Director at Hyperliquid Strategies (PURR) takes equity in lieu of cash

Rhea-AI Filing Summary

Hyperliquid Strategies Inc director Nailesh Bhatt reported receiving a stock-based compensation award. On July 1, 2026, he acquired 1,588 shares of Common Stock at $0.00 per share, classified as a grant or award rather than an open-market trade.

According to the filing, Bhatt elected to receive these shares as compensation in lieu of cash under Hyperliquid Strategies’ 2025 Equity Incentive Plan. Following this award, he directly holds 46,914 shares of the company’s common stock, reflecting increased equity-based compensation and no reported sales or dispositions in this filing.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bhatt Nailesh

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,588	$0.00	--

Holdings After Transaction: Common Stock — 46,914 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 1,588 shares Grant price: $0.00 per share Shares held after transaction: 46,914 shares +2 more

5 metrics

Shares granted 1,588 shares Common Stock grant on July 1, 2026

Grant price $0.00 per share Compensation in lieu of cash

Shares held after transaction 46,914 shares Director’s direct ownership after grant

Transaction code A Grant, award, or other acquisition

Transaction direction acquire Non-derivative Common Stock

Key Terms

2025 Equity Incentive Plan, in lieu of cash, grant/award acquisition, Common Stock

4 terms

2025 Equity Incentive Plan financial

"pursuant to the Issuer's 2025 Equity Incentive Plan"

in lieu of cash financial

"elected to receive as compensation in lieu of cash"

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

Common Stock financial

"Represents shares of common stock the reporting person elected"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/06/2026 - 04:51 PM Accepted by SEC EDGAR 07/06/2026 - 04:51 PM Learn about SEC filing dates

FAQ

What did Hyperliquid Strategies (PURR) director Nailesh Bhatt report on this Form 4?

Director Nailesh Bhatt reported receiving 1,588 shares of Hyperliquid Strategies common stock. The shares were granted as compensation under the company’s 2025 Equity Incentive Plan, increasing his direct holdings to 46,914 shares with no sales disclosed.

Was the PURR Form 4 transaction a stock purchase or a compensation grant?

The Form 4 shows a compensation grant, not a market purchase. Bhatt received 1,588 shares at $0.00 per share as stock compensation in lieu of cash, under Hyperliquid Strategies’ 2025 Equity Incentive Plan, categorized as a grant/award acquisition.

How many Hyperliquid Strategies (PURR) shares does Nailesh Bhatt hold after this filing?

After the reported transaction, Bhatt directly holds 46,914 shares of Hyperliquid Strategies common stock. This total reflects the addition of 1,588 shares granted on July 1, 2026, with no dispositions or derivative positions reported in this filing.

What is the nature of the 1,588-share award reported for PURR on July 1, 2026?

The 1,588 shares are common stock issued as compensation in lieu of cash. The footnote explains Bhatt elected to receive stock rather than cash under the 2025 Equity Incentive Plan, and the transaction code “A” denotes a grant or award acquisition.

Does the Hyperliquid Strategies (PURR) Form 4 show any insider sales or disposals?

No sales or disposals are reported in this Form 4. The filing records only an acquisition via a grant of 1,588 shares, bringing Bhatt’s direct ownership to 46,914 shares, with no sell transactions or tax-withholding dispositions disclosed.

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^*

Bhatt Nailesh

(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)
07/01/2026

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	07/01/2026		A		1,588	A(1)	(1)	46,914	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. Represents shares of common stock the reporting person elected to receive as compensation in lieu of cash pursuant to the Issuer's 2025 Equity Incentive Plan.

	Jason T. Simon, Attorney-in-Fact	07/06/2026
	** 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)