Stablecoin Development (NBY) director awarded 140,000 restricted stock units

Rhea-AI Filing Summary

Sit Swan reported acquisition or exercise transactions in this Form 4 filing.

Stablecoin Development Corp director Sit Swan received a grant of 140,000 restricted stock units. Each unit represents a contingent right to receive one share of common stock. All 140,000 units were reported as directly held after the grant.

The restricted stock units will vest in three equal installments: one-third on February 16, 2027, one-third on January 16, 2028, and the final one-third on January 16, 2029. This is a compensation-related equity award rather than an open-market stock purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Sit Swan

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	140,000	$0.00	--

Holdings After Transaction: Restricted Stock Units — 140,000 shares (Direct)

Footnotes (1)

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Key Figures

RSUs granted: 140,000 units Underlying shares: 140,000 shares Post-grant holdings: 140,000 units +3 more

6 metrics

RSUs granted 140,000 units Restricted stock units granted to director Sit Swan

Underlying shares 140,000 shares Each unit represents one share of common stock

Post-grant holdings 140,000 units Restricted stock units directly held after the award

First vesting date February 16, 2027 One-third of RSUs vest

Second vesting date January 16, 2028 Second one-third of RSUs vest

Final vesting date January 16, 2029 Final one-third of RSUs vest

Key Terms

Restricted Stock Units, contingent right, vest, installments

4 terms

Restricted Stock Units financial

"Each restricted stock unit represents a contingent right to receive one share"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

contingent right financial

"represents a contingent right to receive one share of the issuer's common stock"

vest financial

"The restricted stock units will vest in equal one-third installments"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

installments financial

"will vest in equal one-third installments, with the first installment vesting"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sit Swan

(Last) (First) (Middle)

C/O NOVABAY PHARMACEUTICALS, INC.

2000 POWELL STREET, SUITE 1150

(Street)

EMERYVILLE CALIFORNIA 94608

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Stablecoin Development Corp [ SDEV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	03/31/2026		A		140,000		(1)	(1)	Common Stock	140,000	$0	140,000	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock. The restricted stock units will vest in equal one-third installments, with the first installment vesting on February 16, 2027, the second installment vesting on January 16, 2028, and the third installment vesting on January 16, 2029.

Remarks:

Exhibit 24 – Power of Attorney

	/s/ Tommy Law as attorney in fact for Swan Sit	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction was reported for NBY on this Form 4?

The filing reports a grant of 140,000 restricted stock units to director Sit Swan. These units are a form of equity compensation, giving a contingent right to receive common shares as they vest over several years.

How many shares did Sit Swan acquire in the NBY-related award?

Sit Swan was granted 140,000 restricted stock units, each representing a right to one share of common stock. All 140,000 units were reported as directly held following the transaction, reflecting a compensation grant rather than an open-market purchase.

Is the Sit Swan Form 4 transaction for NBY a stock purchase or a grant?

The transaction is a grant of restricted stock units, not an open-market stock purchase. The award was coded as an acquisition under a grant or award, providing future shares as vesting conditions are met over time.

When do Sit Swan’s restricted stock units related to NBY vest?

The restricted stock units vest in three equal installments. One-third vests on February 16, 2027, the next third on January 16, 2028, and the final third on January 16, 2029, subject to the award’s standard conditions.

What does each restricted stock unit in the NBY filing represent?

Each restricted stock unit represents a contingent right to receive one share of the issuer’s common stock. Actual shares are delivered only as the units vest on the specified future dates under the terms of the award.