Kazley Michael John 4/A

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).