Coinbase (COIN) CLO Paul Grewal reports RSU vesting and 7,712-share tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Coinbase Global, Inc. Chief Legal Officer Paul Grewal reported routine equity compensation activity involving restricted stock units (RSUs) and related tax withholding. On May 20, 2026, RSUs previously granted to him vested, and they were settled into shares of Class A Common Stock.
In connection with the vesting, 15,549 RSUs were converted into an equal number of Class A shares, reflecting multiple vesting tranches. To cover federal and state tax obligations from this vesting, 7,712 shares of Class A Common Stock were relinquished and cancelled at a value of $193.45 per share, with the issuer assuming the withholding liability. Footnotes state these transactions are exempt under Section 16b-3(e) and clarify that each RSU represents a contingent right to receive one Class A share, vesting in equal quarterly installments over three-year schedules through dates extending to February 20, 2029.
Positive
- None.
Negative
- None.
Insider Trade Summary
15,549 shares exercised/converted
Mixed
9 txns
Insider
Grewal Paul
Role
Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 4,402 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,038 | $0.00 | -- |
| Exercise | Restricted Stock Units | 3,038 | $0.00 | -- |
| Exercise | Restricted Stock Units | 5,071 | $0.00 | -- |
| Exercise | Class A Common Stock | 4,402 | $0.00 | -- |
| Exercise | Class A Common Stock | 3,038 | $0.00 | -- |
| Exercise | Class A Common Stock | 3,038 | $0.00 | -- |
| Exercise | Class A Common Stock | 5,071 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 7,712 | $193.45 | $1.49M |
Holdings After Transaction:
Restricted Stock Units — 8,803 shares (Direct, null);
Class A Common Stock — 83,278 shares (Direct, null)
Footnotes (1)
- Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person. Includes 102 shares acquired on May 14, 2026, pursuant to the Issuer's 2021 Employee Stock Purchase Plan. Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of RSUs. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock. The RSUs vest in equal quarterly installments over three years, with the first 1/12 vesting on February 20, 2024, until the award is fully vested on November 20, 2026, subject to the Reporting Person's continued service to the Issuer on each vesting date. RSUs do not expire; they either vest or are canceled prior to vesting date. The RSUs vest in equal quarterly installments over three years, with the first 1/12 vesting on May 20, 2025, until the award is fully vested on February 20, 2028, subject to the Reporting Person's continued service to the Issuer on each vesting date. The RSUs vest in equal quarterly installments over three years, with the first 1/12 vesting on February 20, 2026, until the award is fully vested on November 20, 2028, subject to the Reporting Person's continued service to the Issuer on each vesting date. The RSUs vest in equal quarterly installments over three years, with the first 1/12 vesting on May 20, 2026, until the award is fully vested on February 20, 2029, subject to the Reporting Person's continued service to the Issuer on each vesting date.
Key Figures
RSUs converted: 15,549 shares
Tax-withholding shares: 7,712 shares
Tax-withholding price: $193.45 per share
+3 more
6 metrics
RSUs converted
15,549 shares
Restricted stock units converted into Class A Common Stock on May 20, 2026
Tax-withholding shares
7,712 shares
Shares relinquished and cancelled to cover tax from RSU vesting
Tax-withholding price
$193.45 per share
Value used for 7,712-share tax-withholding disposition
Exercise transactions
4 transactions, 15,549 shares
Derivative exercises/conversions summarized in transaction data
Tax-withholding count
1 transaction, 7,712 shares
Single tax-withholding disposition in transaction summary
Remaining RSUs
8,803 units
Restricted Stock Units shown as remaining after latest vesting tranche
Key Terms
Restricted Stock Units, Employee Stock Purchase Plan, Section 16b-3(e), tax withholding obligations, +2 more
6 terms
Restricted Stock Units financial
"Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Employee Stock Purchase Plan financial
"Includes 102 shares acquired on May 14, 2026, pursuant to the Issuer's 2021 Employee Stock Purchase Plan."
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
Section 16b-3(e) regulatory
"Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities"
tax withholding obligations financial
"cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations"
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock."
vesting in equal quarterly installments financial
"The RSUs vest in equal quarterly installments over three years, with the first 1/12 vesting on February 20, 2024"
FAQ
What did Coinbase (COIN) executive Paul Grewal report in this Form 4?
Paul Grewal reported RSU vesting and related share movements. 15,549 restricted stock units converted into Class A Common Stock, and 7,712 shares were relinquished to cover tax withholding on the vesting, with no open-market purchases or sales disclosed.
How many Coinbase (COIN) RSUs vested for Paul Grewal in this transaction?
The summary data show 15,549 RSUs were exercised or converted into Class A Common Stock. Each RSU represents a contingent right to receive one share, and the vesting reflects several quarterly installments under multi-year RSU award schedules.
How do Paul Grewal’s Coinbase (COIN) RSUs vest over time?
Footnotes explain multiple RSU grants vest in equal quarterly installments over three years. Different awards begin vesting on specific dates, with full vesting running through November 20, 2026, February 20, 2028, and February 20, 2029, assuming continued service.
What does Section 16b-3(e) mean for this Coinbase (COIN) Form 4?
The filing states the tax-withholding transaction is exempt under Section 16b-3(e). This provision treats certain issuer-arranged transactions, like withholding shares to cover tax on equity awards, as exempt from short-swing profit rules, reflecting administrative, compensation-related activity rather than discretionary trading.