COIN insider filing shows RSU vesting and 14,370-share tax disposition at $302.07
Rhea-AI Filing Summary
Emilie Choi, President & COO of Coinbase Global, Inc. (COIN), reported changes in her beneficial ownership on Form 4 dated 08/20/2025. Multiple restricted stock units (RSUs) vested on that date, resulting in the acquisition of 11,166, 11,738, and 6,076 shares of Class A common stock, each recorded as $0 price because they represent vested RSUs. The filing also reports a disposition of 14,370 Class A shares in an exempt transaction at a price of $302.07 per share; those shares were relinquished and cancelled by the issuer in exchange for the issuer paying federal and state tax withholding obligations related to the RSU vesting. The report shows direct and indirect holdings after the transactions and discloses that certain shares are held in trusts and an LLC where the reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insights
TL;DR: Routine insider RSU vesting with tax-related share withholding; not a material corporate development.
The Form 4 documents scheduled vesting of multiple RSU tranches for the company's President & COO and a tax-related disposition where the issuer cancelled shares in exchange for paying withholding obligations. The transactions are consistent with executive compensation mechanics rather than open-market trading or strategic asset moves. Reported quantities include acquisitions of 11,166; 11,738; and 6,076 Class A shares via RSU vesting and a disposition of 14,370 shares at $302.07 to satisfy tax liabilities. Such filings typically have limited immediate impact on company fundamentals.
TL;DR: Disclosure follows standard Section 16 rules; trusts and LLC holdings are properly disclosed with disclaimers.
The filing discloses indirect holdings through the Starvurst Exempt Trust, Starvurst Non-Exempt Trust, and Sixers LLC and includes disclaimers of beneficial ownership where appropriate. The exempt treatment for the tax withholding disposition is explicitly cited. From a governance perspective, the filing appears complete in identifying relationship to the issuer, nature of indirect ownership, and the mechanics of the RSU vesting and withholding.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 11,166 | $0.00 | -- |
| Exercise | Restricted Stock Units | 11,738 | $0.00 | -- |
| Exercise | Restricted Stock Units | 6,076 | $0.00 | -- |
| Exercise | Class A Common Stock | 11,166 | $0.00 | -- |
| Exercise | Class A Common Stock | 11,738 | $0.00 | -- |
| Exercise | Class A Common Stock | 6,076 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 14,370 | $302.07 | $4.34M |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person. 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. These shares are held by the Starvurst Exempt Trust, of which the Reporting Person's spouse is a co-trustee. The Reporting Person disclaims beneficial ownership of these shares except to the extent of her pecuniary interest therein, if any. These shares are held by the Starvurst Non-Exempt Trust, of which the Reporting Person's spouse is a co-trustee. The Reporting Person disclaims beneficial ownership of these shares except to the extent of her pecuniary interest therein, if any. These shares are held by Sixers LLC, of which the Reporting Person and the Starvurst Non-Exempt Trust are members. The Reporting Person's spouse is a co-trustee of the Starvurst Non-Exempt Trust. The Reporting Person disclaims beneficial ownership of these shares except to the extent of her pecuniary interest therein, if any. Each RSU 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, 2023, until the award is fully vested on November 20, 2025, 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 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. 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.
