Coinbase (COIN) director Ehrsam discloses Class A and B share moves

Rhea-AI Filing Summary

Coinbase Global, Inc. director Frederick Ernest Ehrsam III reported insider transactions involving both Class A and Class B shares. On 11/28/2025, his living trust converted 1,375 shares of Class B Common Stock into 1,375 shares of Class A Common Stock at a stated price of $0. That same day, the trust sold 566 Class A shares at a weighted average price of $272.8438 and another 809 Class A shares at a weighted average price of $273.58, all under a Rule 10b5-1 trading plan adopted on August 7, 2025.

After these transactions, the filing shows 11,881 shares of Class A Common Stock held with direct ownership and 5,525,598 derivative securities representing Class B Common Stock held indirectly by The Frederick Ernest Ehrsam III Living Trust. Each Class B share is convertible into one Class A share and has no expiration date.

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
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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).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ehrsam Frederick Ernest III

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

3. Date of Earliest Transaction (Month/Day/Year)
11/28/2025

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	11/28/2025		C(1)(2)		1,375	A	$0(3)	1,375	I	By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock	11/28/2025		S(2)		566	D	$272.8438(4)	809	I	By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock	11/28/2025		S(2)		809	D	$273.58(5)	0	I	By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock								11,881	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
Class B Common Stock	(3)	11/28/2025		C(1)(2)			1,375	(3)	(3)	Class A Common Stock	1,375	$0	5,525,598	I	By The Frederick Ernest Ehrsam III Living Trust

Explanation of Responses:

1. Represents the conversion of Class B Common Stock held of record by The Frederick Ernest Ehrsam III Living Trust into Class A Common Stock.

2. The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 7, 2025, 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 $272.47 and the highest price at which shares were sold was $273.26. 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) and (5) to this Form 4.

5. Represents the weighted average sale price. The lowest price at which shares were sold was $273.47 and the highest price at which shares were sold was $273.755.

Remarks:

	/s/ Frederick Ernest Ehrsam III, by Lailey Rezai, Attorney-in-Fact	12/02/2025
	** 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).
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FAQ

What insider transaction did Coinbase (COIN) report for Frederick Ernest Ehrsam III?

The filing shows that on 11/28/2025, Frederick Ernest Ehrsam III’s living trust converted 1,375 Class B Common Stock into 1,375 Class A Common Stock and sold a total of 1,375 Class A shares in open-market transactions.

At what prices were the Coinbase (COIN) Class A shares sold by Ehrsam’s trust?

The trust sold 566 Class A shares at a weighted average price of $272.8438 and 809 Class A shares at a weighted average price of $273.58. The filing notes price ranges between $272.47 and $273.755.

How many Coinbase (COIN) shares does Ehrsam report owning after these transactions?

After the reported transactions, the filing lists 11,881 shares of Class A Common Stock with direct ownership and 5,525,598 derivative securities corresponding to Class B Common Stock held indirectly by The Frederick Ernest Ehrsam III Living Trust.

What is the relationship between Coinbase’s Class B and Class A common stock in this filing?

The filing states that each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and that the Class B shares have no expiration date.

Was the Coinbase (COIN) insider sale made under a Rule 10b5-1 trading plan?

Yes. The filing explains that the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 7, 2025, during an open trading window.

What is Ehrsam’s role at Coinbase (COIN) according to this report?

The report identifies Frederick Ernest Ehrsam III as a Director of Coinbase Global, Inc. and indicates the form is filed by one reporting person.