Form 4: Director Michael Patterson Receives Coastal Financial Stock

Director Michael Robert Patterson acquired 1,404 shares of Coastal Financial Corp common stock via a restricted stock grant.

Summary

• Director Michael Robert Patterson was granted 1,404 shares of Coastal Financial Corp (CCB) common stock.
• The transaction occurred on May 26, 2026.
• The shares were granted under the Coastal Financial Corporation 2018 Omnibus Incentive Plan.
• Following this transaction, the director's total beneficial ownership is 8,294 shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, routine administrative filing regarding director compensation.

Positives

• Director alignment with shareholder interests is increased through the acquisition of equity.
• The grant is part of a standard incentive plan, indicating routine compensation practices.

Negatives

• None identified.

Risks

• The vesting of these shares is contingent upon the director's continued service until the day prior to the 2027 Annual Shareholder Meeting.

Future Outlook

The restricted stock is scheduled to vest one day prior to the issuer's 2027 Annual Shareholder Meeting.

Industry Context

StockSavvy.ai notes that director equity grants are standard corporate governance practices in the banking sector to ensure long-term alignment between board members and shareholders.

Comparison to Industry Standards

• The use of an Omnibus Incentive Plan for director compensation is consistent with standard practices for publicly traded financial institutions.
• The vesting schedule tied to annual meetings is a common retention mechanism for board members.

Stakeholder Impact

• Minor increase in director equity stake, reinforcing alignment with shareholder interests.

Next Steps

• Vesting of the 1,404 shares on the day prior to the 2027 Annual Shareholder Meeting.

Key Dates

Keywords

Coastal Financial Corp, CCB, Form 4, Insider Trading, Director Compensation, Equity Grant