Form 4: Coastal Financial Corp CFO Exercises Stock Options
SEC Form 4 Filing
Joel G. Edwards, CFO of Coastal Financial Corp, executed stock options and reported changes in beneficial ownership of company stock.
Summary
- On March 12, 2024, Joel G. Edwards, the Chief Financial Officer of Coastal Financial Corp, exercised stock options to acquire 800 shares of common stock at a price of $5.5 per share.
- Following this transaction, Edwards directly owns 57,403 shares of Coastal Financial Corp.
- These holdings include 14,116 time-based restricted stock units (RSUs) vesting over two to six years.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a stock option exercise, which is neutral in sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like the CFO, trade in their company's stock. This provides transparency to the market.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding insider trading activity.
Key Dates
| Date | Description |
|---|---|
| 03/18/2015 | Commencement date for vesting of stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan. |
| 03/12/2024 | Date of transaction: CFO Joel G. Edwards exercised stock options. |
| 03/18/2024 | Expiration date for stock options. |
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.