Grayscale Stellar Lumens Trust (XLM) — fact timeline

Grayscale Stellar Lumens Trust (XLM) issued 15,000 Shares of common stock to selected accredited investors for 1,283,889.5114356 XLM representing $534,986.

“Since the sales reported on the most recently filed Current Report on Form 8-K by Grayscale Stellar Lumens Trust (XLM) (the “Trust”), the Trust issued 15,000 Shares at varying prices determined by reference to its NAV per Share to selected “accredited investors,” within the meaning of Rule 501 of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), in private placement transactions exempt from the registration requirements of the Securities Act pursuant to Rule 506(c) thereunder for an aggregate of 1,283,889.5114356 XLM representing $534,986.”

Hugh Ross departed as Chief Operating Officer at Grayscale Stellar Lumens Trust (XLM).

“Hugh Ross, the current Chief Operating Officer of Grayscale Operating, LLC, who has decided to step down from his position and is expected to remain with Grayscale to assist with the transition of his responsibilities until his departure on or prior to May 31, 2025.”

Diana Zhang was appointed as Chief Operating Officer at Grayscale Stellar Lumens Trust (XLM).

“the appointment of Diana Zhang to serve as the new Chief Operating Officer of Grayscale Operating, LLC, effective May 6, 2025.”

Edward McGee changed role as Chief Financial Officer at Grayscale Stellar Lumens Trust (XLM).

“Mr. Edward McGee, the Chief Financial Officer of Grayscale and principal financial officer of the Company, will serve as principal executive officer on an interim basis until Mr. Mintzberg's commencement date”

Peter Mintzberg was appointed as Chief Executive Officer at Grayscale Stellar Lumens Trust (XLM).

“it has approved the appointment of Peter Mintzberg to serve as Grayscale's new Chief Executive Officer and the principal executive officer of the Company, and a member of the Board of Directors of Grayscale, effective August 15, 2024”

Michael Sonnenshein departed as Chief Executive Officer at Grayscale Stellar Lumens Trust (XLM).

“who has decided to step down from his position, effective immediately”

Grayscale Stellar Lumens Trust (XLM) engaged KPMG LLP as its auditor.

“(b) Appointment of New Independent Registered Public Accounting Firm On March 1, 2024, the Audit Committee of the Board of Directors of the Sponsor approved the engagement of KPMG LLP (“KPMG”) to be the Trust’s independent registered public accounting firm to perform independent audit services for the Trust beginning with its fiscal year ending September 30, 2025.”

Grayscale Stellar Lumens Trust (XLM) dismissed Marcum LLP as its auditor.

“(a) Dismissal of Previous Independent Registered Public Accounting Firm On March 1, 2024, the Audit Committee of the Board of Directors of Grayscale Investments, LLC, the sponsor (the “Sponsor”) of Grayscale Stellar Lumens Trust (XLM) (the “Trust”), approved the dismissal of the current independent registered public accounting firm of the Trust, Marcum LLP (“Marcum”), effective following the completion of the audit of the Trust’s financial statements for the fiscal year ending September 30, 2024.”

Grayscale Stellar Lumens Trust (XLM) amended Index License Agreement Amendment with CoinDesk Indices, Inc. valued at Term extended from February 29, 2024 to February 28, 2025 (effective 2023-06-20).

“On June 20, 2023, Grayscale Investments, LLC, the sponsor (the “Sponsor”) of Grayscale Stellar Lumens Trust (XLM) (the “Trust”), and CoinDesk Indices, Inc. (the “Index Provider”), entered into an Amendment (the “Amendment”) to the Index License Agreement dated January 31, 2022, between the Sponsor and the Index Provider (the “Index License Agreement”) governing the Sponsor’s use of the CoinDesk Lumens Price Index (XLMX) (the “Index”) to calculate the Index Price, among other things. This agreement amends the terms of the Index License Agreement to extend the term of the agreement from February 29, 2024, to February 28, 2025.”