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    CEO Sprink Eric M covered exercise/tax liability with 1,654 shares, transferred by will 885 shares) and exercised 3,761 shares at a strike of $6.72, increasing direct ownership by 0.88% to 241,194 units (SEC Form 4)

    5/29/25 1:18:31 PM ET
    $CCB
    Major Banks
    Finance
    Get the next $CCB alert in real time by email
    SEC FORM 4 SEC Form 4
    FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549

    STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
    or Section 30(h) of the Investment Company Act of 1940
    OMB APPROVAL
    OMB Number: 3235-0287
    Estimated average burden
    hours per response: 0.5
      
    Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
      
    Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
    1. Name and Address of Reporting Person*
    Sprink Eric M

    (Last) (First) (Middle)
    C/O 5415 EVERGREEN WAY

    (Street)
    EVERETT WA 98203

    (City) (State) (Zip)
    2. Issuer Name and Ticker or Trading Symbol
    COASTAL FINANCIAL CORP [ CCB ]
    5. Relationship of Reporting Person(s) to Issuer
    (Check all applicable)
    X Director 10% Owner
    X Officer (give title below) Other (specify below)
    CEO
    3. Date of Earliest Transaction (Month/Day/Year)
    05/27/2025
    4. If Amendment, Date of Original Filed (Month/Day/Year)
    6. Individual or Joint/Group Filing (Check Applicable Line)
    X Form filed by One Reporting Person
    Form filed by More than One Reporting Person
    Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
    1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
    Code V Amount (A) or (D) Price
    Common Stock 05/27/2025 W 885 A $0 885 I By spouse
    Common Stock 05/28/2025 M 1,881 A $6.25 240,968 D
    Common Stock 05/28/2025 M 1,880 A $7.2 242,848 D
    Common Stock 05/28/2025 F 1,654(1) D $87.19 241,194(2) D
    Common Stock 400 I By Custodian for Child 1
    Common Stock 400 I By Custodian for Child 2
    Common Stock 400 I By Custodian for Child 3
    Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
    (e.g., puts, calls, warrants, options, convertible securities)
    1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
    Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
    Stock Options $6.25 05/28/2025 M 1,881 02/24/2017(3) 02/24/2026 Common Stock 1,881 $0 1,882 D
    Stock Options $7.2 05/28/2025 M 1,880 07/01/2016(4) 07/01/2025 Common Stock 1,880 $0 0 D
    Explanation of Responses:
    1. Represents shares withheld in payment of withholding taxes and exercise cost for NQSO included in this filing.
    2. Includes 38,508 time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. 9,318 of the RSUs vest in five approximately equal remaining installments; 4,219 of the RSUs vest in four approximately equal remaining installments; 10,032 of the RSUs vest in three approximately equal remaining installments; 8,366 of the RSUs vest in approximately two remaining equal installments; 6,573 of the RSUs vest in approximately one remaining equal installment. Also includes 100,000 shares of performance-based restricted stock units that vest on October 4, 2027, the quantity of which is dependent upon achievement of specified performance goals. Each restricted stock unit represents the right to receive one share of common stock upon vesting.
    3. Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in ten approximately equal installments commencing on February 24, 2017.
    4. Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in ten approximately equal installments commencing on July 1, 2016.
    Remarks:
    /s/ Joel Edwards, as Attorney-in-fact 05/28/2025
    ** Signature of Reporting Person Date
    Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
    * If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
    ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
    Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
    Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
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