Form 4: Coastal Financial Corp CEO Eric Sprink Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Coastal Financial Corp CEO Eric Sprink sold a total of 13,000 shares of common stock between October 3rd and October 7th, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Eric Sprink, CEO of Coastal Financial Corp, reported the sale of 13,000 shares of common stock between October 3rd and October 7th, 2024.
- The sales were executed under a Rule 10b5-1 trading plan.
- The prices per share ranged from $52.01 to $53.09.
- Following these transactions, Sprink directly owns 297,285 shares.
- Sprink also indirectly owns 1,200 shares through custodianships for his children.
- The reported holdings include 50,253 time-based restricted stock units (RSUs) and 100,000 performance-based restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, reporting stock sales by an insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The CEO's future transactions may be governed by the existing 10b5-1 trading plan.
Industry Context
Insider transactions are routinely monitored by investors to gauge management's perspective on the company's valuation and future prospects. Sales under a 10b5-1 plan are generally viewed as less informative since they are pre-scheduled.
Stakeholder Impact
- The stock sales could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 10/03/2024 | Date of first reported transaction: Sale of 5,000 shares at $52.01. |
| 10/04/2024 | Date of second reported transaction: Sale of 2,000 shares at $52.90. |
| 10/07/2024 | Date of third reported transaction: Sale of 6,000 shares at $53.09. |
| 10/07/2024 | Date of signature on the 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.