Han Fei 4

What Happened
Han Fei, Chief Financial Officer of DeFi Development Corp. (DFDV), received an award of 374,922 restricted stock units (RSUs) on February 17, 2026. The Form 4 reports the grant with a transaction price of $0.00 (typical for RSU grants); no immediate cash transaction occurred. This is a grant/award (code A), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-02-17; Form 4 filed: 2026-02-19 (filed timely).
• Shares/units granted: 374,922 RSUs; reported acquisition price: $0.00.
• Vesting: 1/48th of the RSUs vest monthly following the grant date; 100% vests on the four‑year anniversary, subject to continued service (Footnote F1).
• Voting/control note: Mr. Han is a member of Defi Dev LLC; the securities are voted by Parker White as manager of Defi Dev LLC (Footnote F2).
• Shares owned after the transaction: not specified in the provided filing details.
• Transaction type code: A = Award/Grant (RSUs).

Context
RSU grants are common executive compensation that vest over time and do not represent an immediate sale or purchase; they vest gradually (monthly here) and typically convert to ordinary shares when vested. Because voting of these securities is handled by the LLC’s manager per the filing, any shareholder voting related to these units is delegated to that manager until applicable conversion/vesting.