Buten Matthew 4

What Happened

• Matthew Buten, Chief Financial Officer of Biohaven Ltd. (BHVN), was granted a derivative award covering 175,000 shares on February 27, 2026. The Form 4 records the acquisition price as $0.00, indicating a compensation award (option/RSU style grant) rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-27; Form 4 filed: 2026-03-03 (filed within the normal 2-business-day reporting window).
• Transaction type/code: A (grant/award); reported as a derivative (option/award) with $0.00 cash paid at grant.
• Grant size: 175,000 shares (underlying the option/award).
• Vesting: The shares underlying this option vest in four equal installments on Feb 27 of 2026, 2027, 2028 and 2029, subject to continuous service (per footnote).
• Shares owned after transaction: Not specified in the provided filing details.
• No indications of a sale, exercise, tax withholding, or 10b5-1 plan in this filing.

Context

• This was a compensation award (derivative grant) — not an immediate purchase or sale. The award simply gives rights to future shares contingent on vesting and any exercise terms; no shares were reported as exercised or sold here.
• Such grants are commonly used for retention and incentive pay. For investors, purchases by insiders may be a stronger direct signal of confidence than compensation awards, which are routine for executives.