Hyperliquid Strategies awards director 17,123 shares

Tremson Capital Management, LLC held 8,188 shares; its managing member, Jeffrey Tuder, disclaimed beneficial ownership except to the extent of his pecuniary interest.

Available on EDGAR 11/09/2026 - 04:04 PM EST Accepted by SEC EDGAR 11/09/2026 - 04:03 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Hyperliquid Strategies Inc (PURR) director Jeffrey Tuder reported an award of 17,123 shares of common stock; the award represents restricted stock units scheduled to vest over a one-year period on November 5, 2027. His reported direct holdings after the award were 289,604 shares.

Insider Trade Summary

Grant/Award: 17,123 shares

Grant/Award 1 txn

Insider TUDER JEFFREY

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	17,123	$0.00	$0.00
Holding	Common Stock F2	--	--	--

Holdings After Transaction: Common Stock — 289,604 shares (Direct); Common Stock — 8,188 shares (Indirect, See footnote)

Holdings Before and After: Common Stock, 272,481 to 289,604 shares (Direct)

Footnotes (2)

1. F1. Represents restricted stock units scheduled to vest over a one-year period on November 5, 2027.
2. F2. The securities are held directly by Tremson Capital Management, LLC ("Tremson") and indirectly by Jeffrey Tuder, managing member of Tremson. Mr. Tuder disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Key Figures

Award: 17,123 shares Direct holdings after award: 289,604 shares Shares held by Tremson Capital Management, LLC: 8,188 shares +1 more

4 metrics

Award 17,123 shares Reported on November 5, 2026

Direct holdings after award 289,604 shares Reported on November 5, 2026

Shares held by Tremson Capital Management, LLC 8,188 shares Reported on November 5, 2026

Reported per-share price $0.00 per share Award reported on November 5, 2026

Key Terms

restricted stock units, beneficial ownership, pecuniary interest

3 terms

restricted stock units financial

"Represents restricted stock units scheduled to vest"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

beneficial ownership regulatory

"disclaims beneficial ownership of such securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"except to the extent of his pecuniary interest therein"

FAQ

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

How many PURR shares did director Jeffrey Tuder receive?

Jeffrey Tuder reported an award of 17,123 shares of common stock on November 5, 2026. The award represents restricted stock units scheduled to vest over a one-year period on November 5, 2027.

How many PURR shares were held by Tremson Capital Management?

Tremson Capital Management, LLC directly held 8,188 shares, and Jeffrey Tuder, its managing member, was reported as holding them indirectly. Tuder disclaimed beneficial ownership except to the extent of his pecuniary interest.

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

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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^*

TUDER JEFFREY

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/05/2026

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	11/05/2026		A		17,123	A(1)	$0(1)	289,604	D
Common Stock								8,188	I	See footnote(2)

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 restricted stock units scheduled to vest over a one-year period on November 5, 2027.

2. The securities are held directly by Tremson Capital Management, LLC ("Tremson") and indirectly by Jeffrey Tuder, managing member of Tremson. Mr. Tuder disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

	Jason T. Simon, Attorney-in-Fact	11/09/2026
	** 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)