Form 4: Coastal Financial Corp Director Steven D Hovde Sells Shares
SEC Form 4
Director Steven D Hovde sold shares of Coastal Financial Corp on August 29th and 30th, 2024.
Summary
- Steven D Hovde, a director of Coastal Financial Corp, sold shares of the company's common stock on August 29th and 30th, 2024.
- On August 29th, 944 shares were sold at a price of $53.50.
- On August 30th, 1,556 shares were sold at a price of $53.50.
- Following these transactions, Hovde indirectly owns 24,000 shares through a business.
- Hovde also directly owns 1,714,870 shares, including restricted stock that vests prior to the 2025 Annual Shareholder Meeting.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a director's stock sale. It doesn't inherently convey positive or negative sentiment, but the market may interpret the sale based on its size and context.
Industry Context
This Form 4 filing indicates insider trading activity, which is common and closely monitored by investors for insights into management's perspective on the company's valuation and future prospects. It is important to consider the size of the transaction relative to the insider's total holdings.
Stakeholder Impact
- Shareholders may react to the insider selling activity, potentially impacting the stock price.
Key Dates
| Date | Description |
|---|---|
| 08/29/2024 | Sale of 944 shares of common stock at $53.50 per share. |
| 08/30/2024 | Sale of 1,556 shares of common stock at $53.50 per share. |
| Prior to 2025 Annual Shareholder Meeting | 1,604 shares of restricted stock vest. |
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