Form 4: Coastal Financial Corp Director Acquires Shares as Part of Incentive Plan

Director Michael Robert Patterson acquired 1,718 shares of Coastal Financial Corp common stock on May 30, 2024, as part of the company's 2018 Omnibus Incentive Plan.

Summary

• On May 30, 2024, Michael Robert Patterson, a director of Coastal Financial Corp, acquired 1,718 shares of common stock.
• The acquisition was part of the Coastal Financial Corporation 2018 Omnibus Incentive Plan.
• These shares were granted as restricted stock and will vest one day prior to the issuer's 2025 Annual Shareholder Meeting.
• Following the transaction, Patterson beneficially owns 5,743 shares of Coastal Financial Corp common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction related to an existing incentive plan, indicating alignment between management and shareholders.

Positives

• The acquisition of shares by a director demonstrates confidence in the company's future prospects.
• The vesting schedule aligns the director's interests with the long-term performance of the company.

Future Outlook

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

Industry Context

This type of transaction, where directors receive stock as part of an incentive plan, is common in the financial industry to align management's interests with those of shareholders.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholders by aligning the director's interests with the company's performance.

Key Dates