Form 4: Coastal Financial Corp Director Steven D Hovde Sells Shares

Director Steven D Hovde of Coastal Financial Corp sold shares of common stock on September 19th and 20th, 2024.

Summary

• Steven D Hovde, a director of Coastal Financial Corp, reported changes in beneficial ownership.
• On September 19, 2024, Hovde sold 2,050 shares of common stock at a price of $53.51 per share.
• On September 20, 2024, Hovde sold 339 shares of common stock at a price of $53.89 per share.
• Following these transactions, Hovde indirectly owns 21,611 shares of common stock through a business.
• Hovde also directly owns 1,714,870 shares of common stock, including restricted stock that vests prior to the 2025 Annual Shareholder Meeting.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it simply reports stock sales by a director. It doesn't inherently indicate positive or negative sentiment about the company's future.

Industry Context

This filing is a routine disclosure of insider trading activity, which is common for directors and officers of publicly traded companies. Investors often monitor these filings for signals about management's confidence in the company's prospects.

Stakeholder Impact

• Shareholders may interpret the stock sales as a lack of confidence by the director, although this is not necessarily the case.

Key Dates