Coastal Financial Corporation CEO To Exercise Options and Enter Into Rule 10b5-1 Plan
21 Noviembre 2022 - 11:23AM
On November 21, 2022, Coastal Financial Corporation (the “Company”)
announced that Eric Sprink, CEO, intends to exercise vested options
relating to 190,001 shares of the Company’s common stock for
personal long-term financial and tax planning purposes. The options
were granted in 2013 and expire in April 2023. After exercising his
options, Mr. Sprink intends to enter into a pre-arranged stock
trading plan.
The stock trading plan will be designed to comply with Rule
10b5-1 of the Securities Exchange Act of 1934, as amended (the
“10b5-1 Plan”). It is expected that the 10b5-1 Plan will terminate
in late 2023 pursuant to its terms.
About Coastal Financial CorporationCoastal
Financial Corporation (NASDAQ: CCB), is an Everett,
Washington-based Bank holding company with Coastal Community Bank
(the “Bank”) a full-service commercial bank, as its sole wholly
owned banking subsidiary. The Bank operates through its 14 branches
in Snohomish, Island, and King Counties, the Internet, and its
mobile banking application. The Bank, through its CCBX division,
provides banking as a service (“BaaS”) that allows our
broker-dealer and digital financial service partners to offer their
customers banking services. As of September 30, 2022, we had total
assets of $3.13 billion, total gross loans, including loans held
for sale, of $2.55 billion, total deposits of $2.84 billion, and
total shareholders’ equity of $228.7 million. To learn more about
Coastal Community Bank visit www.coastalbank.com. Member FDIC.
Forward Looking Statements This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect our current views with respect
to, among other things, future events and our financial
performance. Any statements about our management’s expectations,
beliefs, plans, predictions, forecasts, objectives, assumptions or
future events or performance are not historical facts and may be
forward-looking. Words or phrases such as “anticipate,” “believes,”
“can,” “could,” “may,” “predicts,” “potential,” “should,” “will,”
“estimate,” “plans,” “projects,” “continuing,” “ongoing,”
“expects,” “intends” and similar words or phrases are intended to
identify forward-looking statements but are not the exclusive means
of identifying such statements. Any or all of the forward-looking
statements in this press release may turn out to be inaccurate. The
inclusion of or reference to forward-looking information in this
press release should not be regarded as a representation by us or
any other person that the future plans, estimates or expectations
contemplated by us will be achieved. We have based these
forward-looking statements on our current expectations and
projections about future events and financial trends that we
believe may affect our financial condition, results of operations,
business strategy, and financial needs. Our actual results could
differ materially from those anticipated in such forward-looking
statements as a result of risks, uncertainties and assumptions that
are difficult to predict. Factors that could cause actual results
to differ materially from those in the forward-looking statements
include, without limitation, the risks and uncertainties discussed
under “Risk Factors” in our Annual Report on Form 10-K for the most
recent period filed, our Quarterly Report on Form 10-Q for the most
recent quarter, and in any of our other filings with the SEC.
If one or more events related to these or other risks or
uncertainties materialize, or if our underlying assumptions prove
to be incorrect, actual results may differ materially from what we
anticipate. You are cautioned not to place undue reliance on
forward-looking statements. Further, any forward-looking statement
speaks only as of the date on which it is made and we undertake no
obligation to update or revise any forward-looking statement to
reflect events or circumstances after the date on which the
statement is made or to reflect the occurrence of unanticipated
events, except as required by law.
Contact: Joel EdwardsChief Financial
Officer425.357.3687Jedwards@coastalbank.com
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