Business Context and Reporting Period
Company: DeFi Development Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: September 15, 2026
Event: Declaration of cash dividends on Variable Rate Series C Perpetual Preferred Stock ("CHAD Stock").
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on dividend declarations for the CHAD Stock.
- Dividend Rate: 13.00% per annum.
- Initial Dividend: $0.07944 per share for the period September 8, 2026, to October 1, 2026.
- Daily Dividend: $0.00516 per share for each business day from October 1, 2026, through October 30, 2026 (21 business days).
- Earnings and Profits (E&P): The Company states it has no accumulated E&P and does not expect to generate current E&P in the current year or foreseeable future.
Material Changes
The filing announces the commencement of dividend payments on the CHAD Stock following its issuance on September 8, 2026. No comparative financial data or material changes to operating results are provided in this report.
Outlook, Risks, and Tax Considerations
Tax Treatment: Due to the lack of accumulated or current earnings and profits, distributions are expected to be treated as a tax-free return of capital (ROC) to the extent of a U.S. holder's adjusted tax basis, followed by capital gain. Non-U.S. holders generally will not be subject to U.S. federal income or withholding tax on such distributions.
Risks: There is no assurance that the Company will have sufficient E&P to cause distributions to be treated as dividends. The Company explicitly states it does not expect to generate E&P in the foreseeable future.
Investor Verification Checklist
- Verify the number of CHAD shares held to calculate total dividend entitlement.
- Confirm the adjusted tax basis of CHAD holdings to determine the tax treatment (ROC vs. capital gain) of the distributions.
- Review the prospectus supplement dated August 31, 2026, for detailed tax considerations for non-U.S. holders.
- Monitor future filings for any changes in the Company's earnings and profits status, which could alter the tax classification of future distributions.