Lawrence E. Leibowitz - 04 Dec 2025 Form 4 Insider Report for Hyperliquid Strategies Inc (HYPS)

Reporting relationship: Director
Issuer ticker: HYPS
Reported as of: 04 Dec 2025
Net transaction value: $0
SEC form: 4
Accepted by SEC: 12 Dec 2025, 11:55:00 UTC
Prior SEC filing: 10 Dec 2025
Next SEC filing: 11 Feb 2026
Source filing: View source filing
Reporting owner signature: /s/ Jason T. Simon, Attorney-in-Fact

Key filing fact

Lawrence E. Leibowitz filed Form 4 for Hyperliquid Strategies Inc (HYPS) on 12 Dec 2025.

Key facts

This page summarizes Lawrence E. Leibowitz's Form 4 filing for Hyperliquid Strategies Inc (HYPS).
1 reported transaction and 0 derivative rows are listed below.
Accepted by SEC: 12 Dec 2025, 11:55.

Change

Previous filing in this sequence was filed on 10 Dec 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001276505 Primary reporting owner

LEIBOWITZ LAWRENCE E

Relationship: Director
Address: C/O HYPERLIQUID STRATEGIES INC, 477 MADISON AVENUE, 22ND FLOOR, NEW YORK
Signature: /s/ Jason T. Simon, Attorney-in-Fact
Signature date: 12 Dec 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

PURR transaction

Common Stock

Other

Transaction value
Shares: +39,800
Change %
Price
Shares after: 39,800
Date: 04 Dec 2025
Ownership: Direct
Footnotes: F1

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 1 footnote

Footnote F1

On December 2, 2025, Hyperliquid Strategies Inc (the "Company") completed its previously announced business combination (the "Closing"), pursuant to the Business Combination Agreement, dated as of July 11, 2025 (as amended on September 22, 2025, the "BCA"), by and among the Company, Sonnet BioTherapeutics Holdings, Inc. ("Sonnet"), Rorschach I LLC, TBS Merger Sub Inc. and Rorschach Merger Sub, LLC . In connection with the Closing, Rorschach Capital LLC received an aggregate of 6,580,800 shares of common stock, par value $0.01 per share, of the Company (the "Common Stock"). On December 4, 2025, Rorschach Capital LLC distributed 39,800 shares of Common Stock to Mr. Leibowitz, a member of Rorschach Capital LLC.