Form 4: Coastal Financial Corp Executive Curt Queyrouze Reports Stock Transaction
SEC Form 4 Filing
Coastal Financial Corp's President of Community Bank Division, Curt Queyrouze, sold 438 shares of common stock to cover taxes related to vesting restricted stock units.
Summary
- Curt Queyrouze, President of the Community Bank Division at Coastal Financial Corp, reported a transaction involving the company's common stock.
- On January 27, 2025, Mr. Queyrouze sold 438 shares at a price of $84.38 per share.
- This sale was to cover withholding taxes due upon the partial vesting of restricted stock units (RSUs) granted on January 25, 2023.
- Following the transaction, Mr. Queyrouze beneficially owns 72,069 shares of Coastal Financial Corp.
- This total includes 12,122 time-based RSUs that vest over several future installments and 53,000 performance-based RSUs that vest on June 1, 2028, contingent on performance goals.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to an executive's stock transaction, which is neither positive nor negative for the company's overall outlook.
Industry Context
This is a routine filing related to executive compensation and stock ownership, which is common in publicly traded companies. It does not indicate any specific trend or event within the banking industry.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and this filing is consistent with those requirements.
- The vesting of restricted stock units and subsequent tax-related sales are common forms of executive compensation across various industries, including financial services.
- The number of shares sold and the remaining holdings are within the expected range for an executive at a company of this size.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale of shares by an executive.
- The sale does not indicate any change in the company's performance or outlook.
Key Dates
| Date | Description |
|---|---|
| 01/25/2023 | Date of the grant of restricted stock units that partially vested. |
| 01/27/2025 | Date of the stock sale transaction by Curt Queyrouze. |
| 01/28/2025 | Date of the filing of the Form 4. |
| 06/01/2028 | Vesting date for performance-based restricted stock units. |
Keywords
Coastal Financial Corp, CCB, stock transaction, Form 4, insider trading, restricted stock units, RSUs, executive compensation, Curt Queyrouze
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