[Form 4] Couchbase, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Couchbase, Inc. (BASE) – Form 4 filed 18 Jun 2025: Non-employee director Aleksander J. Migon reported the award of 599 restricted stock units (RSUs) on 16 Jun 2025, coded “A” for an equity grant. Settlement of the RSUs has been deferred under the company’s non-employee director deferral program. No shares were sold or transferred for value.

After the transaction, Migon’s total beneficial ownership stands at 45,273 common shares, all held directly. The filing reflects routine director compensation and does not signal any change in strategic outlook, capital structure, or insider selling pressure.

Insights

Financial Analyst

TL;DR: Routine 599-share RSU grant; no sales; neutral to valuation.

The Form 4 discloses a standard equity compensation grant to a non-employee director, with no purchase or sale of shares. The volume (599 shares) is immaterial relative to Couchbase’s float, and the director’s post-grant stake remains modest. Because the RSUs are deferred, there is no immediate share delivery or dilution. Investors typically view such grants as neutral, indicating ongoing alignment of director incentives with shareholder interests without signaling insider sentiment. Overall, the filing lacks market-moving information.

Corporate Governance Expert

TL;DR: Deferred RSU grant aligns incentives; governance-neutral event.

The company continues to compensate outside directors predominantly in equity, consistent with modern governance practices that encourage long-term orientation. Deferral of settlement postpones share issuance and supports retention, but the magnitude is too small to affect voting power. No red flags or unusual provisions appear. Impact on governance quality or shareholder rights is negligible.

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

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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^*

Migon Aleksander J

(Last) (First) (Middle)

C/O COUCHBASE, INC.

3155 OLSEN DR., SUITE 150

(Street)

SAN JOSE CA 95117

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Couchbase, Inc. [ BASE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/16/2025

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	06/16/2025		A		599(1)	A	$0	45,273	D

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

Explanation of Responses:

1. This represents an award of restricted stock units to the Issuer's non-employee director. Each unit represents a contingent right to receive one share of the Issuer's common stock upon vesting. One hundred percent (100%) of the restricted stock units was scheduled to vest on June 16, 2025, but settlement has been deferred under our non-employee director RSU deferral program.

Remarks:

	/s/ Margaret Chow, by Power of Attorney for Aleksander J. Migon	06/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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