[Form 4] DeFi Development Corp. Insider Trading Activity

Rhea-AI Filing Summary

DeFi Development Corp. (DFDV) insider Parker White, the company’s COO, Chief Investment Officer and a director, reported several equity transactions mainly involving internal restructurings and a warrant dividend. On 11/21/2025, White acquired 242,071 shares of common stock at $0.0000 per share through a pro rata distribution from Defi Dev LLC and disposed of 395,295 common shares indirectly held by Defi Dev LLC, reflecting a redistribution of interests and a prior 7‑for‑1 stock split. On 11/25/2025, White purchased 7,041 and 3,003 additional common shares at $6.90 and $6.94, bringing direct common stock holdings to 252,115 shares.

White also reported changes in indirect holdings: after transfers tied to loan repayment, 2,488,992 common shares and 4,500 Series A preferred shares were held through Defi Dev LLC, and 333,841 common shares through SolSync Solutions Partnership. Derivative positions include warrants with a $22.50 exercise price and stock options with a $3.91 exercise price. A prior warrant dividend on 10/27/2025, based on one warrant for each 10 common shares held as of 10/23/2025, resulted in White receiving 288,428 warrants to purchase DFDV common stock.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

White Parker

(Last) (First) (Middle)

6041 CONGRESS AVENUE, SUITE 250

(Street)

BOCA RATON FL 33487

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DeFi Development Corp. [ DFDV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	COO & Chief Investment Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/27/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/21/2025		J		242,071(1)	A	$0.0000	242,071	D
Common Stock	11/25/2025		P		7,041	A	$6.9	249,112	D
Common Stock	11/25/2025		P		3,003	A	$6.94	252,115	D
Common Stock	11/21/2025		J		395,295(2)	D	$0.0000	2,488,992(3)	I	By Defi Dev LLC(4)
Common Stock	11/21/2025		J		271,043(5)	D	$4.96	333,841(3)	I	By SolSync Solutions Partnership(6)
Series A Preferred Stock								4,500	I	By Defi Dev LLC(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrant (Right to buy)	$22.5	11/21/2025		J		220,397(1)		11/16/2025	01/21/2028	Common Stock	220,397	$0.0000	220,397	D
Warrant (Right to buy)	$22.5	10/27/2025		J		288,428(7)		11/16/2025	01/21/2028	Common Stock	288,428	$0.0000	288,428	I	By Defi Dev LLC(4)
Warrant (Right to buy)	$22.5	11/21/2025		J			288,428(1)	11/16/2025	01/21/2028	Common Stock	288,428	$0.0000	0.0000	I	By Defi Dev LLC(4)
Warrant (Right to buy)	$22.5	10/27/2025		J		60,488(7)		11/16/2025	01/21/2028	Common Stock	60,488	$0.0000	60,488	I	By SolSync Solutions Partnership(6)
Warrant (Right to buy)	$22.5	11/21/2025		J			27,104(8)	11/16/2025	01/21/2028	Common Stock	27,104	$0.0000	33,384	I	By SolSync Solutions Partnership(6)
Stock Option (Right to buy)	$3.91							04/09/2026	04/09/2035	Common Stock	191,989		191,989	D

Explanation of Responses:

1. Represents a pro rata distribution from Defi Dev LLC of which the reporting person serves as manager.

2. Represents a pro rata distribution from Defi Dev LLC to its Class A members.

3. Reflects a 7-for-1 forward stock split effective on May 21, 2025.

4. Defi Dev LLC is a manager-managed limited liability company, with Parker White serving as manager.

5. Represents the transfer of beneficial ownership in shares held by SolSync Solutions Partnership, an Alaska general partnership, through transfer of partnership units to Defi International Holding LLC, of which Joseph Onorati is manager, in connection with repayment of a loan.

6. Parker White and Joseph Onorati are partners of SolSync Solutions Partnership, an Alaska general partnership. Parker White is the general partner and maintains voting and dispositive control over the reported shares.

7. On October 8, 2025, DFDV declared a warrant dividend of warrants to purchase common stock in the amount of 1 warrant for each 10 shares of common stock held by each shareholder of record on October 23, 2025. The warrants were distributed on or around October 27, 2025. As a result, the reporting person received 288,428 warrants to purchase DFDV common stock.

8. Represents the transfer of beneficial ownership in warrants to purchase common stock held by SolSync Solutions Partnership, an Alaska general partnership, through transfer of partnership units to Defi International Holding LLC, of which Joseph Onorati is manager, in connection with repayment of a loan.

	/s/ Parker White	11/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider activity did DFDV officer Parker White report on this Form 4?

Parker White reported a mix of common stock acquisitions, dispositions, and warrant-related transactions, including pro rata distributions from Defi Dev LLC, transfers involving SolSync Solutions Partnership, and open-market purchases of DFDV common stock.

How many DFDV common shares does Parker White hold directly after these transactions?

Following the reported transactions, Parker White directly beneficially owns 252,115 shares of DFDV common stock.

What indirect DFDV holdings are reported for Parker White through affiliated entities?

Indirectly, the filing reports 2,488,992 common shares and 4,500 Series A preferred shares held through Defi Dev LLC, and 333,841 common shares held through SolSync Solutions Partnership.

What was the DFDV warrant dividend described in the Form 4?

On October 8, 2025, DFDV declared a warrant dividend of 1 warrant for each 10 shares of common stock held by shareholders of record on October 23, 2025, distributed on or around October 27, 2025, resulting in Parker White receiving 288,428 warrants.

What are the key terms of the warrants reported by Parker White in DFDV?

The warrants reported have an exercise price of $22.50 per share, are exercisable starting 11/16/2025, and expire on 01/21/2028, with underlying securities consisting of DFDV common stock.

Does the Form 4 mention any stock split for DFDV common shares?

Yes. The filing notes that the reported figures reflect a 7-for-1 forward stock split of DFDV common stock that was effective on May 21, 2025.

What stock option position does Parker White report in DFDV?

The filing lists a stock option (right to buy) on DFDV common stock for 191,989 shares at an exercise price of $3.91 per share, expiring on 04/09/2035.