Form 4: Coastal Financial Corp CEO Sprink Eric M Reports Stock Transaction
SEC Form 4 Filing
CEO Eric M Sprink reports disposition of shares to cover withholding taxes upon vesting of restricted stock units.
Summary
- Eric M Sprink, CEO of Coastal Financial Corp, filed a Form 4 indicating changes in beneficial ownership.
- On February 3, 2025, 733 shares of common stock were disposed of to cover withholding taxes at a price of $88.4 per share.
- Following the transaction, Sprink directly owns 231,337 shares of common stock.
- Sprink also indirectly owns 400 shares each through custodianships for three children.
- The reported holdings include time-based and performance-based restricted stock units (RSUs) that vest over time.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine stock transaction. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The document mentions future vesting of both time-based and performance-based restricted stock units, indicating potential future changes in ownership.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the CEO's stock-based compensation and tax obligations.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it involves a small number of shares disposed of for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 02/03/2020 | Date of grant of RSUs, partial vesting occurred on 02/03/2025 |
| 02/03/2025 | Date of transaction: Disposition of shares for tax withholding. |
| 02/04/2025 | Date of signature of the Form 4 filing. |
| 10/04/2027 | Vesting date for 100,000 performance-based restricted stock units. |
Keywords
Form 4, Beneficial Ownership, Coastal Financial Corp, CCB, Eric M Sprink, CEO, Stock Transaction, RSUs, Restricted Stock Units, Vesting
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