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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
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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*
Sprink Eric M
(Last) (First) (Middle)
C/O 5415 EVERGREEN WAY
(Street)
EVERETT WA 98203
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
COASTAL FINANCIAL CORP [ CCB ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
CEO
3. Date of Earliest Transaction (Month/Day/Year)
02/05/2025
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
Common Stock 02/05/2025 M 3,383 A $6.5 234,720 D
Common Stock 02/05/2025 M 2,855 A $7.1 237,575 D
Common Stock 02/05/2025 M 2,674 A $14.91 240,249 D
Common Stock 02/05/2025 F 1,315(1) D $88.9 238,934 D
Common Stock 02/05/2025 F 4,066(2) D $88.9 234,868 D
Common Stock 02/05/2025 A 4,219(3) A $0 239,087(4) D
Common Stock 400 I By Custodian for Child 1
Common Stock 400 I By Custodian for Child 2
Common Stock 400 I By Custodian for Child 3
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
Stock Options $6.5 02/05/2025 M 3,383 01/26/2018(5) 01/26/2027 Common Stock 3,383 $0 6,765 D
Stock Options $7.1 02/05/2025 M 2,855 01/22/2019(6) 01/22/2028 Common Stock 2,855 $0 8,564 D
Stock Options $14.91 02/05/2025 M 2,674 01/22/2020(7) 01/22/2029 Common Stock 2,674 $0 10,695 D
Explanation of Responses:
1. Represents shares withheld in payment of withholding taxes upon partial vesting of RSUs granted 02/05/2024.
2. Represents shares withheld in payment of withholding taxes upon exercise of NQSO included in this filing.
3. Represents award of time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. The RSUs vest in four approximately equal installments commencing on February 5, 2026. Each restricted stock unit represents the right to receive one share of common stock upon vesting.
4. Includes 38,508 time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. 9,318 of the RSUs vest in five approximately equal remaining installments; 4,219 of the RSUs vest in four approximately equal remaining installments; 10,032 of the RSUs vest in three approximately equal remaining installments; 8,366 of the RSUs vest in approximately two remaining equal installments; 6,573 of the RSUs vest in approximately one remaining equal installment. 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.
5. Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in ten approximately equal installments commencing on January 26, 2018.
6. Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in ten approximately equal installments commencing on January 22, 2019.
7. Stock options granted pursuant to the Coastal Financial Corp. 2018 Omnibus Incentive Plan vest in ten approximately equal installments commencing on January 22, 2020.
Remarks:
/s/ Melisa Nelson, as Attorney-in-fact 02/06/2025
** 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.
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