Irina Antonijevic - Oct 3, 2022 Form 4 Insider Report for Biohaven Ltd. (BHVN)

Role: Director
Signature: /s/ George Clark, Attorney-in-Fact
Stock symbol: BHVN
Transactions as of: Oct 3, 2022
Transactions value $: $0
Form type: 4
Date filed: 10/5/2022, 05:41 PM
Previous filing: Sep 30, 2022
Next filing: May 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BHVN	Common Shares	Other	$0	+2.54K		$0.00	2.54K	Oct 3, 2022	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BHVN	Stock Options (Right to Buy)	Award	$0	+125K		$0.00	125K	Oct 3, 2022	Common Shares	125K	$7.00	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Effective as of a pro rata distribution by Biohaven Pharmaceutical Holding Company Ltd. ("RemainCo") to holders of its common shares (the "Distribution") pursuant to the Separation and Distribution Agreement (the "Separation Agreement"), dated as of May 9, 2022, by and among RemainCo, the Issuer, and Pfizer Inc. ("Pfizer"), each outstanding restricted share unit of RemainCo was adjusted so that such restricted share unit became a restricted share unit in respect of common shares ("Common Shares") of the Issuer (each, an "Issuer RSU") and a restricted share unit in respect of RemainCo common shares. (Cont'd in FN2)
F2	(Cont'd from FN1) As a result, the Reporting Person acquired restricted share units in respect of Common Shares in an amount determined in accordance with the Separation Agreement. At the effective time of the merger of a wholly owned subsidiary of Pfizer ("Merger Sub") with and into RemainCo pursuant to the Agreement and Plan of Merger, dated as of May 9, 2022, by and among RemainCo, Pfizer and Merger Sub, the Issuer RSUs accelerated and vested in full and will subsequently be settled in Common Shares.
F3	The shares underlying this option vest in four equal installments on October 3, 2022, 2023, 2024, and 2025, subject to the Reporting Person's continuous service with the Issuer at each vesting date.