Form 4: Coastal Financial Corp CEO Sells 3,000 Shares

Eric M. Sprink, CEO of Coastal Financial Corp, sold 3,000 shares of common stock at a price of $59.77 per share on October 17, 2024.

Summary

• On October 17, 2024, Eric M. Sprink, the CEO of Coastal Financial Corp, sold 3,000 shares of the company's common stock.
• The sale was executed at a price of $59.77 per share.
• Following the transaction, Sprink directly owns 279,388 shares of Coastal Financial Corp.
• Sprink also indirectly owns 400 shares each through custodianships for three children.
• The reported sales were effected pursuant to a Rule 10b5-1 trading plan.
• Sprink also holds 50,253 time-based restricted stock units (RSUs) that vest in multiple installments through October 4, 2027.
• Additionally, he holds 100,000 performance-based restricted stock units that vest on October 4, 2027, contingent upon achieving specified performance goals.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a stock sale by the CEO. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This Form 4 filing is a routine disclosure of insider trading activity, providing transparency to investors regarding the transactions of company executives. It's common for executives to have pre-arranged trading plans (Rule 10b5-1) to avoid accusations of trading on inside information.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• The disclosure provides transparency to stakeholders regarding insider transactions.

Key Dates