Heffernan Michael Thomas 4

What Happened

• Michael Thomas Heffernan, a director of Biohaven Ltd. (BHVN), received an award/derivative acquisition of 68,693 shares on April 28, 2026. The reported price per share is $0.00 (a stock option award/derivative grant), so no cash was paid at grant.

Key Details

• Transaction date: 2026-04-28 (reported on Form 4 filed 2026-04-30).
• Transaction type/code: Award/Grant (A); derivative security (stock option award).
• Shares/options granted: 68,693; reported price: $0.00; aggregate cash reported: $0.
• Vesting: The option will vest in full on the earlier of (a) April 28, 2027 or (b) the date of the 2027 Annual Meeting of Shareholders, subject to Heffernan’s continuous service through the vesting date (per footnote).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Timeliness: Filing appears timely (transaction 2026-04-28, Form 4 filed 2026-04-30).

Context

• This is a derivative grant (an option award) — it does not represent immediately tradable shares and requires vesting before the insider can exercise or sell underlying shares. It is not an open-market purchase or sale and should be read as a compensation-related award rather than an immediate market trade.