EVP, Chief Credit Officer Sand Jonathan E was granted 892 shares and exercised 1,800 shares at a strike of $12.25, increasing direct ownership by 14% to 22,303 units (SEC Form 4)
$CCB
Major Banks
Finance
| 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 |
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| 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*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
COASTAL FINANCIAL CORP [ CCB ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 02/05/2025 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 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 | 02/05/2025 | A | 892(1) | A | $0 | 20,503 | D | |||
| Common Stock | 02/06/2025 | M | 1,200 | A | $14.91 | 21,703 | D | |||
| Common Stock | 02/06/2025 | M | 200 | A | $7.1 | 21,903 | D | |||
| Common Stock | 02/06/2025 | M | 200 | A | $6.5 | 22,103 | D | |||
| Common Stock | 02/06/2025 | M | 200 | A | $7.2 | 22,303(2) | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 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 | $14.91 | 02/06/2025 | M | 1,200 | 01/22/2020(3) | 01/22/2029 | Common Stock | 1,200 | $0 | 800 | D | ||||
| Stock Options | $7.1 | 02/06/2025 | M | 200 | 01/22/2019(4) | 01/22/2028 | Common Stock | 200 | $0 | 600 | D | ||||
| Stock Options | $6.5 | 02/06/2025 | M | 200 | 01/26/2018(5) | 01/26/2027 | Common Stock | 200 | $0 | 400 | D | ||||
| Stock Options | $7.2 | 02/06/2025 | M | 200 | 07/01/2016(6) | 07/01/2025 | Common Stock | 200 | $0 | 200 | D | ||||
| Explanation of Responses: |
| 1. Represents award of time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. The RSUs vest in four approximately equal installments commencing on February 5, 2026. Each restricted stock unit represents the right to receive one share of common stock upon vesting. |
| 2. Includes 6,059 time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. 518 RSUs vest in five approximately equal remaining annual installments; 892 RSUs vest in four approximately equal remaining annual installments;2,852 RSUs vest in approximately three equal remaining annual installments; and 1,797 shares vest in approximately two equal remaining installments . Each restricted stock unit represents the right to receive one share of common stock upon vesting. |
| 3. Stock options granted pursuant to the 2018 Coastal Financial Corporation Omnibus Incentive Plan vest in ten approximately equal installments commencing on July 1, 2016. |
| 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 January 22, 2019. |
| 5. Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in ten approximately equal installments commencing on January 26, 2018. |
| 6. 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/ Melisa Nelson, as Attorney-in-fact | 02/06/2025 | |
| ** 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. | ||