Daniel Kang - 27 Oct 2025 Form 4 Insider Report for DeFi Development Corp. (DFDV)

Role: Chief Strategy Officer
Signature: /s/ Bruce S. Rosenbloom, Attorney-in-Fact
Issuer symbol: DFDV
Transactions as of: 27 Oct 2025
Net transactions value: +$28,980
Form type: 4
Filing time: 25 Nov 2025, 21:13:40 UTC
Previous filing: 23 Sep 2025
Next filing: 19 Dec 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Kang Daniel	Chief Strategy Officer	C/O DEFI DEVELOPMENT CORP., 6401 CONGRESS AVENUE, SUITE 250, BOCA RATON	/s/ Bruce S. Rosenbloom, Attorney-in-Fact	25 Nov 2025	0002087925

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DFDV	Common Stock	Other	$0	+2,981		$0.000000	2,981	21 Nov 2025	Direct	F1
transaction	DFDV	Common Stock	Purchase	$28,980	+4,200	+141%	$6.90	7,181	25 Nov 2025	Direct
transaction	DFDV	Common Stock	Other	$0	-2,981	-6%	$0.000000	46,852	21 Nov 2025	By Defi Dev LLC	F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	DFDV	Warrant (Right to buy)	Other	$0	+4,983		$0.000000	4,983	21 Nov 2025	Common Stock	4,983	$22.50	Direct	F1
transaction	DFDV	Warrant (Right to buy)	Other	$0	+4,983		$0.000000	4,983	27 Oct 2025	Common Stock	4,983	$22.50	By Defi Dev LLC	F3, F4
transaction	DFDV	Warrant (Right to buy)	Other	$0	-4,983	-100%	$0.000000	0	21 Nov 2025	Common Stock	4,983	$22.50	By Defi Dev LLC	F1, F3
holding	DFDV	Stock Option (Right to buy)						122,500	27 Oct 2025	Common Stock	122,500	$3.91	Direct	F5, F6
holding	DFDV	Stock Option (Right to buy)						57,500	27 Oct 2025	Common Stock	57,500	$16.93	Direct	F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents a pro rata distribution from Defi Dev LLC of which the reporting person is a member.
F2	The amount shown reflects a correction of 67.17 shares of common stock inadvertently over reported on the reporting person's Form 3 filed on September 23, 2025.
F3	Mr. Kang is a member of Defi Dev LLC, a manager-managed limited liability company. The securities herein are voted by Parker White serving as manager of Defi Dev LLC.
F4	On October 8, 2025, DFDV declared a warrant dividend of warrants to purchase common stock in the amount of 1 warrant for each 10 shares of common stock held by each shareholder of record on October 23, 2025. The warrants were distributed on or around October 27, 2025. As a result, the reporting person received 4,983 warrants to purchase DFDV common stock.
F5	Reflects a 7-for-1 forward stock split effective on May 21, 2025.
F6	The date shown is the first date exercisable. One-fourth (1/4th) of the total number of shares subject to the Option shall vest on the first anniversary of the grant date, and thereafter one-thirty-sixth (1/36th) shall vest on the same date of the month applicable to the first vesting date on each of the thirty-six (36) months that occur after the date shown, such that 100% of the shares subject to the Option will be vested on the four (4) year anniversary of the grant date, subject to the reporting person's continued service through each applicable vesting date.