Eric M. Sprink - Nov 4, 2024 Form 4 Insider Report for COASTAL FINANCIAL CORP (CCB)

Role: CEO, Director
Signature: /s/ Melisa Nelson, as Attorney-in-fact
Stock symbol: CCB
Transactions as of: Nov 4, 2024
Transactions value $: -$438,339
Form type: 4
Date filed: 11/6/2024, 06:29 PM
Previous filing: Oct 31, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CCB	Common Stock	Sale	-$63.1K	-1K	-0.4%	$63.11	250K	Nov 4, 2024	Direct	F1, F2
transaction	CCB	Common Stock	Sale	-$128K	-2K	-0.8%	$63.76	248K	Nov 5, 2024	Direct	F1, F2
transaction	CCB	Common Stock	Sale	-$248K	-3.48K	-1.4%	$71.14	245K	Nov 6, 2024	Direct	F1, F2
holding	CCB	Common Stock						400	Nov 4, 2024	By Custodian for Child 1
holding	CCB	Common Stock						400	Nov 4, 2024	By Custodian for Child 2
holding	CCB	Common Stock						400	Nov 4, 2024	By Custodian for Child 3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id	Content
F1	Includes 50,253 time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. 11,182 of the RSUs vest in six approximately equal remaining installments; 13,376 of the RSUs vest in four approximately equal remaining installments; 12,549 of the RSUs vest in approximately three equal remaining installments; and 13,146 of the RSUs vest in approximately two equal remaining installments. 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.
F2	The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.

Content

Includes 50,253 time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. 11,182 of the RSUs vest in six approximately equal remaining installments; 13,376 of the RSUs vest in four approximately equal remaining installments; 12,549 of the RSUs vest in approximately three equal remaining installments; and 13,146 of the RSUs vest in approximately two equal remaining installments. 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.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.