Coastal Financial Corporation CEO To Exercise Options and Enter Into Rule 10b5-1 Plan

About this update from Coastal Financial Corporation

[{"type":"text","content":"EVERETT, Wash., Nov. 21, 2022 (GLOBE NEWSWIRE) -- 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 id...

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