Ehrsam Frederick Ernest III 4

What Happened
Fred Ehrsam, a director of Coinbase Global, Inc. (COIN), reported transactions dated June 16, 2026: he was granted 2,303 restricted stock units (RSUs) (reported as a derivative award at $0.00) and he exercised/converted 1,150 derivative shares (acquired at $0.00) with an equal number (1,150) reported as disposed the same day (at $0.00). All reported transactions show a $0.00 per-share price and no cash value disclosed on the Form 4.

Key Details

• Transaction types: A = Grant/Award (2,303 RSUs); M = Exercise/Conversion (1,150 shares acquired and 1,150 shares disposed).
• Transaction date: June 16, 2026; Form 4 filed June 18, 2026 (reporting appears timely).
• Reported prices/values: All entries listed at $0.00 per share (total cash consideration not shown).
• Shares owned after transaction: Not specified in the filing; the filing notes these securities are held by FE Management LP, of which the reporting person is a beneficiary.
• Relevant footnotes: RSUs represent contingent rights to receive one share each (F3); RSU vesting schedule referenced (vesting on the earlier of June 18, 2026 or next annual meeting for these RSUs per F6); RSUs either vest or are canceled and do not expire (F5); securities held indirectly via FE Management LP (F2).
• Filing timeliness: Form filed June 18 for June 16 transactions — within the usual two-business-day Form 4 window.

Context
RSUs are derivative awards that give a contingent right to receive shares upon vesting; they are not open-market purchases. The filing shows the same number of shares were acquired via exercise and disposed on the same day; the Form 4 does not state the reason for the disposition (e.g., sale, transfer, or withholding). These types of award vesting/exercise and immediate dispositions are common administrative events and do not, by themselves, indicate the insider’s market view.