Form 4: Coastal Financial Corp Director Steven D Hovde Reports Stock Sales

Director Steven D Hovde reported selling shares of Coastal Financial Corp on August 26 and August 28, 2024.

Summary

• Steven D Hovde, a director of Coastal Financial Corp, filed a Form 4 detailing changes in beneficial ownership.
• On August 26, 2024, Hovde sold 2,003 shares of Common Stock at a price of $53.26 per share.
• Following this transaction, Hovde directly owns 1,714,870 shares and indirectly owns 27,997 shares through a business.
• On August 28, 2024, Hovde sold 1,497 shares of Common Stock at a price of $53 per share.
• Following this transaction, Hovde indirectly owns 26,500 shares through a business.
• Hovde also holds restricted stock that vests one day prior to the issuer's 2025 Annual Shareholder Meeting.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock sales by a director, which is neutral in sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• Shareholders may interpret the stock sales as a lack of confidence by the director, although sales can be for various personal financial reasons.

Key Dates