Kang Daniel 4

4 · DeFi Development Corp. · Filed Nov 25, 2025

Form 4

Period: 2025-10-27

Chief Strategy Officer

Transactions

Other
Common Stock
2025-11-21+2,981→ 2,981 total
Purchase
Common Stock
2025-11-25$6.90/sh+4,200$28,980→ 7,181 total
Other
Warrant (Right to buy)
2025-11-21+4,983→ 4,983 total
Exercise: $22.50From: 2025-11-16Exp: 2028-01-01→ Common Stock (4,983 underlying)
Other
Common Stock
2025-11-21−2,981→ 46,852 total(indirect: By LLC)
Other
Warrant (Right to buy)
2025-10-27+4,983→ 4,983 total(indirect: By LLC)
Exercise: $22.50From: 2025-11-16Exp: 2028-01-21→ Common Stock (4,983 underlying)
Other
Warrant (Right to buy)
2025-11-21−4,983→ 0 total(indirect: By LLC)
Exercise: $22.50From: 2025-11-16Exp: 2028-01-21→ Common Stock (4,983 underlying)

Holdings

Stock Option (Right to buy)
Exercise: $16.93From: 2026-09-19Exp: 2035-09-19→ Common Stock (57,500 underlying)
57,500
Stock Option (Right to buy)
Exercise: $3.91From: 2026-04-09Exp: 2035-04-09→ Common Stock (122,500 underlying)
122,500

Footnotes (6)

[F1]Represents a pro rata distribution from Defi Dev LLC of which the reporting person is a member.
[F2]The amount shown reflects a correction of 67.17 shares of common stock inadvertently over reported on the reporting person's Form 3 filed on September 23, 2025.
[F3]Mr. Kang is a member of Defi Dev LLC, a manager-managed limited liability company. The securities herein are voted by Parker White serving as manager of Defi Dev LLC.
[F4]On October 8, 2025, DFDV declared a warrant dividend of warrants to purchase common stock in the amount of 1 warrant for each 10 shares of common stock held by each shareholder of record on October 23, 2025. The warrants were distributed on or around October 27, 2025. As a result, the reporting person received 4,983 warrants to purchase DFDV common stock.
[F5]Reflects a 7-for-1 forward stock split effective on May 21, 2025.
[F6]The date shown is the first date exercisable. One-fourth (1/4th) of the total number of shares subject to the Option shall vest on the first anniversary of the grant date, and thereafter one-thirty-sixth (1/36th) shall vest on the same date of the month applicable to the first vesting date on each of the thirty-six (36) months that occur after the date shown, such that 100% of the shares subject to the Option will be vested on the four (4) year anniversary of the grant date, subject to the reporting person's continued service through each applicable vesting date.

Documents

1 file