HOVDE STEVEN D 4

What Happened
Steven D. Hovde, listed as a 10% owner of Coastal Financial Corporation (CCB), was granted 1,333 restricted shares on 2026-05-26 (transaction code A). The filing reports an acquisition price of $0.00 (the shares were granted, not purchased). Per the filing footnote, the restricted stock vests one day prior to the issuer's 2027 Annual Shareholder Meeting.

Key Details

• Transaction date: 2026-05-26; grant price reported as $0.00 (award/grant).
• Filing date: 2026-05-28 — filed within the normal Form 4 filing window.
• Shares acquired: 1,333 restricted shares; total cash paid reported = $0.
• Shares owned after transaction: not specified in the provided filing extract.
• Footnote: Restricted stock granted under the Coastal Financial Corporation 2018 Omnibus Incentive Plan; vests one day prior to the 2027 Annual Shareholder Meeting.
• Insider status: Hovde is reported as a 10% owner (beneficial owner level), which differs from routine executive open-market trades.

Context
Restricted stock awards are compensation/incentive grants that typically cannot be sold until vesting; they are non-cash awards rather than market purchases or sales. For retail investors, this filing signals that a large shareholder received equity that will become tradable only after the stated vesting condition, but it does not by itself indicate immediate buying or selling intent.