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Stablecoin Development Corporation appointed Henry Blynn as Chief Operating Officer effective July 15, 2026. Blynn previously served as the company’s Head of Business Operations and Strategy and has prior experience in digital asset funds, crypto brokerage, private equity, and investment banking.
Under an amended and restated employment agreement dated July 16, 2026, Blynn receives a $300,000 base salary and is eligible for an annual cash bonus targeting 50% of base salary. In certain terminations without Cause or for Good Reason he is entitled to severance benefits, with salary continuation and health-benefit premiums increased to 12 months and paid in a lump sum if such termination occurs within 12 months of a change in control event.
The Compensation Committee previously granted Blynn 1,400,000 time-based RSUs that vest in three equal installments on February 16, 2027, January 16, 2028, and January 16, 2029, subject to continued employment and with accelerated vesting in specified termination and transaction scenarios. The Board also set CEO Michael Kazley’s 2027 base salary at $400,000, effective January 1, 2027, while his target annual bonus remains at least 100% of base salary.
Stablecoin Development Corp director and CEO-linked entities exercised a large pre-funded warrant position and increased their common stock holdings. Entities associated with Kazley Michael John exercised pre-funded warrants for 11,332,020 shares of common stock at approximately $0.0024 per share on a cashless basis.
According to the footnote, 24,720 warrant shares were withheld to pay the exercise price, and 11,307,300 shares were issued to these entities. Following the transactions, they indirectly held 22,693,236 shares of Stablecoin Development Corp common stock.
Stablecoin Development Corp reported that investment entities including Framework Ventures IV L.P. exercised pre-funded warrants for 11,332,020 shares of common stock at about $0.002385 per share. The exercise was done on a cashless basis, with 24,720 shares withheld to pay the exercise price and 11,307,300 shares issued. Following these transactions, the reporting persons hold 22,668,516 common shares directly.
Stablecoin Development Corp reporting persons exercised pre-funded warrants for common stock and settled the exercise on a cashless basis. They exercised a warrant to acquire 11,332,020 shares of common stock at an exercise price of $0.002385 per share, according to the footnote.
To pay the exercise price, 24,720 of the warrant shares were withheld, and the remaining 11,307,300 shares of common stock were issued to the reporting persons. After these transactions, the reporting persons held 22,668,516 shares of common stock directly, and the exercised pre-funded warrants were fully eliminated.
Framework Ventures IV L.P. and affiliated reporting persons have amended their ownership disclosure for Stablecoin Development Corp following the full cashless exercise of certain pre-funded warrants. They now beneficially own 32,690,366 shares of common stock, representing approximately 45.9% of the outstanding class.
The amendment explains that 11,332,020 shares underlying pre-funded warrants were exercised on a cashless basis, with 24,720 shares withheld to pay the exercise price and 11,307,300 shares issued. Voting and dispositive power over all 32,690,366 shares is reported as shared among the reporting persons.
Stablecoin Development Corp’s major holder updated its ownership after exercising pre-funded warrants. R01 Fund LP, R01 Capital LLC and R01 Capital Manager LLC now beneficially own 33,404,510 shares of common stock, representing about 46.9% of the company, based on 27,835,180 shares outstanding as of June 15, 2026.
Michael Kazley, who is associated with these entities, beneficially owns 37,523,338 shares, or about 49.8% of the common stock. The change reflects a cashless exercise of 11,332,020 pre-funded warrants issued in October 2025, in which 24,720 shares were withheld to cover the exercise price and 11,307,300 shares were issued.
Stablecoin Development Corporation amended October 2025 pre-funded warrants held by R01 Fund LP and Framework Ventures IV L.P. to remove certain exercise restrictions, leading both holders to fully exercise on a cashless basis.
Each holder received 11,307,300 shares of common stock after 24,720 shares were withheld as the cashless exercise price, resulting in an aggregate issuance of 22,614,600 new shares. Because the exercise was cashless, the company did not receive cash proceeds from these warrant exercises. Following these issuances, 50,449,780 shares of common stock were issued and outstanding as of June 15, 2026, meaning existing shareholders experienced a significant increase in the total share count.
Sky Frontier Foundation filed a Schedule 13D reporting beneficial ownership of 3,009,502 shares of Stablecoin Development Corp common stock, representing 9.99% of the class as of May 17, 2026. This stake is calculated based on 27,115,646 shares outstanding plus shares issuable under a warrant.
The foundation holds a pre-funded warrant for up to 20,000,000 shares (post reverse split), exercisable in tranches starting July 16, 2026, but subject to a 9.99% Beneficial Ownership Limitation. It describes its position as a long-term, governance-focused investment, with rights to nominate one director while owning at least 5% and to consent to changes to the issuer’s digital asset strategy for 24 months after January 16, 2026.
Stablecoin Development Corp: Tether Global Investments Fund, S.I.C.A.F., S.A., Tether Investments, S.A. de C.V. and Giancarlo Devasini filed a Schedule 13G reporting beneficial ownership of 3,009,502 shares of Common Stock subject to a 9.99% Ownership Limitation.
The filing ties the percentage to May 11, 2026 share data, stating 27,115,646 shares outstanding as of May 11, 2026. The Reporting Persons disclaim beneficial ownership of 5,740,498 shares that would otherwise be convertible due to the Ownership Limitation; the securities reported are directly owned by Tether Investments.
Stablecoin Development Corporation reported a sharp turnaround in Q1 2026, generating $22.3 million of operating income versus a $3.3 million operating loss a year earlier. Results were driven by $2.5 million of staking revenue and a $22.7 million unrealized gain on digital assets.
GAAP net income was $552.4 million, largely from non-cash warrant-related gains of about $5.8 billion offset by a $5.3 billion non-cash loss, which the company stresses are not reflective of recurring cash earnings. As of March 31, 2026, it held 2.15 billion SKY tokens (about 9% of supply), and by May 14, 2026 had increased holdings to roughly 2.26 billion SKY tokens after purchasing about 86.5 million additional tokens. The company also raised approximately $0.6 million by selling 398,367 common shares under its ATM program, leaving $85.7 million available.