Framework Ventures Management LLC 4/A

4/A · Stablecoin Development Corp · Filed Apr 30, 2026

AI-generated summary of this filing

Updated May 1, 2026

Stablecoin Development (SDEV) 10% Owner Acquires 11.36M & 11.33M Shares

What Happened

Framework Ventures IV L.P., a reported 10% owner of Stablecoin Development Corp (SDEV), acquired shares via two derivative-related transactions in October 2025: a conversion of a derivative security for 11,361,216 post‑split shares (10/21/2025) and recognition of 11,332,020 shares issued/issuable from pre‑funded warrants (10/16/2025). Both transactions show $0.00 per share (no cash paid).
Combined post‑reverse‑split, these positions total 22,693,236 shares (11,361,216 + 11,332,020). The filing is an amendment reflecting a 1‑for‑5 reverse stock split and anti‑dilution adjustments to the pre‑funded warrants.

Key Details

Transaction dates and codes: 10/16/2025 (P — purchase/derivative: 11,332,020 shares at $0.00); 10/21/2025 (C — conversion of derivative: 11,361,216 shares at $0.00).
Shares owned/issuable after these adjustments: 11,361,216 (converted) + 11,332,020 (pre‑funded warrants exercisable) = 22,693,236 total, on a post‑reverse‑split basis.
Important footnotes: F1 = numbers adjusted for a 1‑for‑5 reverse stock split effective Feb 20, 2026; F2 = anti‑dilution adjustments increased the pre‑funded warrant amount; F3 = the pre‑funded warrants have no expiration and are exercisable at any time.
Filing status: This is an amended Form 4 filed Apr 30, 2026 covering transactions from Oct 16–21, 2025 — the amendment updates ownership post‑split and for warrant adjustments (i.e., the filing was amended/late).

Context

These were derivative conversions and warrant-related acquisitions (not open-market cash purchases). Pre‑funded warrants commonly show $0 exercise consideration on the Form 4 when they were issued or adjusted pursuant to prior agreements.
As a 10% institutional owner, Framework Ventures IV L.P.’s transactions reflect contractual and anti‑dilution mechanics rather than a routine executive buy/sell; do not read share issuance mechanics as a conventional open‑market bullish/sell signal.

Form 4/AAmended

Period: 2025-10-16

10% Owner

Transactions

Conversion
Common Stock
[F1]
2025-10-21+11,361,216→ 11,361,216 total
Purchase
Pre-Funded Warrants (Right to Buy)
[F2][F3]
2025-10-16+11,332,020→ 11,332,020 total
Exercise: $0.01From: 2026-01-01→ Common Stock (11,332,020 underlying)

Footnotes (3)

[F1]This amendment updates the beneficial ownership of the Reporting Persons to reflect the Issuer's 1-for-5 reverse stock split (the "Reverse Stock Split") that became effective on February 20, 2026, pursuant to which the number of shares of Common Stock held by the Reporting Persons was adjusted from 56,806,080 to 11,361,216.
[F2]This amendment updates the beneficial ownership of the Reporting Persons to reflect anti-dilution adjustments under the pre-funded warrants issued by the Issuer to Framework Ventures IV L.P. and other investors on October 16, 2025 (the "Pre-Funded Warrants"). As a result of dilutive issuances of the Issuer's Common Stock during the fourth quarter of 2025, the anti-dilution adjustments of the Pre-Funded Warrants increased the Reporting Person's aggregate number of shares of Common Stock issuable upon exercise of the Pre-Funded Warrants to 56,660,098 on a pre-Reverse Stock Split basis, which was adjusted to 11,332,020 on a post-Reverse Stock Split basis.
[F3]The Pre-Funded Warrants have no expiration date and are exercisable for shares of Common Stock at any time.

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