CCB Form 4: President Hamilton Withholds 228 Shares on RSU Vesting
Rhea-AI Filing Summary
Brian T. Hamilton, a director and the President of Coastal Financial Corporation (CCB), reported a transaction dated 08/29/2025 on Form 4. The filing shows 228 shares were disposed of (withheld to satisfy taxes) upon partial vesting of restricted stock units granted on 9/30/2024 at a reported price of $114.50 per share. Following the transaction, Mr. Hamilton beneficially owns 86,409 shares, which includes multiple RSU grants: 18,605 RSUs vesting monthly through April 30, 2028; 23,226 performance-based RSUs eligible to vest monthly subject to stock-price conditions through April 30, 2028; 15,000 performance-based RSUs eligible to vest April 30, 2028 subject to return-on-equity performance; and 669 RSUs vesting in four remaining installments. Each RSU converts to one share on vesting.
Positive
- Continued equity ownership: Reporting person retains 86,409 shares, indicating ongoing alignment with shareholders.
- Long-term incentive design: RSUs include time-based and performance-based grants through April 30, 2028, tying compensation to multi-year outcomes.
Negative
- Shares withheld for taxes: 228 shares were disposed of to satisfy withholding upon RSU vesting, modestly reducing direct shareholdings.
- Potential dilution risk: Outstanding RSUs (time- and performance-based) may convert to shares if vesting conditions are met, increasing share count.
Insights
TL;DR: Insider tax-withholding from RSU vesting is routine and indicates continued executive equity exposure.
The reported withholding of 228 shares to cover taxes upon RSU vesting is a standard administrative action and does not indicate Open Market selling for cash. The detailed RSU schedule shows multi-year vesting and performance conditions, which aligns executive pay with long-term shareholder value. Ownership of 86,409 shares plus outstanding performance-based awards maintains alignment but the filing does not disclose voting arrangements or hedging, so governance implications are limited to incentive structure.
TL;DR: Small disposition via tax-withholding; materiality is low but RSU vesting schedules and performance conditions are investor-relevant.
The disposal of 228 shares appears solely for tax withholding on RSU vesting and is immaterial in size relative to total shares outstanding (not provided). The breakdown of RSUs shows a mix of time-based and performance-based awards through April 30, 2028, which can impact future dilution depending on actual vesting outcomes. No cash purchases or open-market trades are reported, and the filing supplies clear timelines for potential future share issuance.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 228 | $114.50 | $26K |
Footnotes (1)
- Represents shares withheld for payment of withholding taxes upon partial vesting of RSU granted 9/30/2024 Includes the following pursuant to the 2018 Coastal Financial Corporation Omnibus Incentive Plan: (1) 18,605 restricted stock units (RSUs) with remaining shares vesting monthly in an approximately equal amount through April 30, 2028 (2) Includes 23,226 performance-based RSUs which are eligible to vest on the first day of each month beginning October 1, 2024 until April 30, 2028, the quantity of which is subject to continuous employment and achievement of certain stock price conditions (3) 15,000 performance-based RSUs - eligible to vest on April 30, 2028, subject to continuous employment and achievement of return on equity that is at least 80% of company comparator peer group. (4) 669 RSUs that vest in four approximately equal remaining installments. Each RSU represents the right to receive one share of common stock upon vesting.
