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

Rhea-AI Filing Summary

Coinbase Global, Inc. (COIN) chief legal officer Paul Grewal reported multiple equity transactions related to restricted stock units (RSUs) on 11/20/2025. He acquired 3,350, 4,401, and 3,038 shares of Class A common stock at an exercise price of $0 upon vesting of previously granted RSUs, and then disposed of 5,351 shares at $257.29 per share to cover tax withholding obligations.

Following these transactions, he directly beneficially owned 87,766 shares of Coinbase Class A common stock and held remaining RSUs covering 27,341 shares. The RSU awards vest in equal quarterly installments over three-year periods ending on 11/20/2025, 11/20/2026, and 02/20/2028, subject to his continued service with the company.

Insights

Equity compensation and insider-transactions analyst

Routine RSU vesting and tax withholding transactions by Coinbase CLO.

The filing shows Paul Grewal, Coinbase’s chief legal officer, converting RSUs into Class A common shares on 11/20/2025. He received 3,350, 4,401, and 3,038 shares at an exercise price of $0, which is standard for RSU vesting and does not itself involve cash changing hands.

To satisfy federal and state tax withholding from the vesting, 5,351 shares were relinquished at a price of $257.29 per share under an exempt Section 16b-3(e) transaction. After these moves, he held 87,766 shares directly and RSUs covering 27,341 additional shares, aligning with long-term quarterly vesting schedules through 11/20/2026 and 02/20/2028.

These events are typical for senior executive equity compensation and do not, by themselves, signal a change in the company’s operating outlook. They mainly update the market on Grewal’s current share ownership and remaining unvested awards.

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).

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^*

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)
11/20/2025

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	11/20/2025		M(1)		3,350	A	$0	85,678	D
Class A Common Stock	11/20/2025		M(1)		4,401	A	$0	90,079	D
Class A Common Stock	11/20/2025		M(1)		3,038	A	$0	93,117	D
Class A Common Stock	11/20/2025		F(2)		5,351	D	$257.29	87,766	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
Restricted Stock Units	$0(3)	11/20/2025		M(1)			3,350	(4)	(5)	Class A Common Stock	3,350	$0	0	D
Restricted Stock Units	$0(3)	11/20/2025		M(1)			4,401	(6)	(5)	Class A Common Stock	4,401	$0	17,607	D
Restricted Stock Units	$0(3)	11/20/2025		M(1)			3,038	(7)	(5)	Class A Common Stock	3,038	$0	27,341	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. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.

4. 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.

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

6. 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.

7. 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/ Paul Grewal, by Lailey Rezai, Attorney-in-Fact	11/24/2025
	** Signature of Reporting Person	Date
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