Grayscale Stellar Lumens Trust: reports unregistered sale of 73,400 shares

What happened The filing reported that, since the Trust's most recently filed Form 8-K, the Trust issued 73,400 Shares at varying prices determined by reference to its NAV per Share to selected "accredited investors" in private placement transactions exempt from registration under Rule 506(c) of the Securities Act for an aggregate of 6,064,661.2224970 XLM representing $1,136,743. Grayscale Securities, LLC acted as the Authorized Participant with respect to these distributions. As of Oct 15, 2026, there are 1,462,600 Shares issued and outstanding. The filing states that because Shares have been, and continue to be, created and issued on a periodic basis, a "distribution" may be occurring from time to time, and Grayscale Securities may be deemed an "underwriter" under Section 2(a)(11) of the Securities Act. No underwriting discounts or commissions were paid to Grayscale Securities with respect to such sales.

Key details

• 73,400 Shares issued in private placements under Rule 506(c).
• Aggregate of 6,064,661.2224970 XLM representing $1,136,743.
• Grayscale Securities, LLC acted as Authorized Participant and may be deemed an "underwriter" under Section 2(a)(11).
• 1,462,600 Shares issued and outstanding as of Oct 15, 2026.

Why it may matter This filing reports Item 3.02: unregistered sales of equity securities, which covers sales of Shares exempt from registration under the Securities Act. The filing does not show why the insider traded or why the company acted.