GREGORY JULIA P 4

What Happened
Julia P. Gregory, a director of Biohaven Ltd. (BHVN), received an award in the form of a derivative stock option covering 68,693 shares on April 28, 2026. The Form 4 reports an acquisition value of $0 (typical for option grants); this was an award/grant (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-28; Form 4 filed: 2026-04-30 (timely filing).
• Award: derivative stock option for 68,693 shares; reported acquisition price $0.00.
• Vesting: the option will vest in full on the earlier of (a) April 28, 2027 or (b) the date of the 2027 Annual Meeting, subject to Gregory’s continuous service.
• Shares owned after transaction: not specified in the provided filing details.
• This grant does not reflect an immediate cash transaction or sale; no 10b5-1 or tax-withholding details were reported in the summary provided.

Context
This was a standard equity compensation award to a director. As a derivative grant (stock option), it vests over time and does not represent immediate buying or selling of company stock. Such awards are common for retaining directors and do not, by themselves, indicate insider buying or selling sentiment. If the option is later exercised or shares are sold, that would generate a separate filing.