Form 4: Coinbase CEO Brian Armstrong Executes Stock Conversion and Sale Under 10b5-1 Plan

Coinbase CEO Brian Armstrong converted Class B Common Stock to Class A Common Stock and sold 10,000 shares under a pre-arranged 10b5-1 trading plan.

Summary

• Brian Armstrong, CEO of Coinbase Global, Inc., converted 10,000 shares of Class B Common Stock to Class A Common Stock on March 24, 2025.
• On March 25, 2025, Armstrong sold 10,000 shares of Class A Common Stock at a weighted average price of $198.1538 per share, with prices ranging from $198.00 to $198.50.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on August 15, 2024.
• Following these transactions, Armstrong directly owns no shares but indirectly owns 10,526 shares of Class A Common Stock through The Brian Armstrong Living Trust.
• Armstrong also indirectly owns 24,081,225 shares of Class B Common Stock and 2,958,393 shares of Class A Common Stock through various trusts.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions. It doesn't convey any particularly positive or negative sentiment, as it's simply a report of factual events.

Industry Context

This filing is a routine disclosure of stock transactions by a company insider and is common practice for executives of publicly traded companies. The use of a 10b5-1 trading plan allows insiders to sell shares over a period of time without being accused of trading on inside information.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.

Key Dates

Keywords

Coinbase, Brian Armstrong, Class A Common Stock, Class B Common Stock, 10b5-1 trading plan, SEC Form 4, Beneficial Ownership, Stock Sale, Stock Conversion