Jonathan E Sand Form 3 COASTAL FINANCIAL / Jonathan E Sand ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Sand Jonathan E

(Last) (First) (Middle)

5415 EVERGREEN WAY

(Street)

EVERETT WA 98203

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/01/2024

3. Issuer Name and Ticker or Trading Symbol
COASTAL FINANCIAL CORP [ CCB ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EVP, Chief Credit Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	17,592(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options	03/18/2015(2)	03/18/2024	Common Stock	400	5.5	D
Stock Options	07/01/2016(3)	07/01/2025	Common Stock	600	7.2	D
Stock Options	02/24/2017(4)	02/24/2026	Common Stock	600	6.25	D
Stock Options	01/26/2018(5)	01/26/2027	Common Stock	800	6.5	D
Stock Options	01/22/2019(6)	01/22/2028	Common Stock	1,000	7.1	D
Stock Options	01/22/2020(7)	01/22/2029	Common Stock	2,000	14.91	D

Explanation of Responses:

1. Includes 5,403 time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan. 726 RSUs vest in seven approximately equal remaining annual installments; 2,695 RSUs vest in three approximately equal remaining annual installments; 1,982 RSUs vest in approximately four equal remaining annual installments. Each restricted stock unit represents the right to receive one share of common stock upon vesting.

2. Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in ten approximately equal installments commencing on March 18, 2015.

3. Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in ten approximately equal installments commencing on July 1, 2016.

4. Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in ten approximately equal installments commencing on February 24, 2017.

5. Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in ten approximately equal installments commencing on January 26, 2018.

6. Stock options granted pursuant to the Coastal Financial Corp. 2006 Stock Option and Equity Compensation Plan vest in ten approximately equal installments commencing on January 22, 2019.

7. Stock options granted pursuant to the 2018 Coastal Financial Corporation Omnibus Incentive Plan vest in ten approximately equal installments commencing on January 22, 2020.

Remarks:

	/s/ Melisa Nelson, as Attorney-in-fact	01/05/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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