[Form 4] Coinbase Global, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Electronic Arts Inc. (EA) filed a Form 144 indicating that insider Jacob J. Schatz intends to sell 1,500 common shares through Morgan Stanley Smith Barney on or about 15 July 2025. The shares carry an aggregate market value of $223,245 based on the filing's reference price and represent only 0.0006 % of EA’s 250,765,972 shares outstanding. The securities were originally acquired via RSU/PSU awards on 17 May 2012.

The same insider has already disposed of 3,000 shares in two Rule 10b5-1 transactions during the past three months (15 May 2025 and 16 June 2025) for combined gross proceeds of roughly $447,497. Assuming the proposed sale is executed, total insider disposals within the rolling 90-day window will reach 4,500 shares valued at about $670,742.

While the dollar amount is notable, the volume is de minimis relative to EA’s float and does not, by itself, signal a material shift in fundamentals. However, investors often monitor sustained insider selling for sentiment clues, especially when clustered within short periods.

Positive

• None.

Negative

• Continued insider selling: The same individual will have sold 4,500 shares (~$671k) within three months, which some investors may view as a bearish sentiment signal despite the small percentage of the float.

Insights

Insider-Trading Analyst

TL;DR: Small EA insider sale; cumulative 4,500 shares in 3 months, immaterial to float.

The Form 144 discloses a planned sale of 1,500 EA shares worth $223k by Jacob J. Schatz, who already liquidated 3,000 shares since May under a 10b5-1 plan. Even after inclusion of the proposed trade, the total represents less than 0.002% of shares outstanding, limiting balance-sheet or liquidity impact. Because the transactions are pre-scheduled, the informational value is tempered; nevertheless, clustered insider sales can be perceived negatively if they persist. Given the minimal size and 10b5-1 framework, I classify the filing as neutral for valuation purposes.

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)
07/11/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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	07/11/2025		C(1)(2)		27,751	A	$0(3)	28,277	I	By The Brian Armstrong Living Trust
Class A Common Stock	07/11/2025		S(2)		8,434	D	$387.736(4)	19,843	I	By The Brian Armstrong Living Trust
Class A Common Stock	07/11/2025		S(2)		14,499	D	$388.621(5)	5,344	I	By The Brian Armstrong Living Trust
Class A Common Stock	07/11/2025		S(2)		2,067	D	$389.2771(6)	3,277	I	By The Brian Armstrong Living Trust
Class A Common Stock	07/11/2025		S(2)		2,751	D	$395.1785(7)	526	I	By The Brian Armstrong Living Trust
Class A Common Stock	07/14/2025		C(1)(2)		165,443	A	$0(3)	165,969	I	By The Brian Armstrong Living Trust
Class A Common Stock	07/14/2025		S(2)		113,591	D	$395.3676(8)	52,378	I	By The Brian Armstrong Living Trust
Class A Common Stock	07/14/2025		S(2)		33,199	D	$396.4754(9)	19,179	I	By The Brian Armstrong Living Trust
Class A Common Stock	07/14/2025		S(2)		18,064	D	$397.3838(10)	1,115	I	By The Brian Armstrong Living Trust
Class A Common Stock	07/14/2025		S(2)		589	D	$398.2236(11)	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)	07/11/2025		C(1)(2)			27,751	(3)	(3)	Class A Common Stock	27,751	$0	23,428,474	I	By The Brian Armstrong Living Trust
Class B Common Stock	(3)	07/14/2025		C(1)(2)			165,443	(3)	(3)	Class A Common Stock	165,443	$0	23,263,031	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(12)

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)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Brian Armstrong Living Trust

(Last) (First) (Middle)

C/O COINBASE GLOBAL, INC.

ONE MADISON AVENUE, SUITE 2400

(Street)

NEW YORK NY 10010

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

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 $387.12 and the highest price at which shares were sold was $388.10. 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 (11) to this Form 4.

5. Represents the weighted average sale price. The lowest price at which shares were sold was $388.12 and the highest price at which shares were sold was $389.09.

6. Represents the weighted average sale price. The lowest price at which shares were sold was $389.12 and the highest price at which shares were sold was $389.485.

7. Represents the weighted average sale price. The lowest price at which shares were sold was $395.03 and the highest price at which shares were sold was $395.36.

8. Represents the weighted average sale price. The lowest price at which shares were sold was $395.00 and the highest price at which shares were sold was $395.98.

9. Represents the weighted average sale price. The lowest price at which shares were sold was $396.00 and the highest price at which shares were sold was $396.99.

10. Represents the weighted average sale price. The lowest price at which shares were sold was $397.00 and the highest price at which shares were sold was $397.955.

11. Represents the weighted average sale price. The lowest price at which shares were sold was $398.09 and the highest price at which shares were sold was $398.31.

12. 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	07/15/2025
	/s/ The Brian Armstrong Living Trust, by Lailey Rezai, Attorney-in-Fact	07/15/2025
	** 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.

FAQ

How many Electronic Arts (EA) shares are being sold under this Form 144?

The notice covers 1,500 common shares valued at approximately $223,245.

When is the planned sale date for the EA shares?

The filing lists an approximate sale date of 15 July 2025 on the NASDAQ.

Who is the insider selling EA stock and under what plan?

The seller is Jacob J. Schatz; the trades are made under a Rule 10b5-1 plan.

How many EA shares has this insider sold in the past three months?

Including the upcoming sale, the insider will have disposed of 4,500 shares since May 2025.

What percentage of EA's outstanding shares does the proposed sale represent?

The 1,500-share sale equals roughly 0.0006 % of EA’s 250,765,972 shares outstanding.