[144] Coinbase Global, Inc. SEC Filing

Rhea-AI Filing Summary

Coinbase Global, Inc. (COIN) Form 144 notice reports a proposed sale of 25,000 shares of Common Stock through Goldman Sachs & Co. LLC with an aggregate market value of $8,175,500 and an approximate sale date of 09/15/2025. The shares were acquired 12/23/2019 from a Brian Armstrong 2018 Grantor Retained Annuity Trust as Class B common shares that will convert to Class A on sale.

The filing lists extensive prior sales by The Brian Armstrong Living Trust during June–September 2025, with multiple transactions totaling substantial share counts and gross proceeds reported for each trade. The filer certifies they are unaware of undisclosed material adverse information and notes any applicable Rule 10b5-1 plan or instruction date fields where relevant.

Positive

• Transparent disclosure of the proposed sale, broker, share count, market value, and acquisition history in accordance with Rule 144 requirements
• Detailed record of multiple prior transactions by The Brian Armstrong Living Trust, including dates and gross proceeds

Negative

• Significant insider-linked selling activity is reported across June–September 2025, indicating recurring dispositions by a related trust
• No Rule 10b5-1 plan adoption date is visible in the provided filing fields, leaving plan timing unclear

Insights

Securities Analyst

TL;DR: Insider-linked trust plans further sales of 25,000 COIN shares; numerous prior sales from the related trust occurred in June–September 2025.

The Form 144 indicates an intended brokered sale of 25,000 Common Stock shares valued at $8.18 million through Goldman Sachs on or about 09/15/2025, acquired in 2019 from a Brian Armstrong-related trust structure. The filing also documents a lengthy sequence of recent dispositions by The Brian Armstrong Living Trust across June to September 2025, with individual transactions and gross proceeds disclosed. For investors, the record is a clear, contemporaneous disclosure of insider-related sell activity; the filing itself provides transactional detail but does not include commentary on motives, volume percentages relative to total holdings, or any 10b5-1 plan dates in the visible fields.

Corporate Governance Expert

TL;DR: The filing is a standard Rule 144 notice documenting planned insider-related sales and prior recent dispositions by a related trust.

The document fulfills Rule 144 disclosure by identifying the securities, broker, acquisition history, and prior sales by the related trust. It states the seller's representation about lack of undisclosed material adverse information. The filing notes conversion mechanics from Class B to Class A tied to sales but does not show a Rule 10b5-1 plan adoption date in the provided fields. From a governance perspective, the disclosure is procedurally complete but lacks explicit plan timing information that would clarify whether some sales follow a pre-established trading plan.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	25000	8175500	226159125	09/15/2025	NASD

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	12/23/2019	Acquired Class B common shares from Issuer in private transaction; Class B common shares to be converted to Class A common shares in connection with any sales	Brian Armstrong 2018 Grantor Retained Annuity Trust			25000	12/23/2019	None

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	07/11/2025	10000	3889195
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	07/11/2025	10000	3878085
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	08/12/2025	5000	1634538
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	08/12/2025	10000	3254033
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	09/04/2025	5000	1510151.5
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	07/11/2025	5000	1942138
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	07/01/2025	10000	3389129
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	08/04/2025	5000	1585499
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	07/01/2025	5000	1690520.5
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	08/04/2025	10000	3182989
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	09/04/2025	10000	3031261
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	08/04/2025	10000	3158748
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	08/12/2025	10000	3279277
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	09/04/2025	10000	3013267
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	07/01/2025	10000	3377627
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	06/25/2025	336265	121934262.2
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	06/26/2025	113735	41303013.11
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	07/11/2025	2751	1087136.05
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	07/14/2025	165443	65485681.35
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	07/15/2025	183506	72882582.55
The Brian Armstrong Living Trust One Madison Avenue Suite 2400 New York NY 10010	Common Stock	07/16/2025	198300	78898434.03

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed for COIN report?

The notice reports a proposed sale of 25,000 shares of Coinbase common stock through Goldman Sachs with an aggregate market value of $8,175,500 and an approximate sale date of 09/15/2025.

Who originally acquired the shares to be sold on the Form 144?

The shares were acquired on 12/23/2019 from the Brian Armstrong 2018 Grantor Retained Annuity Trust as Class B shares that will convert to Class A upon sale.

Does the filing show prior insider sales?

Yes. The filing lists numerous prior sales by The Brian Armstrong Living Trust between June and September 2025 with individual gross proceeds disclosed for each transaction.

Is there a 10b5-1 trading plan adoption date shown in the filing?

No. The provided filing fields do not display a specific Rule 10b5-1 plan adoption or instruction date.

Who is the broker named for the proposed sale?

The broker listed is Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282.