Patterson Michael Robert 4

What Happened
Michael Robert Patterson, a director of Coastal Financial Corporation (CCB), was granted 1,404 restricted shares on May 26, 2026. The shares were reported as acquired at $0.00 (award/grant), so the Form 4 shows $0 cash outlay. This is a compensation/retention award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-26; transaction code: A (award/grant).
• Price: $0.00 per share; total reported cash value: $0.
• Vesting: The restricted stock vests one day prior to the issuer’s 2027 Annual Shareholder Meeting (per footnote).
• Shares owned after transaction: Not specified in this filing.
• Filing date: 2026-05-28 — the Form 4 was filed within the normal two-business-day window (timely).

Context
Restricted stock awards are commonly used for director compensation and retention; they typically vest over time and are not an immediate purchase signal. Because these shares are restricted and subject to vesting, they do not necessarily indicate the director buying or selling based on near-term views of the company.