Grewal Paul 4

What Happened

• Paul Grewal, Chief Legal Officer of Coinbase (COIN), was granted 60,856 restricted stock units (RSUs) on February 14, 2026. The Form 4 records the acquisition price as $0.00 because these RSUs are a derivative award, not a cash purchase. These RSUs represent contingent rights to receive shares if and when they vest.

Key Details

• Transaction date: 2026-02-14; reported on Form 4 filed 2026-02-18.
• Type: Award/grant of RSUs (transaction code A); recorded acquisition price: $0.00.
• Shares acquired: 60,856 RSUs (each RSU converts to one share upon vesting per footnote).
• Shares owned after transaction: not specified in this Form 4.
• Notable footnotes from the filing:
  • F1: Each RSU equals the contingent right to one share of Class A common stock.
  • F2: Vesting: equal quarterly installments over three years; first 1/12 vests May 20, 2026; fully vested Feb 20, 2029, subject to continued service.
  • F3: RSUs do not expire — they either vest or are canceled before vesting.
• Filing timeliness: Form filed Feb 18, 2026; the filing does not indicate any late-reporting code in the provided information.

Context

• RSU grants are compensatory awards, not open-market purchases or sales — they do not represent immediate share ownership or a cash outlay by the insider. The RSUs will convert into actual shares only as they vest according to the schedule above, subject to Grewal’s continued employment. Such awards are common for executive compensation and do not by themselves signal a trading preference.