Form 4: Coastal Financial Corp Executive Russ A. Keithley Reports Stock Transaction

Russ A. Keithley, Chief Banking Officer of Coastal Financial Corp, reports disposition of 118 shares to cover tax obligations from vesting RSUs.

Summary

• On February 3, 2025, Russ A. Keithley, the Chief Banking Officer of Coastal Financial Corp, reported a transaction involving the company's common stock.
• Keithley disposed of 118 shares of common stock at a price of $88.4 per share to cover withholding taxes related to the vesting of Restricted Stock Units (RSUs).
• Following the transaction, Keithley directly owns 16,603 shares of Coastal Financial Corp, which includes 7,002 time-based RSUs granted under the company's 2018 Omnibus Incentive Plan.
• The RSUs vest in several remaining installments over time.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing an insider transaction for tax purposes, indicating a neutral sentiment.

Future Outlook

The document outlines the vesting schedule of Keithley's remaining RSUs, indicating future potential share issuances as the RSUs vest.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into insider transactions, allowing investors to track the buying and selling activity of company executives and directors.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it involves a small number of shares disposed of for tax purposes.

Key Dates