Form 4: Coastal Financial Corp Executive Tarah M Herger Reports Stock Transaction
SEC Form 4 Filing
EVP, Division Manager Tarah M Herger reports disposition of Coastal Financial Corp shares to cover withholding taxes upon vesting of restricted stock units.
Summary
- On February 3, 2025, Tarah M Herger, an EVP and Division Manager at Coastal Financial Corp, reported a transaction involving the company's common stock.
- Herger disposed of 15 shares at a price of $88.4 to cover withholding taxes related to the vesting of restricted stock units (RSUs).
- Following the transaction, Herger beneficially owns 14,685 shares of Coastal Financial Corp.
- These holdings include 12,983 time-based restricted stock units (RSUs) that vest in various installments over the coming years, with final vesting dates in January 2030.
Sentiment
Score: 5
Explanation: Neutral sentiment as this is a standard transaction related to executive compensation and tax obligations.
Future Outlook
The reporting person holds a significant number of restricted stock units that will vest over the next several years, indicating a continued alignment with the company's long-term performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates that an executive is managing their equity compensation.
Comparison to Industry Standards
- Equity compensation is a common practice in the financial services industry to align management's interests with those of shareholders.
- The vesting schedules of the RSUs are typical for executive compensation packages, designed to incentivize long-term performance.
- Comparing Herger's holdings and transactions to those of executives at similar-sized regional banks (e.g., Columbia Banking System, Umpqua Holdings) would provide further context.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it involves a small number of shares.
- It demonstrates that the executive is receiving and managing equity compensation, which can align their interests with those of shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/03/2020 | Date of original RSU grant. |
| 02/03/2025 | Date of transaction: Disposition of shares for tax withholding. |
| 02/04/2025 | Date of signature on the Form 4 filing. |
| 07/26/2027 | Date of RSU vesting for 5,000 RSUs. |
| 01/26/2030 | Date of RSU vesting for 5,000 RSUs. |
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.