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

Rhea-AI Filing Summary

Form 4 filing overview: Coinbase Global, Inc. (ticker: COIN) reported insider activity for director Gokul Rajaram. On 18 June 2025, Rajaram received 1,234 Restricted Stock Units (RSUs), each representing one share of Coinbase Class A common stock. The transaction was coded “A” (award) at a price of $0, indicating an equity grant rather than an open-market purchase or sale.

Vesting schedule: The RSUs will vest on the earlier of (i) 18 June 2026 or (ii) the next Coinbase annual shareholder meeting, contingent on the director’s continued service. RSUs do not expire; they either vest or are forfeited.

Ownership impact: Following the award, Rajaram beneficially owns 1,234 derivative securities (RSUs) directly. No non-derivative share transactions, sales, or additional grants were reported in this filing.

Investor relevance: This appears to be a routine annual director compensation grant with no immediate cash outflow for the company and no dilution until the RSUs vest and convert into shares. The size—1,234 shares—is immaterial relative to Coinbase’s total shares outstanding, so market impact is expected to be negligible.

Insights

Corporate Governance Expert

TL;DR: Routine director equity grant; no governance red flags, neutral market impact.

The filing reflects standard board compensation practice—granting RSUs to align director incentives with shareholder interests. Vesting is service-based and typical for tech companies (one-year or next AGM). No accelerated vesting clauses or unusual control provisions appear. Because the grant is modest—1,234 shares—it does not materially dilute existing holders or signal insider confidence changes. Governance posture remains unchanged, so I view this as administratively neutral.

Securities Analyst

TL;DR: Small, zero-cost RSU award; negligible valuation effect for COIN shareholders.

At current share counts, 1,234 potential new shares represent a fraction of a basis point of Coinbase’s float—far below thresholds that affect per-share metrics. No purchase or sale gives price-directional signals; therefore investor takeaway is minimal. The grant simply records compensation expense already forecasted in corporate guidance. I classify the event as non-impactful for valuation or sentiment.

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^*

Rajaram Gokul

(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)
06/18/2025

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

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	(1)	06/18/2025		A		1,234		(2)	(3)	Class A Common Stock	1,234	$0	1,234	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock.

2. The RSUs vest on the earlier of June 18, 2026, or the date of the next annual meeting of the stockholders of the Issuer, subject to the Reporting Person's continued service to the Issuer on the vesting date.

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

Remarks:

	/s/ Gokul Rajaram, by Lailey Rezai, Attorney-in-Fact	06/23/2025
	** 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 insider transaction did Coinbase (COIN) report on 18 June 2025?

Director Gokul Rajaram received 1,234 RSUs of Class A common stock, coded as an award (Code A) at $0 cost.

When do the newly granted RSUs to Gokul Rajaram vest?

The RSUs vest on the earlier of 18 June 2026 or the date of Coinbase’s next annual shareholder meeting.

How many Coinbase shares does the RSU award potentially add to outstanding stock?

If all RSUs vest, it would add 1,234 new shares, an immaterial amount relative to Coinbase’s total share count.

Was there any sale of Coinbase shares by the insider in this Form 4?

No. The Form 4 only shows an acquisition of RSUs; no sales or dispositions were reported.

Does this Form 4 suggest any change in Coinbase’s fundamentals?

No material change; it records a routine director compensation grant with no immediate financial impact on the company.