Stablecoin Development Corp (SDEV) details COO Blynn's 1.4M RSU grant
Rhea-AI Filing Summary
Stablecoin Development Corp reports initial insider holdings for new Chief Operating Officer Henry Blynn. Blynn holds 1,400,000 time-based restricted stock units (RSUs) granted on April 1, 2026 under the 2026 Equity Incentive Plan, each RSU representing one common share. The RSUs vest in three equal annual installments on February 16, 2027, 2028 and 2029, subject to his continued service. Blynn became a Section 16 reporting person on July 15, 2026, when he was appointed COO.
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Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Blynn Henry
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Units F1 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 1,400,000 shares (Direct)
Footnotes (1)
- F1. On April 1, 2026, the Board of Directors of Stablecoin Development Corporation (f/k/a NovaBay Pharmaceuticals, Inc.) approved a grant to Henry Blynn of 1,400,000 time-based restricted stock units ("RSUs") under the NovaBay Pharmaceuticals, Inc. 2026 Equity Incentive Plan (the "2026 Plan"). Each RSU represents a contingent right to receive one share of common stock of the Issuer. The RSUs vest in equal one-third installments, with the first installment vesting on February 16, 2027, the second installment vesting on February 16, 2028, and the third installment vesting on February 16, 2029, in each case subject to Mr. Blynn's continued service with the Issuer. The RSUs were granted prior to Mr. Blynn becoming a Section 16 reporting person on July 15, 2026 (the date of his appointment as Chief Operating Officer).
Key Figures
Restricted stock units granted: 1,400,000 RSUs
Underlying common shares: 1,400,000 shares
Vesting dates: February 16, 2027; February 16, 2028; February 16, 2029
+1 more
4 metrics
Restricted stock units granted
1,400,000 RSUs
Time-based RSUs granted to COO Henry Blynn on April 1, 2026 under the 2026 Plan
Underlying common shares
1,400,000 shares
Each RSU represents a contingent right to receive one share of common stock
Vesting dates
February 16, 2027; February 16, 2028; February 16, 2029
RSUs vest in three equal one-third installments on these dates
Exercise price
$0.0000
Exercise price shown for the RSU-derived common stock position
Key Terms
Restricted Stock Units, Section 16 reporting person, Equity Incentive Plan
3 terms
Restricted Stock Units financial
"grant to Henry Blynn of 1,400,000 time-based restricted stock units ("RSUs")"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Section 16 reporting person regulatory
"prior to Mr. Blynn becoming a Section 16 reporting person on July 15, 2026"
Equity Incentive Plan financial
"under the NovaBay Pharmaceuticals, Inc. 2026 Equity Incentive Plan (the "2026 Plan")"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider equity does SDEV COO Henry Blynn report on this Form 3?
He reports 1,400,000 time-based RSUs, each representing one share of common stock. The grant was approved on April 1, 2026 under the 2026 Equity Incentive Plan and vests in three equal installments on February 16, 2027, 2028 and 2029, respectively.
When do SDEV COO Henry Blynn's RSUs vest?
The 1,400,000 RSUs vest in three equal one-third installments. The first tranche vests on February 16, 2027, the second on February 16, 2028, and the third on February 16, 2029, in each case subject to Blynn’s continued service with the issuer.
Under which plan were SDEV COO Henry Blynn's RSUs granted?
Blynn’s 1,400,000 RSUs were granted under the NovaBay Pharmaceuticals, Inc. 2026 Equity Incentive Plan, referred to as the 2026 Plan. Stablecoin Development Corporation is described as formerly known as NovaBay Pharmaceuticals, Inc. in the disclosure.
When did Henry Blynn become a Section 16 reporting person for SDEV?
He became a Section 16 reporting person on July 15, 2026, the date of his appointment as Chief Operating Officer of the issuer. The RSUs were granted earlier, on April 1, 2026, before he assumed Section 16 status.
What does each RSU reported by SDEV's COO represent?
Each RSU represents a contingent right to receive one share of the issuer’s common stock. Delivery of these shares depends on vesting, which occurs in three equal installments from 2027 through 2029, and on Blynn’s continued service with the company.