Form 4: Coastal Financial Corp CEO Eric Sprink Reports Stock Sale and Option Exercise
SEC Form 4 Filing
CEO Eric Sprink of Coastal Financial Corp. reports the sale of 4,000 shares and the exercise of stock options.
Summary
- Eric Sprink, CEO of Coastal Financial Corp., filed a Form 4 detailing changes in beneficial ownership.
- On September 30, 2024, Sprink sold 4,000 shares of common stock at a price of $54.25 per share.
- On October 2, 2024, Sprink exercised stock options for 596 shares at an exercise price of $14.91.
- Following these transactions, Sprink directly owns 310,285 shares of common stock.
- Sprink also indirectly owns 1,200 shares held by custodians for his children.
- He also holds 13,369 stock options.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by an insider. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The sale and option exercise are typical activities for executives.
Stakeholder Impact
- The transactions may be of interest to shareholders as they provide insight into management's perspective on the company's stock.
Key Dates
| Date | Description |
|---|---|
| 01/22/2020 | Commencement date for vesting of stock options granted pursuant to the Coastal Financial Corp. 2018 Omnibus Incentive Plan. |
| 09/30/2024 | Date of common stock sale. |
| 10/02/2024 | Date of stock option exercise. |
| 10/02/2024 | Date of Form 4 filing. |
| 10/04/2027 | Vesting date for 100,000 performance-based restricted stock units. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.