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

Rhea-AI Filing Summary

Coinbase Global, Inc. (COIN)November 20, 2025, restricted stock units (RSUs) previously granted to the executive vested and were settled into Class A common stock. Three tranches of RSUs converted into 11,166, 11,738, and 6,076 shares, each at an exercise price of $0.

To cover federal and state tax withholding from the RSU vesting, the executive had 14,370 shares relinquished back to Coinbase at a price of $257.29 per share, treated as an exempt transaction under Section 16b-3(e). After these transactions, the executive directly beneficially owned 202,434 Class A shares, with additional indirect holdings of 49,643 shares via the Starvurst Exempt Trust, 23,199 shares via the Starvurst Non-Exempt Trust, and 57,610 shares via Sixers LLC.

11/24/2025 - 04:27 PM

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

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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)
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)		11,166	A	$0	198,990(2)	D
Class A Common Stock	11/20/2025		M(1)		11,738	A	$0	210,728	D
Class A Common Stock	11/20/2025		M(1)		6,076	A	$0	216,804	D
Class A Common Stock	11/20/2025		F(3)		14,370	D	$257.29	202,434	D
Class A Common Stock								49,643	I	By Starvurst Exempt Trust(4)
Class A Common Stock								23,199	I	By Starvurst Non-Exempt Trust(5)
Class A Common Stock								57,610	I	By Sixers LLC(6)

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(7)	11/20/2025		M(1)			11,166	(8)	(9)	Class A Common Stock	11,166	$0	0	D
Restricted Stock Units	$0(7)	11/20/2025		M(1)			11,738	(10)	(9)	Class A Common Stock	11,738	$0	46,951	D
Restricted Stock Units	$0(7)	11/20/2025		M(1)			6,076	(11)	(9)	Class A Common Stock	6,076	$0	54,682	D

Explanation of Responses:

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

2. Includes 22 shares acquired on November 14, 2025, pursuant to the Issuer's 2021 Employee Stock Purchase Plan.

3. 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.

4. 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.

5. 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.

6. 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.

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

8. 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.

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

10. 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.

11. 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	11/24/2025
	** 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 in this Form 4?

The filing reports RSU vesting and related share withholding for the President & COO of Coinbase Global, Inc. on November 20, 2025, resulting in additional Class A common shares and a block of shares relinquished to pay taxes.

How many Coinbase (COIN) RSUs vested for the executive on November 20, 2025?

Three RSU awards vested and were settled into 11,166, 11,738, and 6,076 shares of Class A Common Stock, each with a $0 exercise price.

How were taxes handled on the Coinbase (COIN) RSU vesting?

The executive had 14,370 shares of Coinbase Class A Common Stock relinquished and cancelled at $257.29 per share in exchange for the company paying federal and state tax withholding obligations from the RSU vesting, in an exempt Section 16b-3(e) transaction.

How many Coinbase (COIN) shares does the executive own directly after the transactions?

Following the reported transactions, the executive directly beneficially owned 202,434 shares of Coinbase Class A Common Stock.

What indirect Coinbase (COIN) holdings are reported for the executive?

The filing lists indirect ownership of 49,643 shares via the Starvurst Exempt Trust, 23,199 shares via the Starvurst Non-Exempt Trust, and 57,610 shares via Sixers LLC, with beneficial ownership disclaimed except for any pecuniary interest.

What are the vesting terms for the Coinbase (COIN) RSU awards mentioned?

One RSU grant vests quarterly over three years from February 20, 2023 to November 20, 2025; another from February 20, 2024 to November 20, 2026; and a third from May 20, 2025 to February 20, 2028, in each case subject to continued service.