---
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"
generated_at: "2026-05-17T04:10:10.751292+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# CEO David Lazar resigns; R01 and Framework to buy preferred shares, gaining ~90% ownership

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: leadership
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02, 8.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-25-007992
- JSON: https://secwatch.observer/filing/0001829126-25-007992.json
- Plain text: https://secwatch.observer/filing/0001829126-25-007992.txt

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