---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-010902"
form_type: "8-K"
ticker: "SDEV"
cik: "0001389545"
company_name: "Stablecoin Development Corp"
filed_at: "2026-04-01T23:59:59+00:00"
generated_at: "2026-05-15T07:57:31.485262+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# NovaBay shareholders approve 2026 equity plan; CEO gets ~19.6M RSUs/PSUs; name change to Stablecoin Development Corp

## Summary
- Stockholders approved 2026 Equity Incentive Plan on March 12, 2026, authorizing 22,223,927 initial shares plus annual increases.
- CEO Michael Kazley granted 4,118,828 RSUs (cliff vest Feb 2027) and 15,445,603 PSUs (five-year performance hurdles).
- CFO Tommy Law granted 300,000 RSUs vesting in three equal installments through Jan 2029.
- Company to change legal name to 'Stablecoin Development Corporation' effective April 2, 2026, ticker to SDEV.
- New employment agreements for CEO (no salary until Jan 2027, then $200K) and CFO ($200K salary, target bonus 50%).

## SEC filing metadata
- accession: 0001437749-26-010902
- form_type: 8-K
- ticker: SDEV
- cik: 0001389545
- company_name: Stablecoin Development Corp
- filed_at: 2026-04-01T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389545/000143774926010902/0001437749-26-010902-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389545/000143774926010902/nby20260401_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-010902
- JSON: https://secwatch.observer/filing/0001437749-26-010902.json
- Plain text: https://secwatch.observer/filing/0001437749-26-010902.txt

## Source-grounded claims
- claim_id: 5a459b079a6b79593bd1df14ff3999d3d792ed5a
  claim: Stablecoin Development Corp: Amended and restated bylaws solely to reflect the corporate name change, effective April 2, 2026 (effective 2026-04-02).
  evidence_excerpt: The Board also approved an amendment and restatement of the Company’s bylaws (the “Amended and Restated Bylaws”), solely to reflect the Name Change. The Amended and Restated Bylaws will also become effective as of April 2, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1389545/000143774926010902/0001437749-26-010902-index.htm
- claim_id: bdb4af7c42243e91a24eafb8050c62ebe4ebe202
  claim: Stablecoin Development Corp: Amended certificate of incorporation to change corporate legal name from NovaBay Pharmaceuticals, Inc. to Stablecoin Development Corporation, effective April 2, 2026 (effective 2026-04-02).
  evidence_excerpt: On March 17, 2026, the Board approved an amendment to the Company’s Second Amended and Restated Certificate of Incorporation (the “Certificate of Amendment”) changing the Company’s corporate legal name from “NovaBay Pharmaceuticals, Inc.” to “Stablecoin Development Corporation” (the “Name Change”), to be effective as of April 2, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1389545/000143774926010902/0001437749-26-010902-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.