QVT affiliate trims Roivant (ROIV) stake, still holds 18.0M shares

Rhea-AI Filing Summary

Roivant Sciences Ltd. (ROIV) filed a Form 4 showing a significant shareholder-related sale of common shares. On 11/19/2025, an entity associated with QVT sold a total of 1,300,000 Roivant common shares in four open-market transactions at prices between $20.16 and $20.25 per share. After these sales, 18,047,727 common shares were reported as beneficially owned indirectly through QVT Financial Investment Cayman Ltd.

The explanation notes that QVT Financial LP and its related entities may be deemed to beneficially own 28,081,635 Roivant common shares in aggregate through several affiliated vehicles. QVT states that it disclaims beneficial ownership of these shares except to the extent of any pecuniary interest.

Insights

Equity Ownership Analyst

Insider-related fund sold 1.3M Roivant shares, modestly reducing an otherwise still-large indirect beneficial position.

This Form 4 reports multiple open-market sales of **Roivant Sciences Ltd.** common shares on 11/19/2025 by an entity indirectly associated with the reporting person. Four separate sale tranches totaled **1,300,000 common shares** at prices between $20.16 and $20.25 per share. After these trades, **QVT Financial Investment Cayman Ltd.** holds **18,047,727** common shares indirectly attributed to the reporting person.

The explanatory note states that, in aggregate, related QVT entities may be deemed to beneficially own **28,081,635** common shares across three vehicles: QVT P&E Roiv Hldgs Ltd., QVT Deferred Compensation Holdings Ltd., and QVT Financial Investment Cayman Ltd. The structure shows QVT Financial LP and its general partner QVT Financial GP LLC as potentially sharing beneficial ownership, while expressly disclaiming beneficial ownership beyond any pecuniary interest. This language limits the legal interpretation of control and economic exposure under Section 16 rules.

For practical monitoring, the key facts are the **1.3 million-share reduction** in this indirect position on 11/19/2025 and the still substantial remaining aggregate beneficial stake of **28,081,635** shares. Future Form 4 filings from the same reporting chain will show whether these sales are a one-time size adjustment or part of an ongoing reduction pattern over subsequent reporting dates.

Insider Trade Summary

Net Seller: 1,300,000 shares ($26,304,500)

Net Sell 4 txns

Insider QVT Financial LP

Role Insider

Sold 1,300,000 shs ($26.30M)

Type	Security	Shares	Price	Value
Sale	Common Shares	850,000	$20.25	$17.21M
Sale	Common Shares	150,000	$20.20	$3.03M
Sale	Common Shares	125,000	$20.16	$2.52M
Sale	Common Shares	175,000	$20.24	$3.54M

Holdings After Transaction: Common Shares — 18,497,727 shares (Indirect, Held by QVT Financial Investment Cayman Ltd.)

Footnotes (1)

1. Aggregately, following the transactions described above, QVT Financial LP ("QVT"), a Delaware limited partnership, may be deemed to be the beneficial owner of 28,081,635 Common Shares, consisting of the Common Shares owned by QVT P&E Roiv Hldgs Ltd. ("QVT P&E"), QVT Deferred Compensation Holdings Ltd ("QVT DCH") and QVT Financial Investment Cayman Ltd. ("QVT FIC"). QVT Financial GP LLC ("QVT Financial GP"), a Delaware limited liability company, is the general partner of QVT and may be deemed to beneficially own the same number of Common Shares reported by QVT. QVT provides certain investment advisory services for, and thereby may be deemed to beneficially own the Common Shares held by, QVT P&E, QVT DCH and QVT FIC. QVT disclaims beneficial ownership of such Common Shares, except to the extent of any pecuniary interest therein, and the inclusion of these Common Shares in this report shall not be deemed an admission of beneficial ownership of all of the reported Common Shares for purposes of Section 16 or for any other purpose.

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^*

QVT Financial LP

(Last) (First) (Middle)

888 SEVENTH AVENUE, 43RD FLOOR

(Street)

NEW YORK NY 10106

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Roivant Sciences Ltd. [ ROIV ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/19/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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 Shares	11/19/2025		S		850,000	D	$20.25	18,497,727	I(1)	Held by QVT Financial Investment Cayman Ltd.(2)
Common Shares	11/19/2025		S		150,000	D	$20.2	18,347,727	I(1)	Held by QVT Financial Investment Cayman Ltd.(2)
Common Shares	11/19/2025		S		125,000	D	$20.16	18,222,727	I(1)	Held by QVT Financial Investment Cayman Ltd.(2)
Common Shares	11/19/2025		S		175,000	D	$20.24	18,047,727	I(1)	Held by QVT Financial Investment Cayman Ltd.(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. Aggregately, following the transactions described above, QVT Financial LP ("QVT"), a Delaware limited partnership, may be deemed to be the beneficial owner of 28,081,635 Common Shares, consisting of the Common Shares owned by QVT P&E Roiv Hldgs Ltd. ("QVT P&E"), QVT Deferred Compensation Holdings Ltd ("QVT DCH") and QVT Financial Investment Cayman Ltd. ("QVT FIC"). QVT Financial GP LLC ("QVT Financial GP"), a Delaware limited liability company, is the general partner of QVT and may be deemed to beneficially own the same number of Common Shares reported by QVT.

2. QVT provides certain investment advisory services for, and thereby may be deemed to beneficially own the Common Shares held by, QVT P&E, QVT DCH and QVT FIC. QVT disclaims beneficial ownership of such Common Shares, except to the extent of any pecuniary interest therein, and the inclusion of these Common Shares in this report shall not be deemed an admission of beneficial ownership of all of the reported Common Shares for purposes of Section 16 or for any other purpose.

	/s/ Meg Eisner	11/21/2025
	** 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.

FAQ

What insider transaction did Roivant Sciences (ROIV) disclose in this Form 4?

The Form 4 reports that an entity associated with QVT sold a total of 1,300,000 Roivant common shares on 11/19/2025 in multiple open-market transactions.

At what prices were Roivant (ROIV) shares sold in the reported transactions?

The reported sales of Roivant common shares on 11/19/2025 occurred at prices of $20.25, $20.20, $20.16, and $20.24 per share.

How many Roivant (ROIV) shares does the reporting person own after these sales?

Following the reported transactions, 18,047,727 Roivant common shares were shown as beneficially owned indirectly through QVT Financial Investment Cayman Ltd.

Who is the reporting person in this Roivant Sciences (ROIV) Form 4?

The filing describes QVT Financial LP and its affiliates, including QVT Financial Investment Cayman Ltd., as the entities through which the Roivant common shares are held or may be deemed beneficially owned.

What total Roivant (ROIV) beneficial ownership is attributed to QVT and its affiliates?

The explanation states that QVT Financial LP may be deemed to beneficially own 28,081,635 Roivant common shares in aggregate through several affiliated entities.

Does QVT claim full beneficial ownership of all reported Roivant (ROIV) shares?

No. QVT states that it disclaims beneficial ownership of the Roivant common shares held by its advised entities, except to the extent of any pecuniary interest.