Form 4: Coastal Financial Corp Executive Sells Shares to Cover Taxes on Vesting RSUs
SEC Form 4 Filing
Tarah M. Herger, an EVP at Coastal Financial Corp, sold 208 shares to cover taxes related to the vesting of restricted stock units.
Summary
- Tarah M. Herger, an Executive Vice President at Coastal Financial Corp, sold 208 shares of common stock on January 27, 2025.
- The sale was executed to cover withholding taxes due upon the partial vesting of restricted stock units (RSUs).
- The shares were sold at a price of $84.38 per share.
- Following the transaction, Herger beneficially owns 14,700 shares of Coastal Financial Corp, which includes 13,035 time-based RSUs.
Sentiment
Score: 5
Explanation: This is a routine transaction related to executive compensation and does not indicate any positive or negative sentiment about the company's performance.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when RSUs vest.
Comparison to Industry Standards
- The sale of shares to cover taxes on vesting RSUs is a standard practice across many publicly traded companies.
- Similar transactions are regularly reported by executives at comparable financial institutions.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale of shares by an executive to cover taxes.
Key Dates
| Date | Description |
|---|---|
| 01/25/2021 | Date of initial RSU grant that contributed to the vesting event. |
| 01/25/2022 | Date of initial RSU grant that contributed to the vesting event. |
| 01/25/2023 | Date of initial RSU grant that contributed to the vesting event. |
| 01/27/2025 | Date of the transaction where shares were sold to cover taxes. |
| 01/29/2025 | Date the Form 4 was signed. |
| 07/26/2027 | Date when 5,000 RSUs will vest. |
| 01/26/2030 | Date when 5,000 RSUs will vest. |
Keywords
Coastal Financial Corp, insider trading, Form 4, restricted stock units, RSUs, executive compensation, stock sale, Tarah M. Herger
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.