Coinbase COIN Form 4: 869-Share Sale under 10b5-1; RSUs Vest
Rhea-AI Filing Summary
Jennifer N. Jones, Chief Accounting Officer of Coinbase Global, Inc. (COIN), reported multiple equity transactions on 08/20/2025. Several restricted stock units (RSUs) vested, resulting in issuance of Class A common stock in multiple tranches (628, 1,256, 1,320 and 1,216 shares). The filing shows 2,664 shares were surrendered and canceled in an exempt transaction for payment of federal, state and provincial tax withholding at an indicated price of $302.07 per share. Additionally, 869 shares were sold at $304.74 under a Rule 10b5-1 trading plan adopted February 29, 2024, and employee stock options with a $74.63 exercise price were recorded.
Positive
- RSU vesting was executed with clear schedules disclosed (multiple tranches totaling vested shares reported).
- Use of a Rule 10b5-1 trading plan (adopted 02/29/2024) demonstrates pre-established compliance for open-market sales.
- Tax withholding handled via exempt transaction under Section 16b-3(e), with shares relinquished and canceled as described.
Negative
- Sale of 869 shares at $304.74 reduced beneficial holdings, although size appears limited in absolute terms.
- 2,664 shares canceled for tax withholding at $302.07 reduced reported post-transaction ownership.
Insights
TL;DR: Executive received vested RSUs, relinquished shares for tax withholding, and executed a planned sale under a 10b5-1 program; transactions appear routine.
The Form 4 discloses customary equity compensation activity for an officer: multiple RSU vesting events converted to Class A shares and a tax-withholding disposition where 2,664 shares were exchanged and canceled for tax obligations at $302.07 per share. A planned sale of 869 shares at $304.74 was effected under a Rule 10b5-1 plan adopted 02/29/2024. Employee stock options with a $74.63 strike are noted with vesting schedules. These are standard executive equity-management actions and show no unusual open-market accumulation or large-scale divestiture relative to the role disclosed.
TL;DR: Transactions reflect routine vesting, tax withholding mechanics, and compliance with planned trading procedures.
The filing documents RSU settlements and option activity governed by stated vesting schedules and Rule 16b-3(e) exempt treatment for share cancellation to meet tax withholding. The explicit use of a Rule 10b5-1 trading plan (adopted 02/29/2024) for the 869-share sale indicates pre-established compliance. Dates, share counts, and prices are clearly reported, supporting transparency in insider transactions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 628 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,256 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,320 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,216 | $0.00 | -- |
| Exercise | Employee Stock Option (right to buy) | 580 | $0.00 | -- |
| Exercise | Employee Stock Option (right to buy) | 289 | $0.00 | -- |
| Exercise | Class A Common Stock | 628 | $0.00 | -- |
| Exercise | Class A Common Stock | 1,256 | $0.00 | -- |
| Exercise | Class A Common Stock | 1,320 | $0.00 | -- |
| Exercise | Class A Common Stock | 1,216 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 2,664 | $302.07 | $805K |
| Exercise | Class A Common Stock | 580 | $74.63 | $43K |
| Exercise | Class A Common Stock | 289 | $74.63 | $22K |
| Sale | Class A Common Stock | 869 | $304.74 | $265K |
Footnotes (1)
- Vesting of restricted stock units ("RSUs") previously granted to the Reporting Person. 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, state and provincial tax withholding obligations of the Reporting Person resulting from the vesting of RSUs. This transaction reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 29, 2024, during an open trading window. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock upon settlement. The RSUs vest in equal quarterly installments, with the first 1/11 vesting on May 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. RSUs do not expire; they either vest or are canceled prior to vesting date. 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. 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. 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. The options 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. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase. The options vest in equal quarterly installments, with the first 1/11 vesting on May 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. The option contains an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase.
