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COIN insider: Class B-to-A conversions and sales on Nov 6–7, 2025

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Coinbase Global (COIN) director Frederick Ernest Ehrsam III reported insider transactions via The Frederick Ernest Ehrsam III Living Trust. On 11/06/2025 and 11/07/2025, the trust converted Class B Common Stock into Class A Common Stock and executed multiple open‑market sales.

The trust converted 277,074 shares on 11/06/2025 and 19,927 shares on 11/07/2025 at $0, consistent with the stated one‑for‑one conversion terms. Sales on 11/06/2025 occurred at weighted average prices within disclosed ranges of $306.50–$316.49, and on 11/07/2025 within $285.74–$291.76. Following the final reported sales on each date, the filing shows 0 Class A shares indirectly held by the trust.

The transactions were effected under a Rule 10b5‑1 trading plan adopted on August 7, 2025 during an open trading window.

Positive

  • None.

Negative

  • None.
Insider Ehrsam Frederick Ernest III
Role Director
Sold 297,001 shs ($91.62M)
Type Security Shares Price Value
Conversion Class B Common Stock 19,927 $0.00 --
Conversion Class A Common Stock 19,927 $0.00 --
Sale Class A Common Stock 1,303 $286.2618 $373K
Sale Class A Common Stock 3,178 $287.2971 $913K
Sale Class A Common Stock 5,756 $288.1536 $1.66M
Sale Class A Common Stock 4,887 $289.1375 $1.41M
Sale Class A Common Stock 2,576 $290.3519 $748K
Sale Class A Common Stock 2,187 $291.2751 $637K
Sale Class A Common Stock 40 $291.76 $12K
Conversion Class B Common Stock 277,074 $0.00 --
Conversion Class A Common Stock 277,074 $0.00 --
Sale Class A Common Stock 37,342 $307.104 $11.47M
Sale Class A Common Stock 26,889 $308.0423 $8.28M
Sale Class A Common Stock 67,663 $308.978 $20.91M
Sale Class A Common Stock 43,221 $309.966 $13.40M
Sale Class A Common Stock 40,072 $311.0004 $12.46M
Sale Class A Common Stock 35,288 $311.8755 $11.01M
Sale Class A Common Stock 11,644 $312.8908 $3.64M
Sale Class A Common Stock 7,481 $313.9838 $2.35M
Sale Class A Common Stock 4,978 $314.844 $1.57M
Sale Class A Common Stock 2,496 $315.9341 $789K
holding Class A Common Stock -- -- --
Holdings After Transaction: Class B Common Stock — 5,585,411 shares (Indirect, By The Frederick Ernest Ehrsam III Living Trust); Class A Common Stock — 19,927 shares (Indirect, By The Frederick Ernest Ehrsam III Living Trust); Class A Common Stock — 11,881 shares (Direct)
Footnotes (1)
  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. 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. 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. Represents the weighted average sale price. The lowest price at which shares were sold was $306.50 and the highest price at which shares were sold was $307.495. 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) through (20) to this Form 4. Represents the weighted average sale price. The lowest price at which shares were sold was $307.50 and the highest price at which shares were sold was $308.49. Represents the weighted average sale price. The lowest price at which shares were sold was $308.50 and the highest price at which shares were sold was $309.49. Represents the weighted average sale price. The lowest price at which shares were sold was $309.50 and the highest price at which shares were sold was $310.49. Represents the weighted average sale price. The lowest price at which shares were sold was $310.50 and the highest price at which shares were sold was $311.49. Represents the weighted average sale price. The lowest price at which shares were sold was $311.50 and the highest price at which shares were sold was $312.49. Represents the weighted average sale price. The lowest price at which shares were sold was $312.50 and the highest price at which shares were sold was $313.49. Represents the weighted average sale price. The lowest price at which shares were sold was $313.50 and the highest price at which shares were sold was $314.49. Represents the weighted average sale price. The lowest price at which shares were sold was $314.50 and the highest price at which shares were sold was $315.38. Represents the weighted average sale price. The lowest price at which shares were sold was $315.58 and the highest price at which shares were sold was $316.49. Represents the weighted average sale price. The lowest price at which shares were sold was $285.74 and the highest price at which shares were sold was $286.73. Represents the weighted average sale price. The lowest price at which shares were sold was $286.755 and the highest price at which shares were sold was $287.725. Represents the weighted average sale price. The lowest price at which shares were sold was $287.75 and the highest price at which shares were sold was $288.73. Represents the weighted average sale price. The lowest price at which shares were sold was $288.74 and the highest price at which shares were sold was $289.68. Represents the weighted average sale price. The lowest price at which shares were sold was $289.80 and the highest price at which shares were sold was $290.73. Represents the weighted average sale price. The lowest price at which shares were sold was $290.78 and the highest price at which shares were sold was $291.69.
Form 4 Insider Transactions: What Each Field Means →
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
Estimated average burden
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)
11/06/2025
