[144] Coinbase Global, Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 notice by a related holder of Coinbase Global, Inc. (COIN) proposes the sale of 25,000 shares of Common Stock through Goldman Sachs & Co. LLC with an aggregate market value of $7,670,000, to be sold on or about 09/04/2025 on NASD. The shares were acquired on 12/23/2019 as Class B common shares that will convert to Class A upon sale and are held by the Brian Armstrong 2018 Grantor Retained Annuity Trust. The filing lists extensive prior sales by the Brian Armstrong Living Trust during June–August 2025, including multiple transactions and varied gross proceeds. The filer certifies no undisclosed material information and states the sale will be executed through the named broker.

Insights

Securities Analyst

TL;DR: Insiders continuing to sell shares via registered broker; proposed sale small relative to total outstanding shares.

The filing documents a planned 25,000-share sale executed through Goldman Sachs, valued at $7.67 million, and details numerous recent insider dispositions by related trusts across June–August 2025. From an execution perspective, use of a major broker and Rule 144 notice compliance reduce legal/market frictions. The filing also clarifies acquisition origin (12/23/2019 private Class B grant that converts to Class A on sale), which explains eligibility for Rule 144 transfer. Overall, the data represent routine registered insider sales rather than operational changes at the issuer.

Corporate Governance Expert

TL;DR: Repeated trust-level sales raise governance transparency considerations but are disclosed under Rule 144.

The submission provides transparent disclosure of beneficial-holder sales activity, including conversion mechanics and broker involvement. Multiple recent entries for the Brian Armstrong Living Trust indicate active liquidity events by related parties; however, the filing itself contains no statements about plan adoption dates or 10b5-1 instructions. The signer affirms absence of nonpublic material information, satisfying the required certification, but the record shows consistent insider monetization that governance stakeholders may track for long-term alignment signals.

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	7670000	226159125	09/04/2025	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	06/11/2025	10000	2548232
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	06/11/2025	10000	2558690
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	06/11/2025	5000	1276546
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	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	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 propose?

The Form 144 proposes the sale of 25,000 shares of Coinbase common stock valued at $7,670,000, to be sold on or about 09/04/2025 through Goldman Sachs & Co. LLC.

Who is selling the shares according to the filing?

The shares are held by the Brian Armstrong 2018 Grantor Retained Annuity Trust and were originally acquired on 12/23/2019 as Class B common shares that convert to Class A upon sale.

Has this filer sold other Coinbase shares recently?

Yes; the filing lists numerous sales by the Brian Armstrong Living Trust during June–August 2025 with varying amounts and gross proceeds.

Which broker will execute the proposed sale?

The filing names Goldman Sachs & Co. LLC as the broker for the proposed transaction.

Does the filing indicate any undisclosed material information?

The signer represents by certification on the form that they do not know any material adverse information about the issuer that has not been publicly disclosed.