Coinbase (COIN) CAO Jennifer Jones: RSUs Vest, Shares Withheld

What Happened
Jennifer N. Jones, Chief Accounting Officer of Coinbase Global, reported the vesting and conversion of restricted stock units (RSUs) on August 20, 2026. A total of 4,564 RSUs converted to shares (1,321 + 1,214 + 2,029). To cover tax withholding obligations, 2,502 of those shares were relinquished (withheld) at a per-share value of $160.20, representing $400,820. The remaining net shares issued to Ms. Jones from this vesting event were 2,062 shares (4,564 vested − 2,502 withheld). This was not an open-market sale but a routine tax-withholding transaction tied to RSU vesting.

Key Details

• Transaction date: August 20, 2026. Filing date (Form 4): August 24, 2026 (filed within the typical two-business-day reporting window).
• Vesting/conversion (code M): 4,564 RSUs converted to shares (1,321; 1,214; 2,029). Reported at $0.00 per share because these were RSU conversions.
• Tax withholding (code F): 2,502 shares withheld/cancelled at $160.20 per share = $400,820. This was an exempt in-kind transaction under Rule 16b‑3(e) (issuer withheld/cancelled shares to satisfy tax obligations).
• Net shares received from this vesting: 2,062 shares.
• Total shares owned after the transaction: not disclosed in the information provided.
• Relevant footnotes: RSUs convert 1:1 to Class A common shares (F3). The reported RSUs are subject to multi-year vesting schedules (F4, F6, F7) and do not expire prior to vesting (F5). F2 explains the withholding/cancellation arrangement for tax payment.

Context

• This was a routine equity-compensation event (RSU vesting) with shares withheld to satisfy tax withholding obligations — commonly called a "cashless" or share-withholding settlement. It is not an opportunistic open-market sale or a discretionary purchase that would necessarily indicate the insider's view of the stock.
• For retail investors, purchases by insiders can be more informative than withholding-for-taxes transactions; this filing primarily documents compensation vesting and tax withholding, not new buying or selling decisions.