Eric M. Sprink - 23 Nov 2022 Form 4 Insider Report for COASTAL FINANCIAL CORP (CCB)

Role: CEO, Director
Signature: /s/ Melisa Nelson, as Attorney-in-fact
Issuer symbol: CCB
Transactions as of: 23 Nov 2022
Transactions value $: -$556,319
Form type: 4
Filing time: 23 Nov 2022, 18:20:09 UTC
Previous filing: 22 Nov 2022
Next filing: 15 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CCB	Common Stock	Options Exercise	$530,722	+96,495	+38.49%	$5.5^*	347,195	23 Nov 2022	Direct	F1
transaction	CCB	Common Stock	Sale	-$556,319	-11,407	-3.29%	$48.77	335,788	23 Nov 2022	Direct	F1
holding	CCB	Common Stock						400	23 Nov 2022	By Custodian for Child 1
holding	CCB	Common Stock						400	23 Nov 2022	By Custodian for Child 3
holding	CCB	Common Stock						400	23 Nov 2022	By Custodian for Child 2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CCB	Stock Options	Options Exercise	-$530,722	-96,495	-100%	$5.5^*	0	23 Nov 2022	Common Stock	96,495	$5.5	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 41,201 time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. 14,909 of the RSUs vest in eight approximately equal remaining installments; 12,064 of the RSUs vest in four approximately equal remaining installments; and 14,228 of the RSUs vest in approximately four equal installments. Also includes 100,000 shares of performance-based restricted stock units that vest on October 4, 2027, the quantity of which is dependent upon achievement of specified performance goals. Each restricted stock unit represents the right to receive one share of common stock upon vesting.
F2	Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in nine approximately equal installments commencing on April 9, 2014.

Content

Includes 41,201 time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. 14,909 of the RSUs vest in eight approximately equal remaining installments; 12,064 of the RSUs vest in four approximately equal remaining installments; and 14,228 of the RSUs vest in approximately four equal installments. Also includes 100,000 shares of performance-based restricted stock units that vest on October 4, 2027, the quantity of which is dependent upon achievement of specified performance goals. Each restricted stock unit represents the right to receive one share of common stock upon vesting.

Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in nine approximately equal installments commencing on April 9, 2014.