DeFi Development (DFDV) director receives adjusted grant of 6,562 options

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

DeFi Development Corp. director Blake Janover received a grant of stock options as part of an equity adjustment. The grant covers 6,562 options, each allowing the purchase of one share of common stock at an exercise price of $22.50.

The option was issued as an adjustment to outstanding equity awards related to a warrant dividend distributed to common shareholders on October 27, 2025. The option is fully vested and exercisable on the grant date of March 31, 2026 and is scheduled to expire on January 21, 2028. Following this grant, Janover holds 6,562 derivative securities tied to common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider JANOVER BLAKE

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to buy)	6,562	$0.00	--

Holdings After Transaction: Stock Option (Right to buy) — 6,562 shares (Direct)

Footnotes (1)

The option was granted as an adjustment to outstanding equity awards in connection with the warrant dividend distributed by DeFi Development Corp. to its holders of common stock on October 27, 2025. This option is fully vested and exercisable on the date of grant.

Key Figures

Option grant size: 6,562 options Exercise price: $22.50 per share Expiry date: January 21, 2028 +2 more

5 metrics

Option grant size 6,562 options Stock Option (Right to buy) granted March 31, 2026

Exercise price $22.50 per share Conversion or exercise price for the stock options

Expiry date January 21, 2028 Expiration date of the granted stock options

Derivative holdings after grant 6,562 derivative securities Total options held following this transaction

Warrant dividend date October 27, 2025 Date of warrant dividend prompting equity award adjustment

Key Terms

Stock Option (Right to buy), warrant dividend, fully vested and exercisable, equity awards

4 terms

Stock Option (Right to buy) financial

"security_title: Stock Option (Right to buy)"

warrant dividend financial

"in connection with the warrant dividend distributed by DeFi Development Corp."

A warrant dividend is a payment to shareholders made in the form of warrants—receipts that give the holder the right to buy company shares at a set price in the future—instead of cash. It matters because it can boost potential upside like a coupon that lets you buy more stock later, but it can also dilute existing ownership and affect share value when the warrants are exercised, so investors should weigh future opportunity against possible dilution.

fully vested and exercisable financial

"This option is fully vested and exercisable on the date of grant."

equity awards financial

"as an adjustment to outstanding equity awards in connection with the warrant dividend"

Equity awards are payments to employees or directors made in the form of company stock or rights to buy stock later, serving as a way to share ownership rather than cash. For investors, they matter because they align staff incentives with company performance, can increase the number of shares outstanding over time (which can reduce each share’s claim on profits), and create compensation costs that affect reported earnings.

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 04:15 PM

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
Estimated average burden
hours per response:			0.5

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^*

JANOVER BLAKE

(Last)

(First)

(Middle)

C/O DEFI DEVELOPMENT CORP.

6401 CONGRESS AVENUE, SUITE 250

(Street)

BOCA RATON

FLORIDA

33487

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to buy)	$22.5	03/31/2026		A		6,562⁽¹⁾		03/31/2026⁽²⁾	01/21/2028	Common Stock	6,562	$0.0000	6,562	D

Explanation of Responses:

1. The option was granted as an adjustment to outstanding equity awards in connection with the warrant dividend distributed by DeFi Development Corp. to its holders of common stock on October 27, 2025.

2. This option is fully vested and exercisable on the date of grant.

	/s/ Blake Janover	04/02/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did DeFi Development Corp. (DFDV) report for Blake Janover?

DeFi Development Corp. reported that director Blake Janover received a grant of 6,562 stock options. These options relate to common stock and were issued as an adjustment to earlier equity awards tied to a prior warrant dividend distribution.

How many DeFi Development Corp. (DFDV) shares are covered by Blake Janover’s new options?

The new option grant to Blake Janover covers 6,562 shares of DeFi Development Corp. common stock. Each option represents the right to buy one share under the terms and pricing specified in the award.

What is the exercise price and vesting status of Blake Janover’s DFDV stock options?

Blake Janover’s stock options have an exercise price of $22.50 per share and are fully vested. The filing states they are exercisable on the grant date, meaning there is no waiting period before exercising.

When do Blake Janover’s DeFi Development Corp. (DFDV) options expire?

The stock options granted to Blake Janover are scheduled to expire on January 21, 2028. After that date, any unexercised options will lapse and can no longer be used to purchase DeFi Development Corp. common shares.

Why were new stock options granted to Blake Janover at DeFi Development Corp. (DFDV)?

The options were granted as an adjustment to outstanding equity awards in connection with a warrant dividend. DeFi Development Corp. distributed this warrant dividend to its common stockholders on October 27, 2025, prompting the compensatory adjustment.