Form 4: Coastal Financial Director Receives Restricted Stock Grant as Incentive

Coastal Financial Corp. Director Thomas D. Lane was granted 1,205 shares of restricted common stock, aligning his interests with shareholders.

Summary

• Thomas D. Lane, a Director of Coastal Financial Corp. (CCB), acquired 1,205 shares of common stock on May 28, 2025.
• These 1,205 shares were granted as restricted stock under the Coastal Financial Corporation 2018 Omnibus Incentive Plan.
• The restricted shares will vest one day prior to the issuer's 2026 Annual Shareholder Meeting.
• Following this transaction, Mr. Lane's beneficial ownership includes 83,832 shares directly, 110 shares indirectly through one child, 300 shares indirectly through another child, and 54,280 shares indirectly through blind trust accounts.

Sentiment

Score: 7

Explanation: The grant of restricted stock to a director is generally viewed positively as it aligns management incentives with shareholder interests and is a standard component of compensation.

Positives

• The grant of restricted stock aligns the director's long-term interests with those of the company's shareholders.
• The transaction is part of an established incentive plan (Coastal Financial Corporation 2018 Omnibus Incentive Plan), indicating structured compensation practices.

Future Outlook

The 1,205 restricted shares granted to Director Thomas D. Lane are scheduled to vest one day prior to the issuer's 2026 Annual Shareholder Meeting, serving as a future incentive.

Industry Context

This Form 4 filing details a routine insider transaction, specifically a restricted stock grant, which is a common component of executive and director compensation packages across the financial services industry. Such grants are designed to incentivize long-term performance and align the interests of company leadership with shareholders.

Comparison to Industry Standards

• The grant of restricted stock as part of an omnibus incentive plan is a standard practice for compensating directors and executives in the financial sector, similar to compensation structures observed at regional banks and financial institutions like Columbia Banking System (COLB) or Umpqua Holdings Corporation (UMPQ).
• The vesting schedule tied to a future annual meeting is also a common mechanism to ensure continued service and performance alignment, consistent with corporate governance best practices for director compensation.

Corporate Governance

Related Party Transactions

• Grant of 1,205 restricted shares of common stock to Thomas D. Lane, a Director of Coastal Financial Corp., under the Coastal Financial Corporation 2018 Omnibus Incentive Plan. This is a compensation-related transaction with a related party (insider).

Stakeholder Impact

• Shareholders: The grant of restricted stock aims to align the director's interests with shareholders, potentially leading to improved long-term performance and value creation.
• Employees: While not directly impacting all employees, such compensation structures for leadership can set a precedent for performance-based incentives within the organization.

Next Steps

• The 1,205 restricted shares granted to Director Thomas D. Lane are expected to vest one day prior to Coastal Financial Corporation's 2026 Annual Shareholder Meeting.

Key Dates

Keywords

Coastal Financial Corp, CCB, Form 4, Insider Transaction, Restricted Stock, Stock Grant, Director Compensation, Beneficial Ownership, Incentive Plan