Kazley Michael John 4/A
4/A · Stablecoin Development Corp · Filed Apr 30, 2026
Research Summary
AI-generated summary of this filing
Stablecoin Development (SDEV) CEO Kazley Converts Warrants to 11.36M Shares
What Happened
- Kazley Michael John, CEO of Stablecoin Development Corp (SDEV), reported conversion of derivative securities into common stock and an earlier acquisition of pre‑funded warrants. On 2025-10-21 he converted a derivative into 11,361,216 shares of common stock at $0.00 per share. On 2025-10-16 he acquired pre‑funded warrants/derivative rights covering 11,332,020 shares (reported at $0.00).
- Both transactions show $0 per share and $0 total value because they reflect conversion/exercise of pre‑funded warrants (no cash exercise price).
Key Details
- Transaction dates and types:
- 2025-10-16: Purchase/acquisition of pre‑funded warrants (derivative) — 11,332,020 shares (P) @ $0.00.
- 2025-10-21: Conversion of derivative security into common stock — 11,361,216 shares (C) @ $0.00.
- Shares owned after reported activity: the amended filing reports beneficial ownership of 11,361,216 shares (post 1‑for‑5 reverse stock split adjustment).
- Footnotes / notable items:
- Amendment updates reflect a 1‑for‑5 reverse stock split effective Feb 20, 2026 (prior holdings 56,806,080 adjusted to 11,361,216).
- Anti‑dilution adjustments to the pre‑funded warrants increased issuable shares (pre‑split 56,660,098 → post‑split 11,332,020).
- Pre‑funded warrants have no expiration and are exercisable at any time.
- Reported holdings may also be attributable to R01 entities (R01 LP, R01 Capital, R01 Capital Manager); those entities disclaim beneficial ownership except for any pecuniary interest.
- Filing status: This is an amended Form 4 filed 2026-04-30 for transactions dated Oct 16–21, 2025 — the amendment updates ownership figures and is later than the transaction dates.
Context
- These entries are derivative conversions/exercises (pre‑funded warrants converting to common stock) rather than cash purchases or market sales; $0 reporting is typical for pre‑funded warrants with nominal or zero exercise price.
- For retail investors, conversions of warrants into shares increase share count but do not necessarily signal a cash investment or resale; the filing is informational and reflects ownership adjustments and corporate actions (anti‑dilution and reverse split).
Insider Transaction Report
Form 4/AAmended
Kazley Michael John
DirectorChief Executive Officer10% Owner
Transactions
- Conversion
Common Stock
[F1][F2]2025-10-21+11,361,216→ 11,361,216 total(indirect: By R01 Entities) - Purchase
Pre-Funded Warrants (Right to Buy)
[F3][F4][F2]2025-10-16+11,332,020→ 11,332,020 total(indirect: By R01 Entities)Exercise: $0.01From: 2026-01-01→ Common Stock (11,332,020 underlying)
Footnotes (4)
- [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]The reported securities may also be deemed to be beneficially owned by R01 Fund LP ("R01 LP"), R01 Capital LLC ("R01 Capital") and R01 Capital Manager LLC ("R01 Capital Manager" and together with R01 LP, R01 Capital and the Reporting Person, the "R01 Entities"), each of which or whom disclaim beneficial ownership of these shares, except to the extent of its or his pecuniary interest in such shares, if any. R01 Capital is the general partner of R01 LP. R01 Capital Manager is the investment manager for R01 Capital. The Reporting Person is the managing member of R01 Capital Manager.
- [F3]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 R01 LP 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..
- [F4]The Pre-Funded Warrants have no expiration date and are exercisable for shares of Common Stock at any time.
Signature
/s/ Michael Kazley|2026-04-30