Form 4: Coastal Financial Corp Executive Exercises Stock Options and Acquires Shares
SEC Form 4 Filing
Russ A. Keithley, Chief Banking Officer of Coastal Financial Corp, exercised stock options and acquired 2,600 shares of common stock at $5.50 per share on March 5, 2024.
Summary
- On March 5, 2024, Russ A. Keithley, the Chief Banking Officer of Coastal Financial Corp, executed a transaction involving the company's stock.
- Keithley exercised stock options to acquire 2,600 shares of common stock at a price of $5.50 per share.
- Following this transaction, Keithley directly owns 17,510 shares of Coastal Financial Corp.
- The reported holdings include 9,353 time-based restricted stock units (RSUs) that vest over time.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing an insider transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to the market regarding the actions of company executives. It is standard practice for officers of publicly traded companies to periodically exercise stock options and report these transactions.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 03/18/2015 | Commencement date for vesting of stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan. |
| 03/05/2024 | Date of transaction: Russ A. Keithley exercised stock options and acquired shares. |
| 03/18/2024 | Expiration date for stock options. |
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