{"url_path":"/sec/usde/8-k/2026-07-02/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-02","source_url":"https://www.sec.gov/Archives/edgar/data/2080215/0001213900-26-074559-index.html","accession_number":"0001213900-26-074559","cik":"0002080215","ticker":"USDE","issuer_name":"StableCoinX Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/2080215/0001213900-26-074559-index.html","primary_entity_key":"0002080215","primary_entity_name":"StableCoinX Inc."},"word_count":692,"has_tables":true,"body_markdown":"Item\n5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of\nCertain Officers.\n\n \n\nBoard\nof Directors\n\n \n\nUpon\nthe Closing, the StablecoinX Board consisted of five directors, including one director designated by Ethena and one director designated\nby SC Assets. The StablecoinX directors are Edward Chen, Marc Piano, John Griffiths, Alkesh Shah and Thomas Tarala. Marc Piano is the\ndesignee of Ethena and Edward Chen is the designee of SC Assets and also serves as Chief Executive Officer and Chairman.\n\n \n\nUpon\nthe Closing, StablecoinX’s audit committee consisted of John Griffiths, Alkesh Shah and Thomas Tarala with Mr. Shah serving as\nchair of the committee. The Board determined that each member of the Audit Committee qualifies as an independent director under the independence\nrequirements of the Sarbanes-Oxley Act of 2002, as amended, Rule 10A-3 under the Securities Exchange Act of 1934, as amended (the “Exchange\nAct”), and the applicable NYSE listing requirements and that Mr. Tarala qualifies as an “audit committee financial expert,”\nas defined in Item 407(d)(5) of Regulation S-K, and which member or members possess financial sophistication, as defined under the rules\nof Nasdaq.\n\n \n\nUpon\nthe Closing, StablecoinX’s compensation committee consisted of John Griffiths, Alkesh Shah and Thomas Tarala with Mr. Griffiths\nserving as chair of the committee. The Board determined that each member of the compensation committee is “independent” as\ndefined under the applicable Nasdaq requirements and U.S. Securities and Exchange SEC rules and regulations.\n\n \n\nUpon\nthe Closing, StablecoinX’s nominating and corporate governance committee consisted of John Griffiths, Alkesh Shah and Thomas Tarala\nwith Mr. Tarala serving as chair of the committee. The Board determined that each member of the nominating and corporate governance committee\nis “independent” as defined under the applicable Nasdaq requirements and SEC rules and regulations.\n\n \n\nUpon the Closing, StablecoinX’s investment committee consisted\nof Edward Chen, Marc Piano and Alkesh Shah with Mr. Chen serving as chair of the committee. The Board determined that each member of the\nnominating and corporate governance committee is “independent” as defined under the applicable Nasdaq requirements and SEC\nrules and regulations.\n\n \n\n24\n\n \n\n \n\nExecutive\nOfficers\n\n \n\nUpon\nClosing, the following individuals were appointed to serve as executive officers of the Company:\n\n \n\n**Name**\n** **\n**Position**\n\nEdward Chen\n \nChief Executive Officer\n\nYoung Cho\n \nChief Financial Officer\n\nAhmed J. Aly\n \nChief Technology Officer\n\n \n\nBiographical\nInformation\n\n \n\nReference\nis made to the section of the Proxy Statement/Prospectus entitled “*About SC Assets—Human Capital—Directors and Executive\nOfficers,”*beginning on page 206 of the Proxy Statement/Prospectus, which is incorporated herein by reference.\n\n \n\nStablecoinX\nInc. 2026 Stock Incentive Plan\n\n** **\n\nAs\npreviously disclosed, StablecoinX’s Board and shareholders adopted the StablecoinX Inc. 2026 Stock Incentive Plan (the “Equity\nIncentive Plan”) prior to the Closing, which became effective on June 25, 2026. A description of the Equity Incentive Plan is included\nin the Proxy Statement/Prospectus in the sections entitled “*Summary of the Material Terms of the Incentive Plan*” on\npage 242 thereof, which is incorporated by reference herein.\n\n \n\nStablecoinX\nhas reserved a total of 1,802,203 shares of StablecoinX Class A Common Stock for issuance pursuant to the Equity Incentive Plan (all\nof which may be issued pursuant to the exercise of incentive stock options), subject to certain adjustments set forth in the Equity Incentive\nPlan.\n\n \n\n*The\nforegoing description of the Equity Incentive Plan and the information incorporated by reference does not purport to be complete and\nis qualified in its entirety by the terms and conditions of the Equity Incentive Plan, which is attached as Exhibit 10.10 hereto, and\nis incorporated herein by reference.*\n\n* *\n\nCFO\nRestricted Stock Unit Award Agreement\n\n** **\n\nOn\nJune 25, 2026, the Company granted Young Cho a restricted stock unit award which provides for an initial equity award of 60,799 restricted\nstock units (“RSUs”) which vests six months following the Closing Date, or December 25, 2026, subject to Mr. Cho’s\ncontinued employment (the “Initial Equity Award”). In the event that Mr. Cho ceases to be an employee, officer, or director\nof, or consultant or advisor to, StablecoinX for any reason, any portion of the Initial Equity Award that has not vested will immediately\nterminate and all unvested RSUs shall immediately be forfeited without payment of any further consideration."}