Form 4: Coastal Financial Director Stephan Klee Receives Restricted Stock Grant

Coastal Financial Corp. Director Stephan Klee was granted 1,119 shares of restricted common stock as part of the company's 2018 Omnibus Incentive Plan, vesting prior to the 2026 Annual Shareholder Meeting.

Summary

• Stephan Klee, a Director of Coastal Financial Corp. (CCB), acquired 1,119 shares of common stock on May 28, 2025.
• These shares were granted as restricted stock under the Coastal Financial Corporation 2018 Omnibus Incentive Plan.
• The acquired shares had a transaction price of $0, indicating they were part of a compensation or incentive grant.
• The 1,119 restricted shares are scheduled to vest one day prior to the issuer's 2026 Annual Shareholder Meeting.
• Following this transaction, Stephan Klee beneficially owns 1,119 shares indirectly through SK Trail LLC and 6,011 shares directly, totaling 7,130 shares.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. The grant of restricted stock to a director is a routine compensation event that aligns management's interests with shareholders, indicating stability and continued commitment, without any negative implications for the company's operations or financial health.

Positives

• The grant of restricted stock aligns the interests of Director Stephan Klee with those of shareholders, as the value of his compensation is tied to the company's stock performance.
• The transaction indicates continued commitment and involvement of a key director with the company.

Negatives

• The issuance of new shares, even as restricted stock, can lead to minor dilution for existing shareholders, although the amount is small in this instance.

Risks

• The value of the restricted stock grant is subject to market fluctuations of Coastal Financial Corp.'s common stock until vesting.
• The shares are subject to a vesting schedule, meaning the director must remain with the company until the vesting date to fully realize the benefit.

Future Outlook

The 1,119 restricted shares granted to Director Stephan Klee are scheduled to vest one day prior to Coastal Financial Corporation's 2026 Annual Shareholder Meeting, indicating a future milestone for this compensation.

Industry Context

This Form 4 filing is a routine disclosure of insider stock ownership changes, common across all publicly traded companies, reflecting standard executive and director compensation practices within the financial services industry.

Corporate Governance

Stakeholder Impact

• **Shareholders:** Minor potential for dilution from the issuance of new shares, but also improved alignment of director incentives with shareholder interests.
• **Director (Stephan Klee):** Receives equity-based compensation, subject to vesting conditions, tying his personal financial interest to the company's performance.

Next Steps

• The 1,119 restricted shares granted to Director Stephan Klee are expected to vest one day prior to Coastal Financial Corporation's 2026 Annual Shareholder Meeting.

Key Dates

Keywords

Coastal Financial Corp, CCB, Stephan Klee, Form 4, Restricted Stock, Stock Grant, Director Compensation, Beneficial Ownership, SEC Filing, Incentive Plan