Framework Ventures exercises 11.3M Stablecoin Development Corp (SDEV) pre-funded warrants

Rhea-AI Filing Summary

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.

Insider Trade Summary

Net Seller: 24,720 shares ($26,945)

Net Sell 3 txns

Insider Framework Ventures IV L.P., Framework Ventures Management LLC, Framework Ventures IV GP LLC, Spencer Vance, Anderson Michael Ernest

Role null | null | null | null | null

Sold 24,720 shs ($27K)

Type	Security	Shares	Price	Value
X	Pre-Funded Warrants (Right to Buy)	11,332,020	$0.00	--
X	Common Stock	11,332,020	$0.0024	$27K
Sale	Common Stock	24,720	$1.09	$27K

Holdings After Transaction: Pre-Funded Warrants (Right to Buy) — 0 shares (Direct, null); Common Stock — 22,693,236 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Warrants Exercised: 11,332,020 shares Exercise Price: $0.002385 per share Shares Withheld: 24,720 shares +2 more

5 metrics

Warrants Exercised 11,332,020 shares Pre-funded warrants exercised on June 16, 2026

Exercise Price $0.002385 per share Pre-funded warrant exercise price

Shares Withheld 24,720 shares Withheld to pay exercise price in cashless exercise

Net Shares Issued 11,307,300 shares Common shares received after withholding

Shares Held After 22,668,516 shares Total common stock directly held post-transaction

Key Terms

pre-funded warrant, cashless basis, ten percent owner, derivative security, +1 more

5 terms

pre-funded warrant financial

"the Reporting Persons exercised a pre-funded warrant to purchase 11,332,020 shares"

A pre-funded warrant is a financial instrument that gives the holder the right to buy shares of a company's stock at a set price, with most of the purchase cost already paid upfront. It functions like a nearly fully paid option, allowing investors to secure shares quickly while minimizing the amount of additional money they need to invest later. This helps investors gain ownership rights efficiently, often used to avoid certain regulatory restrictions or to prepare for future stock purchases.

cashless basis financial

"paid the exercise price on a cashless basis, resulting in the withholding of 24,720"

An agreement executed on a cashless basis lets a holder convert or exercise a security (like options, warrants, or conversion rights) without paying money upfront; instead the holder receives a smaller number of shares equal in value to what the cash would have purchased. Think of trading a coupon for fewer slices of a cake rather than handing over cash for the full slice. For investors, it affects how much ownership and dilution occur and avoids immediate cash outlays.

ten percent owner financial

"each reporting person is indicated as a ten percent owner of the issuer"

derivative security financial

"Exercise of in-the-money or at-the-money derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

open-market sale financial

"transaction_action is described as an open-market sale for the S code entry"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

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Form 4 Insider Transactions: What Each Field Means →

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^*

Framework Ventures IV L.P.

(Last) (First) (Middle)

600 MONTGOMERY STREET, FLOOR 42

(Street)

SAN FRANCISCO CALIFORNIA 94111

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Stablecoin Development Corp [ SDEV ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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

	Form filed by One Reporting Person
X	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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/15/2026		X		11,332,020	A	$0.0024	22,693,236	D
Common Stock	06/15/2026		S(1)		24,720	D	$1.09	22,668,516	D

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
Pre-Funded Warrants (Right to Buy)	$0.0024	06/15/2026		X		11,332,020		01/01/2026	(1)	Common Stock	11,332,020	$0	0	D

1. Name and Address of Reporting Person^*

Framework Ventures IV L.P.

(Last) (First) (Middle)

600 MONTGOMERY STREET, FLOOR 42

(Street)

SAN FRANCISCO CALIFORNIA 94111

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Framework Ventures Management LLC

(Last) (First) (Middle)

600 MONTGOMERY STREET, FLOOR 42

(Street)

SAN FRANCISCO CALIFORNIA 94111

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Framework Ventures IV GP LLC

(Last) (First) (Middle)

600 MONTGOMERY STREET, FLOOR 42

(Street)

SAN FRANCISCO CALIFORNIA 94111

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Spencer Vance

(Last) (First) (Middle)

600 MONTGOMERY STREET, FLOOR 42

(Street)

SAN FRANCISCO CALIFORNIA 94111

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Anderson Michael Ernest

(Last) (First) (Middle)

600 MONTGOMERY STREET, FLOOR 42

(Street)

SAN FRANCISCO CALIFORNIA 94111

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. On June 16, 2026, the Reporting Persons exercised a pre-funded warrant to purchase 11,332,020 shares of common stock for $0.002385 per share. The Reporting Persons paid the exercise price on a cashless basis, resulting in the withholding of 24,720 of the warrant shares to pay the exercise price and issuing to the Reporting Persons the remaining 11,307,300 shares.

Remarks:

Exhibit 99.1 - Joint Filing Agreement (incorporated by reference to Exhibit 99.1 for Form 4 filed with the Securities and Exchange Commission filed on October 20, 2025).

	/s/ Michael Ernest Anderson - Framework Ventures IV L.P. - Authorized Signatory	06/17/2026
	/s/ Michael Ernest Anderson - Framework Ventures Management LLC - Authorized Signatory	06/17/2026
	/s/ Michael Ernest Anderson - Framework Ventures IV GP LLC - Authorized Signatory	06/17/2026
	/s/ Vance Spencer	06/17/2026
	/s/ Michael Ernest Anderson	06/17/2026
	** 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)

FAQ

What insider activity did SDEV’s major holder report on this Form 4?

A major holder of SDEV exercised pre-funded warrants for 11,332,020 common shares. The transaction was structured as a cashless exercise, settling the small exercise cost by withholding a portion of shares rather than paying cash.

How many Stablecoin Development Corp (SDEV) shares were issued in the warrant exercise?

The reporting persons exercised warrants for 11,332,020 SDEV shares. After withholding 24,720 shares to cover the exercise price, they received 11,307,300 newly issued common shares through this cashless transaction.

Was the SDEV warrant exercise on a cash or cashless basis?

The pre-funded warrant exercise for SDEV was completed on a cashless basis. Instead of paying cash, 24,720 of the warrant shares were withheld to satisfy the exercise price obligation for the 11,332,020-share exercise.

What price was paid per share in the SDEV pre-funded warrant exercise?

The reporting persons exercised pre-funded warrants for SDEV at an exercise price of $0.002385 per share. This very low price was effectively settled through withheld shares rather than a separate cash payment.

How many SDEV shares does the reporting group hold after this Form 4 event?

After exercising the pre-funded warrants and settling the exercise price, the reporting persons directly hold 22,668,516 SDEV common shares. This figure reflects their position immediately following the reported transactions.

Did the SDEV Form 4 include any remaining pre-funded warrants after exercise?

No remaining pre-funded warrants are shown after the exercise in this SDEV filing. The derivative entry reports 11,332,020 warrant shares exercised, with the derivative position reduced to zero following the transaction.