HUGIN ROBERT J 4

What Happened
Robert J. Hugin, a director of Biohaven Ltd. (BHVN), was granted a derivative award covering 68,693 shares on 2026-04-28. The reported acquisition price is $0.00 (derivative award), so no cash was paid at grant.

Key Details

• Transaction date: 2026-04-28; Form 4 filed: 2026-04-30 (timely filing).
• Transaction type: A — grant/award (derivative). Reported price: $0.00; reported dollar value: $0.
• Shares/units involved: 68,693 shares (stock option/award).
• Shares owned following the transaction: Not specified in the provided filing.
• Footnote: The award will vest in full on the earlier of (a) April 28, 2027 or (b) the date of the 2027 Annual Meeting of Shareholders, provided Hugin remains in continuous service through the vesting date.

Context
This was a grant of a derivative award (likely stock options or restricted stock units) as compensation, not an open-market purchase or sale. Such awards give the holder the right to acquire shares in the future if vesting and any exercise conditions are met and therefore do not represent an immediate cash investment or sale. Grants to directors are common as part of compensation and should be interpreted as a compensation event rather than a direct buy or sell signal.