Han Fei 4

What Happened
Han Fei, Chief Financial Officer of DeFi Development Corp. (DFDV), received a grant/award of derivative securities on March 31, 2026: 13,568 share-equivalent options listed with a transaction price of $0.00. The award is described in the filing as an adjustment to outstanding equity awards related to a warrant dividend distributed October 27, 2025, and the options are fully vested and exercisable on the date of grant.

Key Details

• Transaction date: 2026-03-31; Form 4 filed 2026-04-02 (timely within the standard 2 business days).
• Transaction type/code: A — Grant/award of derivative securities (options). Price shown: $0.00 in the filing.
• Amount: 13,568 share-equivalent options awarded.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 — Award granted as adjustment tied to warrant dividend (10/27/2025). F2 — Option is fully vested and exercisable on grant date.
• Filing accession: 0001225208-26-004183; Period of report: 2026-03-31.

Context
This was an equity award/adjustment, not an open-market purchase or sale. Derivative grants (options) can be part of routine compensation or capital-structure adjustments and do not by themselves indicate the insider buying or selling stock. Because the options are fully vested and exercisable immediately, the CFO could potentially exercise them according to the award terms (see the full Form 4 or company disclosures for exercise price and other terms).