Han Fei 4

What Happened
Han Fei, Chief Financial Officer of DeFi Development Corp. (DFDV), had 2,802 shares of common stock withheld to satisfy tax withholding obligations related to the vesting of restricted stock units. The withholding was recorded at $4.78 per share for a total value of $13,394. This was a tax-withholding disposal (routine), not an open-market sale.

Key Details

• Transaction date: 2026-05-17; Form 4 filed: 2026-05-18 (timely filing).
• Price per share: $4.78; Shares withheld/disposed: 2,802; Total value: $13,394.
• Transaction code: F (shares withheld to cover tax liability on vested awards).
• Shares owned after the transaction: not specified in the filing.
• Footnotes: F1 — shares withheld to pay taxes due on RSU vesting; F2 — Han is a member of Defi Dev LLC and the securities are voted by Parker White as manager of Defi Dev LLC.

Context
Withholding shares to cover taxes is a common administrative step when restricted stock units vest and generally does not indicate a discretionary insider sale or change in sentiment. The filing shows the shares were withheld for tax purposes (cashless/tax withholding), not sold in the open market. The footnote about voting (F2) clarifies who votes the securities held through the LLC structure.