Coastal Financial (CCB) CEO reports 4,000-share stock sale under 10b5-1 plan
Rhea-AI Filing Summary
Coastal Financial Corp CEO Eric M. Sprink, who is also a director, reported selling company common stock under a Rule 10b5-1 trading plan. On January 9, 2026, he sold 2,000 shares at $119.25 per share and another 2,000 shares at $118.5014 per share. After these sales, he directly beneficially owned 178,884 shares of common stock.
He also reported indirect holdings of 885 shares held by his spouse and 400 shares for each of three children through custodial accounts. His reported ownership includes 38,508 time-based restricted stock units granted under the Coastal Financial Corporation 2018 Omnibus Incentive Plan, vesting in remaining installments over multiple schedules, and 100,000 performance-based restricted stock units scheduled to vest on October 4, 2027 based on specified performance goals. Each restricted stock unit represents the right to receive one share of common stock upon vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 2,000 | $119.25 | $239K |
| Sale | Common Stock | 2,000 | $118.5014 | $237K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person. 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.
FAQ
What insider transaction did CCB disclose for Coastal Financial Corp?
Coastal Financial Corp reported that CEO and director Eric M. Sprink sold company common stock. On January 9, 2026, he sold 2,000 shares at $119.25 per share and another 2,000 shares at $118.5014 per share.
Was the Coastal Financial (CCB) CEO stock sale made under a Rule 10b5-1 plan?
Yes. A footnote states that the sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person, Eric M. Sprink.
What restricted stock units (RSUs) does the CCB CEO hold according to this Form 4?
The filing states that his holdings include 38,508 time-based RSUs under the Coastal Financial Corporation 2018 Omnibus Incentive Plan, vesting over multiple remaining installments. It also includes 100,000 performance-based RSUs that vest on October 4, 2027, with the final quantity dependent on specified performance goals. Each RSU represents the right to receive one share of common stock upon vesting.
What is the relationship of the reporting person to Coastal Financial Corp (CCB)?
The reporting person, Eric M. Sprink, is identified as both a Director and an Officer of Coastal Financial Corp, with the officer title of CEO.
Does this Coastal Financial Form 4 include any derivative securities transactions?
No derivative securities transactions are listed in Table II. The table is present but does not show any acquired or disposed derivative securities; the detailed transactions reported relate to common stock and restricted stock units described in the footnotes.