[Form 4] COASTAL FINANCIAL CORP Insider Trading Activity

Rhea-AI Filing Summary

Coastal Financial Corp (CCB) CEO and director Eric M. Sprink reported sales of company common stock under a pre-established Rule 10b5-1 plan adopted June 5, 2025. The filing shows three open-market sales: 10,500 shares on 09/15/2025 at $108.82, 4,000 shares on 09/16/2025 at $107.90, and 5,000 shares on 09/17/2025 at $110.21. After these transactions the reporting person disclosed 221,694 shares beneficially owned (direct), plus indirect holdings of 400 shares each held by three custodians for children and 885 shares held by spouse. The filing also notes inclusion of 38,508 time-based RSUs with staggered vesting and 100,000 performance-based RSUs that vest October 4, 2027, subject to performance goals.

Positive

• Sales executed under a Rule 10b5-1 plan, indicating pre-arranged compliance with insider trading rules
• Reporting person retains a large direct holding of 221,694 shares after disposals
• Significant equity alignment remains via 38,508 time-based RSUs and 100,000 performance-based RSUs

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider executed a planned selling program, reducing direct holdings modestly while retaining sizable equity and vested/unvested RSUs.

The reported sales were executed under a Rule 10b5-1 plan, which indicates pre-arranged disposition rather than opportunistic trading. Total disclosed open-market disposals were 19,500 shares over three days at prices between $107.90 and $110.21. The reporting person still holds a material direct stake of 221,694 shares and material equity exposure via 38,508 time-based RSUs and 100,000 performance RSUs that may convert into shares if targets are met.

Corporate Governance Expert

TL;DR: Sales followed an established compliance vehicle (10b5-1), suggesting governance controls were used to manage insider transactions.

The submission identifies the 10b5-1 plan date (June 5, 2025) and shows multiple disposals over consecutive trading days, consistent with systematic execution. The reporting person remains both CEO and director, and retains substantial vested and unvested equity incentives, indicating ongoing alignment with shareholder interests. The filing is complete in listing direct and indirect holdings and the vesting schedule detail for time-based RSUs.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Sprink Eric M

(Last) (First) (Middle)

C/O 5415 EVERGREEN WAY

(Street)

EVERETT WA 98203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COASTAL FINANCIAL CORP [ CCB ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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	09/15/2025		S		10,500(1)	D	$108.82	230,694(2)	D
Common Stock	09/16/2025		S		4,000(1)	D	$107.9	226,694(2)	D
Common Stock	09/17/2025		S		5,000(1)	D	$110.21	221,694(2)	D
Common Stock								400	I	By Custodian for Child 1
Common Stock								400	I	By Custodian for Child 2
Common Stock								400	I	By Custodian for Child 3
Common Stock								885	I	By spouse

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. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan (dated June 5, 2025) adopted by the reporting person.

2. Includes 38,508 time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. 9,318 of the RSUs vest in five approximately equal remaining installments; 4,219 of the RSUs vest in four approximately equal remaining installments; 10,032 of the RSUs vest in three approximately equal remaining installments; 8,366 of the RSUs vest in approximately two remaining equal installments; 6,573 of the RSUs vest in approximately one remaining equal installment. 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.

Remarks:

	/s/ Melisa Nelson, as Attorney-in-fact	09/17/2025
	** 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.

FAQ

What shares did Eric M. Sprink sell under the 10b5-1 plan?

He sold 10,500 shares on 09/15/2025 at $108.82, 4,000 shares on 09/16/2025 at $107.90, and 5,000 shares on 09/17/2025 at $110.21.

How many shares does Eric M. Sprink beneficially own after the reported transactions?

He reports 221,694 shares beneficially owned (direct) after the transactions, plus specified indirect holdings.

What indirect holdings are disclosed in the Form 4?

Indirect holdings include 400 shares held by custodians for each of three children and 885 shares held by his spouse.

What restricted stock units (RSUs) are included in the ownership total?

38,508 time-based RSUs with staggered vesting and 100,000 performance-based RSUs vesting on October 4, 2027 (performance-dependent) are included.

When was the 10b5-1 trading plan adopted?

The Rule 10b5-1 trading plan was adopted on June 5, 2025 as disclosed in the Form 4.