{"schema_version":"secwatch.filing_event.v1","accession":"0001829126-25-007992","form_type":"8-K","ticker":"SDEV","cik":"0001389545","company_name":"Stablecoin Development Corp","filed_at":"2025-10-09T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.286183+00:00","generated_at":"2026-05-17T04:10:10.751292+00:00","sec_items":["5.02","8.01"],"event_type":"leadership","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"CEO David Lazar resigns; R01 and Framework to buy preferred shares, gaining ~90% ownership","bullets":["CEO David Lazar resigned effective upon release of escrow funds from a securities purchase agreement.","Lazar agreed to sell 441,325 Series D Preferred shares and rights to 268,750 Series E shares to R01 Fund LP and Framework Ventures IV L.P.","Purchasers expected to own ~90% of outstanding common stock after stockholder approval of proposals at the Oct 16 annual meeting.","Transaction is contingent on stockholder approval of proposals 5 and 9 at the October 16, 2025 annual meeting.","Company agreed to perform its obligations under the August 2025 Securities Purchase Agreement for the benefit of the purchasers."],"urls":{"canonical":"https://secwatch.observer/filing/0001829126-25-007992","json":"https://secwatch.observer/filing/0001829126-25-007992.json","markdown":"https://secwatch.observer/filing/0001829126-25-007992.md","text":"https://secwatch.observer/filing/0001829126-25-007992.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1389545/000182912625007992/0001829126-25-007992-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1389545/000182912625007992/novabay_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T04:10:10.751292+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}