SEC Form SC 13G/A filed by Coastal Financial Corporation (Amendment)

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CUSIP No. 19046P209

13G

1	NAMES OF REPORTING PERSONS
	Emanuel J. Friedman
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☒
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
			0
		6	SHARED VOTING POWER
			990,527
		7	SOLE DISPOSITIVE POWER
			0
		8	SHARED DISPOSITIVE POWER
			990,527
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	990,527
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	7.7% (1)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

(1)

Based on 12,875,315 shares of Common Stock outstanding as of December 31, 2021, as reflected in the Form 8-K filed by the Issuer with the SEC on January 27, 2022.  As of the date of this filing, Emanuel J. Friedman is the beneficial owner of an aggregate of 557,355 shares of Common Stock, representing 4.3% of the class based on 12,875,315 shares of Common Stock outstanding as of December 31, 2021, as reflected on the Issuer’s Form 8-K filed with the SEC on January 27, 2022.

 

Item 1(a).

Name of Issuer

Coastal Financial Corp.

 

5415 Evergreen Way
Evergreen, Washington  98203

This Amendment No. 4 to the Schedule 13G is being filed on behalf of the following persons (the “Reporting Persons”)*:

 

*Attached as Exhibit A is a copy of an agreement among the Reporting Persons that this Amendment No. 4 to the Schedule 13G is being filed on behalf of each of them.

 

The address of the principal business office of each Reporting Person is:

2107 Wilson Boulevard

Suite 410

Arlington, VA 22201

 

See Item 4 of the attached cover pages.

 

Common Stock, no par value per share per share (“Common Stock”)

 

19046P209

Not Applicable.

 

EJF Sidecar Series SFE is the record owner of the number of shares of Common Stock shown on Item 9 of its respective cover page.

The Financial Services Fund is the record owner of the shares of Common Stock shown on Item 9 of its respective cover page.

EJF Financial Services GP, LLC is the general partner of the Financial Services Fund and an investment manager of certain affiliates thereof and may be deemed to share beneficial ownership of the shares of Common Stock of which the Financial Services Fund is the record owner. 

EJF Capital LLC is the managing member of EJF Sidecar Series SFE (and the investment manager of an affiliate thereof) and the sole member of EJF Financial Services GP, LLC, and may be deemed to share beneficial ownership of the shares of Common Stock of which EJF Sidecar Series SFE is the record owner and the shares of Common Stock of which EJF Financial Services GP, LLC may share beneficial ownership.  EJF Capital LLC also separately manages accounts holding shares of Common Stock and may be deemed to share beneficial ownership of the shares of Common Stock of which the managed accounts, in the aggregate, are the record owners. 

Emanuel J. Friedman is the controlling member of EJF Capital LLC and may be deemed to share beneficial ownership of the shares of Common Stock over which EJF Capital LLC may share beneficial ownership.

 

 

Not Applicable.

 

Not Applicable.

 

Not Applicable.

 

Not Applicable.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

	EJF CAPITAL LLC
	By:	/s/ David Bell
		Name:	David Bell
		Title:	General Counsel

	EMANUEL J. FRIEDMAN
	By:	/s/ Emanuel J. Friedman
		Name:	Emanuel J. Friedman

	EJF SIDECAR FUND, SERIES LLC – SMALL FINANCIAL EQUITIES SERIES
	By: Its:	EJF CAPITAL LLC Managing Member
	By:	/s/ David Bell
		Name:	David Bell
		Title:	General Counsel

	EJF FINANCIAL SERVICES FUND, LP
	By: Its:	EJF FINANCIAL SERVICES GP, LLC General Partner
	By:	EJF CAPITAL LLC
	Its:	Sole Member
	By:	/s/ David Bell
		Name:	David Bell
		Title:	General Counsel

	EJF FINANCIAL SERVICES GP, LLC
	By: Its:	EJF CAPITAL LLC Sole Member
	By:	/s/ David Bell
		Name:	David Bell
		Title:	General Counsel

EXHIBIT A

 

The undersigned, EJF Capital LLC, a Delaware limited liability company, Emanuel J. Friedman, EJF Sidecar Fund, Series LLC – Small Financial Equities Series, a Delaware separate series limited liability company, EJF Financial Services Fund, LP, a Delaware limited partnership, and EJF Financial Services GP, LLC, a Delaware limited liability company, hereby agree and acknowledge that the information required by this Amendment No. 4 to the Schedule 13G, to which this Agreement is attached as an exhibit, is filed on behalf of each of them.  The undersigned further agree that any further amendments or supplements thereto shall also be filed on behalf of each of them.

Dated:  February 28, 2022