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 11/06/2025 C(1)(2) 277,074 A $0(3) 277,074 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/06/2025 S(2) 37,342 D $307.104(4) 239,732 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/06/2025 S(2) 26,889 D $308.0423(5) 212,843 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/06/2025 S(2) 67,663 D $308.978(6) 145,180 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/06/2025 S(2) 43,221 D $309.966(7) 101,959 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/06/2025 S(2) 40,072 D $311.0004(8) 61,887 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/06/2025 S(2) 35,288 D $311.8755(9) 26,599 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/06/2025 S(2) 11,644 D $312.8908(10) 14,955 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/06/2025 S(2) 7,481 D $313.9838(11) 7,474 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/06/2025 S(2) 4,978 D $314.844(12) 2,496 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/06/2025 S(2) 2,496 D $315.9341(13) 0 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/07/2025 C(1)(2) 19,927 A $0(3) 19,927 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/07/2025 S(2) 1,303 D $286.2618(14) 18,624 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/07/2025 S(2) 3,178 D $287.2971(15) 15,446 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/07/2025 S(2) 5,756 D $288.1536(16) 9,690 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/07/2025 S(2) 4,887 D $289.1375(17) 4,803 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/07/2025 S(2) 2,576 D $290.3519(18) 2,227 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/07/2025 S(2) 2,187 D $291.2751(19) 40 I By The Frederick Ernest Ehrsam III Living Trust
Class A Common Stock 11/07/2025 S(2) 40 D $291.76 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) 11/06/2025 C(1)(2) 277,074 (3) (3) Class A Common Stock 277,074 $0 5,605,338 I By The Frederick Ernest Ehrsam III Living Trust
Class B Common Stock (3) 11/07/2025 C(1)(2) 19,927 (3) (3) Class A Common Stock 19,927 $0 5,585,411 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 $306.50 and the highest price at which shares were sold was $307.495. 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) through (20) to this Form 4.
5. Represents the weighted average sale price. The lowest price at which shares were sold was $307.50 and the highest price at which shares were sold was $308.49.
6. Represents the weighted average sale price. The lowest price at which shares were sold was $308.50 and the highest price at which shares were sold was $309.49.
7. Represents the weighted average sale price. The lowest price at which shares were sold was $309.50 and the highest price at which shares were sold was $310.49.
8. Represents the weighted average sale price. The lowest price at which shares were sold was $310.50 and the highest price at which shares were sold was $311.49.
9. Represents the weighted average sale price. The lowest price at which shares were sold was $311.50 and the highest price at which shares were sold was $312.49.
10. Represents the weighted average sale price. The lowest price at which shares were sold was $312.50 and the highest price at which shares were sold was $313.49.
11. Represents the weighted average sale price. The lowest price at which shares were sold was $313.50 and the highest price at which shares were sold was $314.49.
12. Represents the weighted average sale price. The lowest price at which shares were sold was $314.50 and the highest price at which shares were sold was $315.38.
13. Represents the weighted average sale price. The lowest price at which shares were sold was $315.58 and the highest price at which shares were sold was $316.49.
14. Represents the weighted average sale price. The lowest price at which shares were sold was $285.74 and the highest price at which shares were sold was $286.73.
15. Represents the weighted average sale price. The lowest price at which shares were sold was $286.755 and the highest price at which shares were sold was $287.725.
16. Represents the weighted average sale price. The lowest price at which shares were sold was $287.75 and the highest price at which shares were sold was $288.73.
17. Represents the weighted average sale price. The lowest price at which shares were sold was $288.74 and the highest price at which shares were sold was $289.68.
18. Represents the weighted average sale price. The lowest price at which shares were sold was $289.80 and the highest price at which shares were sold was $290.73.
19. Represents the weighted average sale price. The lowest price at which shares were sold was $290.78 and the highest price at which shares were sold was $291.69.
Remarks:
/s/ Frederick Ernest Ehrsam III, by Lailey Rezai, Attorney-in-Fact 11/10/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did COIN report?

A director’s trust converted Class B into Class A shares and sold those Class A shares in multiple transactions on 11/06/2025 and 11/07/2025.

How many Coinbase shares were converted by the director’s trust?

The trust converted 277,074 Class B shares on 11/06/2025 and 19,927 on 11/07/2025 into Class A shares at $0.

At what prices were COIN shares sold?

Weighted average prices ranged from $306.50–$316.49 on 11/06/2025 and $285.74–$291.76 on 11/07/2025, per the disclosed ranges.

Was a Rule 10b5-1 trading plan used for these trades?

Yes. The filing states the transactions were made under a Rule 10b5‑1 plan adopted on August 7, 2025.

What were the director’s reported holdings after the sales?

After the final sales each day, the filing shows 0 Class A shares indirectly held by the trust.

What is the reporting person’s relationship to Coinbase (COIN)?

The reporting person is a Director of Coinbase Global, Inc.