Coinbase CEO converts 25,000 Class B; sells 25,000 Class A

Rhea-AI Filing Summary

Coinbase (COIN) Form 4: Chairman & CEO Brian Armstrong converted 25,000 shares of Class B Common Stock into Class A and, pursuant to a Rule 10b5-1 plan adopted on August 15, 2024, sold 25,000 Class A shares on October 13, 2025 across multiple trades at weighted average prices including $359.4872, $360.4771, $361.4478, $362.3486, $363.9479, and $364.1688. Following these transactions, 526 Class A shares were held indirectly by The Brian Armstrong Living Trust. Each Class B share is convertible into one Class A share and has no expiration date. The trust reported 22,731,225 Class B shares beneficially owned after the conversion.

Insider Trade Summary

Exercise and Sale: 25,000 shares ($9.03M approx. pre-tax spread)

Exercise and Sale 9 txns

Insider Armstrong Brian

Role Chairman and CEO

Sold 25,000 shs ($9.03M)

Approx. gross sale proceeds $9.03M

Approx. exercise cost $0.00

Approx. pre-tax spread $9.03M

Type	Security	Shares	Price	Value
Conversion	Class B Common Stock	25,000	$0.00	$0.00
Conversion	Class A Common Stock	25,000	$0.00	$0.00
Sale	Class A Common Stock	2,755	$359.4872	$990K
Sale	Class A Common Stock	6,433	$360.4771	$2.32M
Sale	Class A Common Stock	8,724	$361.4478	$3.15M
Sale	Class A Common Stock	5,754	$362.3486	$2.08M
Sale	Class A Common Stock	1,173	$363.9479	$427K
Sale	Class A Common Stock	161	$364.1688	$59K
holding	Class B Common Stock	--	--	--

Holdings After Transaction: Class B Common Stock — 22,731,225 contracts (Indirect, By The Brian Armstrong Living Trust); Class A Common Stock — 526 shares (Indirect, By The Brian Armstrong Living Trust); Class B Common Stock — 2,958,393 contracts (Indirect, The Ehrsam 2014 Irrevocable Trust)

Footnotes (10)

1. F1. Represents the conversion of Class B Common Stock held of record by The Brian Armstrong Living Trust into Class A Common Stock.
2. F2. The transactions reported on this line were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 15, 2024, during an open trading window.
3. F3. Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.
4. F4. Represents the weighted average sale price. The lowest price at which shares were sold was $359.02 and the highest price at which shares were sold was $359.81. The Reporting Person undertakes to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or its stockholders, full information regarding the total number of shares sold at each separate price within the ranges set forth in footnotes (4) through (9) to this Form 4.
5. F5. Represents the weighted average sale price. The lowest price at which shares were sold was $360.13 and the highest price at which shares were sold was $361.01.
6. F6. Represents the weighted average sale price. The lowest price at which shares were sold was $361.02 and the highest price at which shares were sold was $362.01.
7. F7. Represents the weighted average sale price. The lowest price at which shares were sold was $362.02 and the highest price at which shares were sold was $363.00.
8. F8. Represents the weighted average sale price. The lowest price at which shares were sold was $363.03 and the highest price at which shares were sold was $364.00.
9. F9. Represents the weighted average sale price. The lowest price at which shares were sold was $364.06 and the highest price at which shares were sold was $364.21.
10. F10. These shares are held by The Ehrsam 2014 Irrevocable Trust, of which the Reporting Person is trustee. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, if any.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did COIN CEO Brian Armstrong report on this Form 4?

He converted 25,000 Class B shares into Class A and sold 25,000 Class A shares on October 13, 2025 under a Rule 10b5-1 plan.

What prices were the COIN shares sold at on October 13, 2025?

Sales were executed at weighted average prices including $359.4872, $360.4771, $361.4478, $362.3486, $363.9479, and $364.1688.

How many Coinbase Class A shares did Armstrong hold after the transactions?

Following the reported transactions, 526 Class A shares were held indirectly by The Brian Armstrong Living Trust.

Was the COIN sale under a trading plan?

Yes. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on August 15, 2024.

What is the conversion ratio of Coinbase Class B to Class A?

Each Class B share is convertible into one Class A share and has no expiration date.

How many Class B shares did the trust report after the conversion?

The trust reported 22,731,225 Class B shares beneficially owned after the conversion.

Are there other holdings mentioned related to COIN?

Yes. 2,958,393 Class A shares are held by The Ehrsam 2014 Irrevocable Trust; Armstrong is trustee and disclaims beneficial ownership except to any pecuniary interest.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 10/15/2025 - 12:00 AM EDT Learn about SEC filing dates

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^*

Armstrong Brian

(Last) (First) (Middle)

C/O COINBASE GLOBAL, INC.

ONE MADISON AVENUE, SUITE 2400

(Street)

NEW YORK NY 10010

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Coinbase Global, Inc. [ COIN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/13/2025

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
Class A Common Stock	10/13/2025		C(1)(2)		25,000	A	$0(3)	25,526	I	By The Brian Armstrong Living Trust
Class A Common Stock	10/13/2025		S(2)		2,755	D	$359.4872(4)	22,771	I	By The Brian Armstrong Living Trust
Class A Common Stock	10/13/2025		S(2)		6,433	D	$360.4771(5)	16,338	I	By The Brian Armstrong Living Trust
Class A Common Stock	10/13/2025		S(2)		8,724	D	$361.4478(6)	7,614	I	By The Brian Armstrong Living Trust
Class A Common Stock	10/13/2025		S(2)		5,754	D	$362.3486(7)	1,860	I	By The Brian Armstrong Living Trust
Class A Common Stock	10/13/2025		S(2)		1,173	D	$363.9479(8)	687	I	By The Brian Armstrong Living Trust
Class A Common Stock	10/13/2025		S(2)		161	D	$364.1688(9)	526	I	By The Brian Armstrong Living Trust

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
Class B Common Stock	(3)	10/13/2025		C(1)(2)			25,000	(3)	(3)	Class A Common Stock	25,000	$0	22,731,225	I	By The Brian Armstrong Living Trust
Class B Common Stock	(3)							(3)	(3)	Class A Common Stock	2,958,393		2,958,393	I	The Ehrsam 2014 Irrevocable Trust(10)

Explanation of Responses:

1. Represents the conversion of Class B Common Stock held of record by The Brian Armstrong Living Trust into Class A Common Stock.

2. The transactions reported on this line were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 15, 2024, during an open trading window.

3. Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.

4. Represents the weighted average sale price. The lowest price at which shares were sold was $359.02 and the highest price at which shares were sold was $359.81. The Reporting Person undertakes to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or its stockholders, full information regarding the total number of shares sold at each separate price within the ranges set forth in footnotes (4) through (9) to this Form 4.

5. Represents the weighted average sale price. The lowest price at which shares were sold was $360.13 and the highest price at which shares were sold was $361.01.

6. Represents the weighted average sale price. The lowest price at which shares were sold was $361.02 and the highest price at which shares were sold was $362.01.

7. Represents the weighted average sale price. The lowest price at which shares were sold was $362.02 and the highest price at which shares were sold was $363.00.

8. Represents the weighted average sale price. The lowest price at which shares were sold was $363.03 and the highest price at which shares were sold was $364.00.

9. Represents the weighted average sale price. The lowest price at which shares were sold was $364.06 and the highest price at which shares were sold was $364.21.

10. These shares are held by The Ehrsam 2014 Irrevocable Trust, of which the Reporting Person is trustee. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, if any.

Remarks:

	/s/ Brian Armstrong, by Lailey Rezai, Attorney-in-Fact	10/15/2025
	** 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.