Form 4: Coastal Financial Corp CFO Sells Shares to Cover Tax Obligations

Coastal Financial Corp's Chief Financial Officer, Joel G. Edwards, sold 1,303 shares of common stock to cover tax obligations related to the vesting of restricted stock units.

Summary

• Joel G. Edwards, the Chief Financial Officer of Coastal Financial Corp, sold 1,303 shares of common stock on January 27, 2025.
• The sale was executed at a price of $84.38 per share.
• This transaction was to cover withholding taxes due upon the partial vesting of restricted stock units (RSUs) granted in 2021, 2022, and 2023.
• Following the transaction, Edwards beneficially owns 43,686 shares of Coastal Financial Corp, which includes 11,053 time-based RSUs.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

Form 4 filings are a standard part of regulatory compliance for company insiders, providing transparency into their transactions in company stock. This is a routine transaction related to tax obligations.

Comparison to Industry Standards

• Form 4 filings are a common occurrence for publicly traded companies, especially around vesting periods for equity compensation.
• The sale of shares to cover tax obligations is a standard practice among executives who receive stock-based compensation.
• The number of shares sold and the remaining holdings are within the typical range for executives at similar financial institutions.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on stakeholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Form 4, insider trading, stock sale, restricted stock units, RSUs, Coastal Financial Corp, Joel G. Edwards, CFO