secwatch.observer — SEC 8-K summary
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Issuer:     COASTAL FINANCIAL CORP (CCB)
CIK:        0001437958
Form:       8-K
Filed at:   2025-05-07T23:59:59+00:00
Accession:  0001437958-25-000087
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coastal Financial CFO Joel G. Edwards to retire; transition plan through April 2026
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- Joel G. Edwards, EVP and CFO, notified Company of retirement on May 7, 2025; effective upon successor or October 1, 2025.
- Edwards will work full-time until successor start or Oct 1, 2025, then part-time through April 1, 2026 (Retention Period).
- Certain unvested stock options and RSUs vest on June 30, 2025; additional vesting on April 1, 2026 subject to continued employment.
- Edwards eligible for 2025 annual bonus (performance-based, similar to 2023-2024 methodology) and severance if terminated without cause during Retention Period.
- Departure unrelated to any disagreement with board or Company.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000087/0001437958-25-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437958/000143795825000087/ck1437958-20250507.htm
  HTML page:      https://secwatch.observer/filing/0001437958-25-000087

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