Hyperliquid CEO gets 416K shares in transfer

Hyperliquid Strategies Inc CEO David Ira Schamis received over 416,000 PURR shares via a pro rata LLC distribution, lifting his direct holdings above 552,000 shares.

Available on EDGAR 09/18/2026 - 06:26 PM EDT Accepted by SEC EDGAR 09/18/2026 - 06:26 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Hyperliquid Strategies Inc (PURR) reported that CEO and director David Ira Schamis acquired 416,013 shares of Common Stock on September 17, 2026 through an "other" type transaction. The shares were received as a pro rata distribution from Rorschach Capital LLC, and he now holds 552,322 shares directly.

No Rule 10b5-1 trading plan is reported for this transaction, and the shares were transferred at a stated price of $0.00 per share, reflecting an internal distribution rather than an open-market purchase.

Insider Trade Summary

Other: 416,013 shares

Other 1 txn

Insider Schamis David Ira

Role CEO

Type	Security	Shares	Price	Value
Other	Common Stock F1	416,013	$0.00	$0.00

Holdings After Transaction: Common Stock — 552,322 shares (Direct)

Holdings Before and After: Common Stock, 136,309 to 552,322 shares (Direct)

Footnotes (1)

1. F1. Pro rata distribution from Rorschach Capital LLC, of which the reporting person is a non-managing member.

Key Figures

Shares acquired: 416,013 shares Shares held after transaction: 552,322 shares Reported price per share: $0.00 per share +1 more

4 metrics

Shares acquired 416,013 shares Common Stock received by David Ira Schamis on September 17, 2026

Shares held after transaction 552,322 shares Direct Common Stock holdings of David Ira Schamis after the transaction

Reported price per share $0.00 per share Stated price for the 416,013 shares received in the pro rata distribution

Shares involved in restructuring-type transfer 416,013 shares Shares transferred via an "other" type transaction treated as a restructuring event

Key Terms

pro rata distribution, non-managing member, Rule 10b5-1

3 terms

pro rata distribution financial

"Pro rata distribution from Rorschach Capital LLC, of which the reporting person is a non-managing member."

A pro rata distribution is when a company or organization shares out money, assets, or benefits evenly among all eligible people based on their size or share. For example, if a company makes a profit and distributes it to shareholders, each person gets a portion proportional to how many shares they own. It ensures everyone gets their fair part based on their ownership or stake.

non-managing member financial

"Pro rata distribution from Rorschach Capital LLC, of which the reporting person is a non-managing member."

Rule 10b5-1 regulatory

"No Rule 10b5-1 trading plan is reported for this transaction, and the shares were transferred at a stated price of $0.00 per share."

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

FAQ

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

What insider transaction did PURR report for David Ira Schamis on September 17, 2026?

Hyperliquid Strategies Inc reported that CEO and director David Ira Schamis acquired 416,013 shares of Common Stock on September 17, 2026 via an "other" type transaction described as a pro rata distribution from Rorschach Capital LLC.

How many PURR shares does David Ira Schamis hold after this transaction?

After the September 17, 2026 transaction, David Ira Schamis directly holds 552,322 shares of Hyperliquid Strategies Inc Common Stock, as reported in the Form 4.

What was the price per share for the 416,013 PURR shares received by David Ira Schamis?

The 416,013 Hyperliquid Strategies Inc shares were reported at a stated price of $0.00 per share, indicating an internal transfer through a pro rata distribution rather than a market purchase.

What is the source of the 416,013 PURR shares received by David Ira Schamis?

The filing states the 416,013 shares came from a pro rata distribution from Rorschach Capital LLC, of which David Ira Schamis is described as a non-managing member.

Was the PURR insider transaction by David Ira Schamis made under a Rule 10b5-1 plan?

No. The filing indicates that no Rule 10b5-1 trading plan is reported in connection with the September 17, 2026 acquisition of 416,013 shares by David Ira Schamis.

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

Form 4 Insider Transactions: What Each Field Means →

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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^*

Schamis David Ira

(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
X	Officer (give title below)		Other (specify below)
	CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2026

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	09/17/2026		J(1)		416,013	A	$0	552,322	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. Pro rata distribution from Rorschach Capital LLC, of which the reporting person is a non-managing member.

	Jason T. Simon, Attorney-in-Fact	09/18/2026
	** 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)