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

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.

Insights

Financial Analyst

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.

Corporate Governance Expert

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.

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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^*

Choi Emilie

(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)
	President & COO

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

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	08/20/2025		M(1)		11,166	A	$0	184,358	D
Class A Common Stock	08/20/2025		M(1)		11,738	A	$0	196,096	D
Class A Common Stock	08/20/2025		M(1)		6,076	A	$0	202,172	D
Class A Common Stock	08/20/2025		F(2)		14,370	D	$302.07	187,802	D
Class A Common Stock								49,643	I	By Starvurst Exempt Trust(3)
Class A Common Stock								23,199	I	By Starvurst Non-Exempt Trust(4)
Class A Common Stock								57,610	I	By Sixers LLC(5)

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
Restricted Stock Units	$0(6)	08/20/2025		M(1)			11,166	(7)	(8)	Class A Common Stock	11,166	$0	11,166	D
Restricted Stock Units	$0(6)	08/20/2025		M(1)			11,738	(9)	(8)	Class A Common Stock	11,738	$0	58,689	D
Restricted Stock Units	$0(6)	08/20/2025		M(1)			6,076	(10)	(8)	Class A Common Stock	6,076	$0	60,758	D

Explanation of Responses:

1. Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person.

2. 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.

3. 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.

4. 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.

5. 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.

6. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.

7. 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.

8. RSUs do not expire; they either vest or are canceled prior to vesting date.

9. 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.

10. 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.

Remarks:

	/s/ Emilie Choi, by Lailey Rezai, Attorney-in-Fact	08/22/2025
	** 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 transactions did Emilie Choi report on Form 4 for COIN on 08/20/2025?

The filing reports the vesting (acquisition) of RSUs resulting in 11,166; 11,738; and 6,076 Class A shares and a disposition of 14,370 Class A shares at $302.07 per share to satisfy tax withholding.

Why were 14,370 Class A shares shown as disposed at $302.07 in the Form 4?

The filing states those shares were relinquished and cancelled by the issuer in exchange for the issuer agreeing to pay federal and state tax withholding obligations arising from the vesting of RSUs, an exempt transaction under Section 16b-3(e).

How are some of Emilie Choi's Coinbase shares held according to the filing?

Certain shares are held indirectly: 49,643 shares by the Starvurst Exempt Trust, 23,199 by the Starvurst Non-Exempt Trust, and 57,610 by Sixers LLC; disclaimers note she disclaims beneficial ownership except to the extent of any pecuniary interest.

What is the reporting person's role at Coinbase as listed on the Form 4?

The Form 4 lists Emilie Choi as an officer with the title President & COO of Coinbase Global, Inc.

Do the vested RSUs have an exercise price or expiration?

Each RSU represents a contingent right to one share of Class A common stock recorded at $0; the filing notes RSUs do not expire and vest according to the disclosed schedules.