Form 4: Coastal Financial CEO Sells Shares Under 10b5-1 Plan

Coastal Financial Corp CEO Eric M. Sprink sold 4,000 shares of common stock for approximately $475,500 under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Eric M. Sprink, CEO and Director of Coastal Financial Corp (CCB), reported the sale of 4,000 shares of common stock on January 9, 2026.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled transaction rather than a discretionary one.
• The shares were sold in two transactions: 2,000 shares at $119.25 per share and 2,000 shares at $118.5014 per share, totaling approximately $475,502.84.
• Following these transactions, Sprink directly beneficially owns 178,884 shares of common stock.
• This direct beneficial ownership includes 38,508 time-based restricted stock units (RSUs) with various remaining vesting installments.
• It also includes 100,000 performance-based restricted stock units that are scheduled to vest on October 4, 2027, contingent upon the achievement of specified performance goals.
• Indirect beneficial ownership includes 885 shares held by Sprink's spouse and 1,200 shares held by custodians for three children (400 shares each).

Sentiment

Score: 5

Explanation: The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, which typically indicates a planned diversification or liquidity event rather than a change in sentiment regarding the company's prospects. Therefore, the transaction itself is neutral in sentiment.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This Form 4 filing reports an insider transaction and does not contain information related to broader industry trends or competitive landscape.

Related Party Transactions

• Indirect beneficial ownership includes 885 shares held by spouse and 1,200 shares held by custodians for children.

Stakeholder Impact

• Shareholders: A minor reduction in the CEO's direct common stock holdings, but overall beneficial ownership remains substantial, including significant RSU holdings, which aligns management's interests with long-term shareholder value.

Next Steps

• Continued vesting of 38,508 time-based restricted stock units in various remaining installments.
• Potential vesting of 100,000 performance-based restricted stock units on October 4, 2027, subject to performance goal achievement.

Key Dates

Keywords

Coastal Financial Corp, CCB, Form 4, Insider Trading, Stock Sale, CEO, Rule 10b5-1, Restricted Stock Units, Beneficial Ownership