R01 Capital LLC 4

What Happened

• R01 Fund LP, a 10% reporting owner of Stablecoin Development Corp (SDEV), exercised a pre-funded warrant on 2026-06-15 to acquire 11,332,020 shares. The exercise was completed on a cashless basis (exercise price $0.002385/share), resulting in 24,720 shares being withheld to cover the exercise cost and a net issuance of 11,307,300 shares to the Reporting Persons.
• The filing also reports a sale (open market/private sale) of 24,720 shares at $1.09 per share for proceeds of $26,945. The Form 4 was filed 2026-06-17 for the 2026-06-15 transactions.

Key Details

• Transaction date: June 15, 2026.
• Exercise: pre-funded warrant for 11,332,020 shares; exercise price $0.002385 per share; net shares issued to reporting persons = 11,307,300 (24,720 shares withheld).
• Sale: 24,720 shares disposed at $1.09/share for $26,945.
• Footnote: Cashless exercise — 24,720 shares were withheld to pay the exercise price (see Exhibit 99.1 Joint Filing Agreement referenced).
• Filing timeliness: Reported within the typical Form 4 window (filed 6/17 for 6/15 transactions).
• Reporter type: 10% owner (institutional), not an officer or director — institutional insider activity.

Context

• This was an exercise of a pre-funded warrant (a derivative), completed cashlessly: the holder exercised the warrant and had a small number of shares withheld/sold to cover the exercise cost, receiving the large majority of shares. Sales by reporting persons to cover exercise/tax obligations or withholding are common and do not, by themselves, indicate a change in insider sentiment.