Brian T. Hamilton, President of CCBX, recently reported the sale of 233 shares of Coastal Financial Corp's common stock. This transaction, filed on October 1, 2026, highlights the ongoing stock management strategies employed by executives in the banking sector.
Coastal Financial Corp, identified under the SIC code for state commercial banks, operates within a competitive landscape that requires careful financial maneuvering. The company's address is 5415 Evergreen Way, Everett, WA, and it is publicly traded.
According to the filing, Hamilton sold the shares at a price of $39.4642 each, as part of a Rule 10b5-1 trading plan. The filing explains that the shares were sold to cover withholding taxes upon the partial vesting of restricted stock units (RSUs). Following this transaction, Hamilton retains ownership of 66,421 shares of Coastal Financial Corp.
This move may affect the perception of executive stock management within the banking industry, particularly as Coastal Financial continues to grow and adapt to market conditions. The filing does not specify what actions may follow this transaction.
Additional Details on the Transaction
The filing indicates that the shares sold by Hamilton were executed under a Rule 10b5-1 trading plan, which is a pre-established schedule for buying or selling stock that allows executives to avoid accusations of insider trading. This plan was adopted by Hamilton, emphasizing a structured approach to his stock transactions.
Following the sale of the 233 shares, Hamilton's total ownership in Coastal Financial Corp stands at 66,421 shares. Notably, his remaining shares include various restricted stock units (RSUs) as part of the 2018 Coastal Financial Corporation Omnibus Incentive Plan. This plan includes 10,466 RSUs that will vest monthly until April 30, 2028, along with 2,714 RSUs vesting over four years and 502 RSUs vesting over three years. Additionally, Hamilton holds 15,000 performance-based RSUs that are contingent upon achieving specific financial metrics and continuous employment.
“Each RSU represents the right to receive one share of common stock upon vesting,” the filing states, indicating the potential for future increases in Hamilton's ownership stake in Coastal Financial Corp.
While the filing provides a comprehensive overview of the transaction and Hamilton's current holdings, it does not include information regarding any future plans Hamilton may have for his remaining shares or additional stock transactions that might occur in the near term.