Form 4: Coastal Financial Corp Executive Tarah M Herger Reports Stock Transactions
SEC Form 4 Filing
Tarah M Herger, EVP and Division Manager at Coastal Financial Corp, reports acquisition and disposal of common stock related to restricted stock units.
Summary
- On February 6, 2025, Tarah M Herger disposed of 120 shares of Coastal Financial Corp common stock at a price of $88.90 per share to cover withholding taxes upon partial vesting of RSUs.
- On February 5, 2025, Herger acquired 892 shares of common stock through the vesting of restricted stock units (RSUs) at a price of $0 per share.
- Following these transactions, Herger beneficially owns 14,565 shares directly, which includes 13,468 time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation. There is no indication of unusual or concerning activity.
Positives
- The acquisition of shares through RSU vesting indicates a continued alignment of the executive's interests with the company's performance.
Future Outlook
The executive's holdings will continue to vest over the coming years, as per the vesting schedule of the RSUs.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, ensuring fair market practices.
Comparison to Industry Standards
- Tracking insider transactions is a common practice in financial analysis to gauge management's sentiment and confidence in the company's prospects.
- Similar filings are made by executives at comparable financial institutions like Washington Federal and Columbia Banking System, providing insights into executive compensation and stock ownership trends within the industry.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are part of standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 02/05/2024 | Date of RSU grant related to shares withheld for taxes. |
| 02/05/2025 | Date of RSU vesting and acquisition of 892 shares. |
| 02/06/2025 | Date of disposal of 120 shares for tax withholding. |
| 02/05/2026 | Commencement date of vesting in four approximately equal installments for the 892 RSUs awarded on 02/05/2025. |
| 07/26/2027 | Vesting date for 5,000 shares of RSUs. |
| 01/26/2030 | Vesting date for 5,000 shares of RSUs. |
Keywords
Coastal Financial Corp, CCB, Tarah M Herger, Form 4, RSU, Restricted Stock Units, Beneficial Ownership, Insider Trading
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