Form 4: Coastal Financial Corp: Insider Sells Shares for Tax Withholding
Statement of Changes in Beneficial Ownership
Brian T. Hamilton, a Director and Officer of Coastal Financial Corp, reported the sale of 229 shares of common stock on July 1, 2026, to cover withholding taxes upon the partial vesting of Restricted Stock Units (RSUs) under a Rule 10b5-1 trading plan.
Summary
- Brian T. Hamilton, who holds the positions of Director and President of Coastal Financial Corp, executed a transaction on July 1, 2026.
- This transaction involved the sale of 229 shares of common stock at a price of $77.72 per share.
- The sale was conducted under a Rule 10b5-1 trading plan to cover withholding taxes associated with the partial vesting of Restricted Stock Units (RSUs).
- Following this transaction, Mr. Hamilton beneficially owns 67,112 shares of common stock.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this filing as neutral, as it represents a routine insider transaction for tax purposes under a pre-established plan, rather than a discretionary sale or purchase that might signal a change in the insider's view of the company's prospects.
Risks
- The transaction was executed under a Rule 10b5-1 trading plan, which is designed to provide an affirmative defense against allegations of insider trading by establishing a predetermined plan for buying or selling securities.
- The sale was specifically to cover withholding taxes, indicating a non-discretionary event tied to compensation vesting.
Future Outlook
The filing details the current ownership structure and recent transactions, but does not contain forward-looking financial guidance or projections.
Industry Context
StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions. The use of a Rule 10b5-1 plan by Brian T. Hamilton, a key executive and director at Coastal Financial Corp, is a common practice to manage stock sales for tax or diversification purposes in a manner that complies with insider trading regulations.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Rule 10b5-1 Trading Plan | Transaction executed pursuant to a written plan for the purchase or sale of equity securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). | Not specified, but plan was in effect for the 07/01/2026 transaction. | Enhances compliance with insider trading regulations by establishing a pre-arranged trading strategy. |
Stakeholder Impact
- Shareholders: The sale of 229 shares by a director and officer is a minor transaction and is not expected to significantly impact the stock price, especially given it's for tax withholding under a Rule 10b5-1 plan.
Next Steps
- Continued vesting of remaining Restricted Stock Units (RSUs) through April 30, 2028.
- Potential future transactions under the Rule 10b5-1 plan as specified in the plan's terms.
Key Dates
| Date | Description |
|---|---|
| 07/01/2026 | Transaction Date for sale of common stock and earliest transaction date. |
| 04/30/2028 | Vesting date for performance-based RSUs and some remaining RSUs. |
Keywords
Form 4, Insider Trading, Rule 10b5-1, Restricted Stock Units, RSUs, Withholding Taxes, Coastal Financial Corp, CCB, Beneficial Ownership, Stock Sale
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