Today, the Bulgarian Orthodox Church commemorates Saint Stephen, the holy protomartyr and archdeacon who became the first Christian to sacrifice his life for the faith. This marks the third day after Christmas and the final holiday in the Christmas cycle, symbolically closing the year before welcoming the New Year.

The name Stephen is derived from the ancient Greek word for "wreath," making this day special for those named Stefan, Stefka, and their many variations, including Stefi, Stefko, Steven, Stefania, Stefani, Stamen, Stanimir, Stanislav, Stanchi, and Svetlin. Others celebrating include Stoyan, Stoyanka, Stoyko, Tsanka, Tsonyo, Tsonko, Zaprin, Zapryan, Stoil, and Stoilka. Additionally, Venko, Veneta, Vencho, Ventsislav, and their derivatives join in the celebrations due to the shared meaning of "wreath" (venets/венец).

Saint Stephen is believed to have been a Hellenized Jew and one of the earliest deacons in the Christian community in Jerusalem. Accused of blasphemy because of his beliefs, he was martyred around 36 AD, becoming a cornerstone figure in the Christian faith.

This day remains an important tradition for honoring Saint Stephen's memory and celebrating those who bear his name and its associated variations.