Form 4: Coastal Financial Executive Reports Routine Tax-Related Stock Transaction

Coastal Financial Corp. President Curt Queyrouze reported the disposition of 581 shares of common stock to cover tax obligations related to RSU vesting, maintaining a beneficial ownership of 73,476 shares.

Summary

• Curt Queyrouze, President Community Bank Div. of Coastal Financial Corp. (CCB), reported a transaction on May 30, 2025.
• The transaction involved the disposition of 581 shares of Common Stock at a price of $87.89 per share.
• These shares were withheld for the payment of withholding taxes upon the partial vesting of Restricted Stock Units (RSUs) that were granted on June 1, 2022.
• Following this transaction, Mr. Queyrouze beneficially owns 73,476 shares of Coastal Financial Corp. common stock.
• This beneficial ownership includes 10,497 time-based Restricted Stock Units (RSUs) which vest in four, three, and two approximately equal remaining annual installments.
• It also includes 53,000 performance-based Restricted Stock Units (RSUs) that are scheduled to vest on June 1, 2028, with the final quantity dependent upon the achievement of specified performance goals.

Sentiment

Score: 7

Explanation: The transaction is a routine, non-discretionary disposition for tax purposes upon RSU vesting, which is a neutral event. The reporting person retains a significant beneficial ownership, indicating continued alignment with company performance.

Positives

• Reporting person, Curt Queyrouze, maintains a substantial beneficial ownership of 73,476 shares in Coastal Financial Corp., indicating continued alignment with shareholder interests.
• The transaction is a routine tax-related disposition, not a discretionary sale, which suggests no negative sentiment from the insider regarding the company's prospects.

Negatives

• 581 shares of common stock were disposed of, resulting in a minor reduction of the direct shareholding of the reporting person.

Future Outlook

The reporting person holds 10,497 time-based restricted stock units (RSUs) that will vest in approximately equal remaining annual installments, and 53,000 performance-based RSUs that are scheduled to vest on June 1, 2028, contingent upon the achievement of specified performance goals.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically related to executive compensation and tax obligations, which is common across publicly traded companies in the financial services sector.

Stakeholder Impact

• Shareholders: The transaction is a routine tax-related disposition and does not indicate a change in the executive's long-term commitment to the company, as a substantial beneficial ownership is retained.

Next Steps

• Continued vesting of 10,497 time-based Restricted Stock Units (RSUs) in approximately equal remaining annual installments.
• Potential vesting of 53,000 performance-based Restricted Stock Units (RSUs) on June 1, 2028, subject to performance goal achievement.

Key Dates

Recommendation

Keywords

SEC Form 4, Insider Transaction, Coastal Financial Corp, CCB, Stock Disposition, Restricted Stock Units, RSU, Tax Withholding, Executive Compensation