Jeffrey Tuder - 02 Dec 2025 Form 4 Insider Report for Hyperliquid Strategies Inc (HYPS)

Reporting relationship: Director
Issuer ticker: HYPS
Reported as of: 02 Dec 2025
Net transaction value: $0
SEC form: 4
Accepted by SEC: 12 Dec 2025, 11:52:13 UTC
Prior SEC filing: 03 Oct 2025
Next SEC filing: 05 Jan 2026
Source filing: View source filing
Reporting owner signature: /s/ Jason T. Simon, Attorney-in-Fact

Key filing fact

Jeffrey Tuder filed Form 4 for Hyperliquid Strategies Inc (HYPS) on 12 Dec 2025.

Key facts

This page summarizes Jeffrey Tuder's Form 4 filing for Hyperliquid Strategies Inc (HYPS).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 12 Dec 2025, 11:52.

Change

Previous filing in this sequence was filed on 03 Oct 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 0001671976 Primary reporting owner

TUDER JEFFREY

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: +8,188
Change %
Price
Shares after: 8,188
Date: 02 Dec 2025
Ownership: See Footnote
Footnotes: F1, F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

PURR transaction Derivative

Warrants

Other

Transaction value
Shares: +16,000
Change %
Price
Shares after: 16,000
Date: 02 Dec 2025
Ownership: See Footnote
Underlying class: Common Stock
Underlying amount: 16,000
Exercise price: $6.25
Footnotes: F2, F3

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

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, Tremson Capital Management, LLC ("Tremson") received 8,188 shares of common stock, par value $0.01 per share, of the Company (the "Common Stock"), in exchange of certain securities of Sonnet Tremson held prior to the Closing.

Footnote F2

The securities are held directly by Tremson and indirectly by Jeffrey Tuder, managing member of Tremson. Mr. Tuder disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.

Footnote F3

In connection with the Closing, Tremson received warrants to purchase an aggregate of 16,000 shares of Common Stock, at an initial exercise price of $6.25 per share, in exchange of certain warrants of Sonnet Tremson held prior to the Closing.