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

Rhea-AI Filing Summary

Paul Grewal, Chief Legal Officer of Coinbase Global, Inc. (COIN), reported transactions dated 10/01/2025 under a Rule 10b5-1 trading plan adopted on August 28, 2024. He exercised an employee stock option to purchase 10,000 shares at an exercise price of $26.26, and immediately sold 10,000 Class A shares in multiple open-market transactions at prices ranging roughly from $340.83 to $349.70. The Form 4 shows a sequence of sales that reduced his direct Class A holdings from 92,328 to 82,328 shares, while derivative holdings add the exercised 10,000 shares, resulting in 141,722 shares beneficially owned following the transactions. The filing was signed on 10/03/2025.

Positive

• Transactions executed under a Rule 10b5-1 plan, indicating pre-arranged, documented trading
• Post-transaction beneficial ownership of 141,722 shares, showing continued stake after sales

Negative

• Selling 10,000 shares in open-market trades immediately following exercise, which reduced direct Class A holdings from 92,328 to 82,328

Insights

Insider Transactions & Compliance Analyst

Insider exercised options and sold the same number of shares under a 10b5-1 plan.

The filing discloses an exercise of 10,000 options at $26.26 and contemporaneous open-market sales totaling 10,000 Class A shares at prices between $340.83 and $349.70. The transactions were executed pursuant to a 10b5-1 trading plan adopted on August 28, 2024, which is a pre‑arranged method insiders use to trade while limiting claims of improper timing.

The reported post-transaction beneficial ownership of 141,722 shares combines direct and derivative positions, showing continued economic exposure despite the sales. The individual sale lots and disclosed weighted-average ranges provide transparent pricing detail that staff or investors can verify.

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

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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^*

Grewal Paul

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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	10/01/2025		M(1)		10,000	A	$26.26	92,328	D
Class A Common Stock	10/01/2025		S(1)		132	D	$341.2714(2)	92,196	D
Class A Common Stock	10/01/2025		S(1)		668	D	$342.4132(3)	91,528	D
Class A Common Stock	10/01/2025		S(1)		1,165	D	$343.349(4)	90,363	D
Class A Common Stock	10/01/2025		S(1)		981	D	$344.3995(5)	89,382	D
Class A Common Stock	10/01/2025		S(1)		1,735	D	$345.4662(6)	87,647	D
Class A Common Stock	10/01/2025		S(1)		2,313	D	$346.4415(7)	85,334	D
Class A Common Stock	10/01/2025		S(1)		1,342	D	$347.3983(8)	83,992	D
Class A Common Stock	10/01/2025		S(1)		1,263	D	$348.4738(9)	82,729	D
Class A Common Stock	10/01/2025		S(1)		401	D	$349.3664(10)	82,328	D

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
Employee Stock Option (right to buy)	$26.26	10/01/2025		M(1)			10,000	(11)	09/20/2030	Class A Common Stock	10,000	$0	141,722	D

Explanation of Responses:

1. The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 28, 2024, during an open trading window.

2. Represents the weighted average sale price. The lowest price at which shares were sold was $340.83 and the highest price at which shares were sold was $341.64. 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 range set forth in footnotes (2) through (10) to this Form 4.

3. Represents the weighted average sale price. The lowest price at which shares were sold was $341.90 and the highest price at which shares were sold was $342.86.

4. Represents the weighted average sale price. The lowest price at which shares were sold was $342.92 and the highest price at which shares were sold was $343.87.

5. Represents the weighted average sale price. The lowest price at which shares were sold was $343.92 and the highest price at which shares were sold was $344.90.

6. Represents the weighted average sale price. The lowest price at which shares were sold was $344.95 and the highest price at which shares were sold was $345.93.

7. Represents the weighted average sale price. The lowest price at which shares were sold was $345.95 and the highest price at which shares were sold was $346.93.

8. Represents the weighted average sale price. The lowest price at which shares were sold was $346.95 and the highest price at which shares were sold was $347.91.

9. Represents the weighted average sale price. The lowest price at which shares were sold was $347.97 and the highest price at which shares were sold was $348.96.

10. Represents the weighted average sale price. The lowest price at which shares were sold was $349.00 and the highest price at which shares were sold was $349.70.

11. 1/4 of the total shares underlying the option vested on August 31, 2021 and the remaining 3/4th of the shares underlying the option will vest in equal monthly installments thereafter until the option is fully vested on August 31, 2024, subject to the Reporting Person's continued service to the Issuer on each vesting date. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase.

Remarks:

	/s/ Paul Grewal, by Lailey Rezai, Attorney-in-Fact	10/03/2025
	** 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

What did Coinbase (COIN) insider Paul Grewal do on 10/01/2025?

He exercised 10,000 options at $26.26 and sold 10,000 Class A shares in multiple market transactions at prices between $340.83 and $349.70.

Were the trades pre-arranged or discretionary?

Yes. The trades were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 28, 2024.

How many shares does Paul Grewal beneficially own after these transactions?

The Form 4 reports 141,722 shares beneficially owned following the reported transactions.

What price range were the sales executed at?

The disclosed sale lots show weighted-average ranges with the lowest sale price at $340.83 and the highest at $349.70 across the reported lots.

When was the Form 4 signed?

The Form 4 bears a signature date of 10/03/2025.