Coastal Financial (CCB) Chief Risk Officer exits with $70K payout and vested stock

Rhea-AI Filing Summary

Coastal Financial Corporation reported that its Executive Vice President and Chief Risk Officer, Andrew Stines, has resigned, effective October 1, 2025, to pursue other professional opportunities. The company stated that his resignation is not due to any disagreement with Coastal or its board of directors.

In connection with his departure, Mr. Stines will receive a lump-sum payment of $70,000. In addition, his 1,500 Restricted Stock Awards and 5,647 Restricted Stock Units that were previously unvested will be accelerated and treated as vested, providing him with the full equity benefit immediately upon leaving.

Insights

Bank governance and risk management analyst

Coastal’s chief risk officer is departing with standard cash and equity benefits.

The filing notes that Coastal Financial Corporation’s Executive Vice President and Chief Risk Officer, Andrew Stines, resigned effective October 1, 2025 to pursue other professional opportunities. The company explicitly states that the resignation is not the result of any disagreement with Coastal or its board, which is important for assessing whether the move signals internal conflict.

Mr. Stines will receive a $70,000 lump-sum payment and immediate vesting of 1,500 Restricted Stock Awards and 5,647 Restricted Stock Units. These terms look like a defined separation package, providing clarity on compensation but not addressing succession plans for the risk function. Subsequent disclosures in company filings may provide more detail on his replacement and any updates to the risk management structure.

8-K Event Classification

2 items: 5.02, 9.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

0001437958FALSE00014379582025-09-292025-09-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  September 29, 2025

COASTAL FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Washington

001-38589

56-2392007

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

5415 Evergreen Way, Everett, Washington 98203

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code:  (425) 257-9000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common stock, no par value per share			CCB			The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company   ⃞

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ⃞

Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Departure of Chief Risk Officer

On September 29, 2025, Andrew Stines resigned as Executive Vice President and Chief Risk Officer of Coastal Financial Corporation (the “Company"), effective October 1, 2025, in order to pursue other professional opportunities. Mr. Stine’s resignation is not the result of any disagreement with Coastal or its Board of Directors. In connection with his resignation, Mr. Stines will receive a lump sum payment of $70,000, and his unvested shares (totaling 1,500 Restricted Stock Awards and 5,647 Restricted Stock Units) will be accelerated and deemed vested.

Item 9.01    Financial Statements and Exhibits

(d) Exhibits

Number						Description
104						Cover Page Interactive Data File (Embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			COASTAL FINANCIAL CORPORATION
Date: October 2, 2025			By:			/s/ Brandon J. Soto
						Brandon J. Soto
						Executive Vice President and Chief Financial Officer

FAQ

Why did Coastal Financial Corporation (CCB) report an 8-K on September 29, 2025?

Coastal Financial Corporation filed the 8-K to disclose that Executive Vice President and Chief Risk Officer Andrew Stines resigned, effective October 1, 2025, and to outline his departure compensation and equity vesting.

Who is leaving Coastal Financial Corporation (CCB) and when is the resignation effective?

Executive Vice President and Chief Risk Officer Andrew Stines is resigning from Coastal Financial Corporation, with his resignation effective on October 1, 2025.

Did Coastal Financial Corporation (CCB) indicate any disagreement related to the CRO’s resignation?

The company stated that Mr. Stines’ resignation is not the result of any disagreement with Coastal Financial Corporation or its Board of Directors.

What cash payment will the departing Chief Risk Officer receive from Coastal Financial Corporation (CCB)?

In connection with his resignation, Andrew Stines will receive a lump-sum payment of $70,000 from Coastal Financial Corporation.

What happens to the equity awards of Coastal Financial Corporation’s (CCB) departing CRO?

Upon resignation, the Chief Risk Officer’s 1,500 Restricted Stock Awards and 5,647 Restricted Stock Units will be accelerated and deemed vested, giving him full vesting at departure.

Does the 8-K mention any other financial statements or exhibits for Coastal Financial Corporation (CCB)?

The 8-K lists Exhibit 104, which is the Cover Page Interactive Data File embedded within the Inline XBRL document, and does not include additional financial statements.