5, 2026 in connection with the entry of an employment agreement by and between the registrant and the reporting person, vesting as follows: (x) as to 271,923 RSUs, ratably on an annual basis over 3 years commencing on December 2, 2026, (y) as to 149,700 RSUs, ratably on an annual basis over 3 years commencing on May 5, 2027.

Key Figures

RSUs granted: 421,623 RSUs Post-grant holdings: 453,463 shares/RSUs First vesting tranche: 271,923 RSUs +2 more

5 metrics

RSUs granted 421,623 RSUs Equity award on May 5, 2026 to CFO

Post-grant holdings 453,463 shares/RSUs Total common stock/RSUs held directly after transaction

First vesting tranche 271,923 RSUs Vest ratably annually over 3 years from December 2, 2026

Second vesting tranche 149,700 RSUs Vest ratably annually over 3 years from May 5, 2027

Grant price $0.0000 per RSU Reported transaction price per unit for the RSU award

Key Terms

restricted stock units ("RSUs"), employment agreement, vests ratably on an annual basis, Form 4

4 terms

restricted stock units ("RSUs") financial

"Represents restricted stock units ("RSUs") the reporting person received on May 5, 2026"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

employment agreement financial

"received on May 5, 2026 in connection with the entry of an employment agreement"

vests ratably on an annual basis financial

"vesting as follows: (x) as to 271,923 RSUs, ratably on an annual basis over 3 years"

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Hyperliquid (PURR) disclose for CFO Brett Douglas Beldner?

Hyperliquid reported that CFO Brett Douglas Beldner received 421,623 RSUs of common stock. The RSUs were granted at a price of $0.0000 per unit in connection with an employment agreement, representing equity-based compensation rather than a market purchase of shares.

How many Hyperliquid (PURR) shares or RSUs does the CFO hold after this Form 4?

After the reported grant, CFO Brett Douglas Beldner holds 453,463 shares/RSUs of common stock directly. This total reflects the newly awarded 421,623 restricted stock units in addition to his prior holdings as shown in the Form 4 filing.

What is the vesting schedule for the 421,623 RSUs granted to Hyperliquid’s CFO?

The RSUs vest in two tranches over separate three-year periods. 271,923 RSUs vest ratably on an annual basis over 3 years starting December 2, 2026, and 149,700 RSUs vest ratably on an annual basis over 3 years starting May 5, 2027.

Was cash paid for the RSUs granted to the Hyperliquid (PURR) CFO?

No cash was paid for these RSUs according to the filing. The transaction price per share is reported as $0.0000, indicating this is an equity compensation grant linked to an employment agreement, not an open-market purchase of common stock.

How is this Form 4 transaction for Hyperliquid’s CFO classified by the SEC codes?

The transaction is coded “A” for a grant, award, or other acquisition. It is a non-derivative acquisition of common stock in the form of RSUs, with the filing describing it as a grant/award acquisition rather than a market buy or sell.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/07/2026 - 04:15 PM EDT 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^*

Beldner Brett Douglas

(Last) (First) (Middle)

C/O HYPERLIQUID STRATEGIES INC

477 MADISON AVENUE, 22ND FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Hyperliquid Strategies Inc [ PURR ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/05/2026

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 Stock	05/05/2026	05/05/2026	A		421,623(1)	A(1)	$0(1)	453,463	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. 1. Represents restricted stock units ("RSUs") the reporting person received on May 5, 2026 in connection with the entry of an employment agreement by and between the registrant and the reporting person, vesting as follows: (x) as to 271,923 RSUs, ratably on an annual basis over 3 years commencing on December 2, 2026, (y) as to 149,700 RSUs, ratably on an annual basis over 3 years commencing on May 5, 2027.

	/s/ Jason T. Simon, Attorney-in-Fact	05/07/2026
	** 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)