---
schema_version: "secwatch.filing_event.v1"
accession: "0001437958-25-000127"
form_type: "8-K"
ticker: "CCB"
cik: "0001437958"
company_name: "COASTAL FINANCIAL CORP"
filed_at: "2025-06-03T23:59:59+00:00"
generated_at: "2026-05-20T01:21:34.563835+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Coastal Financial removes director age cap, strengthens shareholder proposal rules

## Summary
- Removed Section 2.3 age restriction, allowing directors 72+ to serve.
- Amended Section 9.2 to permit Board to alter bylaws affecting director qualifications/terms.
- Added detailed advance notice and disclosure rules for shareholder proposals and nominations, including proxy solicitation requirements and updated timelines.
- Amendments effective May 28, 2025, following shareholder and Board approval.

## SEC filing metadata
- accession: 0001437958-25-000127
- form_type: 8-K
- ticker: CCB
- cik: 0001437958
- company_name: COASTAL FINANCIAL CORP
- filed_at: 2025-06-03T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437958/000143795825000127/0001437958-25-000127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437958/000143795825000127/ck1437958-20250528.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437958-25-000127
- JSON: https://secwatch.observer/filing/0001437958-25-000127.json
- Plain text: https://secwatch.observer/filing/0001437958-25-000127.txt

## Key facts
- Governance Changes
  COASTAL FINANCIAL CORP: Amended bylaws to remove director age limit, allow board to amend bylaws affecting director qualifications, and add detailed advance notice requirements for shareholder proposals and director nominations (effective 2025-05-28).
  - Change: bylaw amendment
  - Effective: 2025-05-28
  source text: At the 2025 annual meeting of shareholders on May 28, 2025 (the “Annual Meeting”), the shareholders of Coastal Financial Corporation (the “Company”) approved amendments to the Company’s Amended and Restated Bylaws which (i) removed Section 2.3 which prohibited the nomination, election, re-election or appointment of a person to the Board of Directors who is or will be 72 years old or older during his or her proposed term of office and (ii) amended Section 9.2 to permit the Board of Directors to amend, alter, or repeal any Bylaws in a manner that would affect the qualifications or term of office of the directors. In addition, on May 28, 2025, the Board of Directors of the Company approved amendments to the Amended and Restated Bylaws to include more detailed advance notice and disclosure requirements for shareholder proposals and director nominations, including expanded information about shareholders, nominees, and associated persons, as well as new requirements for proxy solicitation an
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437958/000143795825000127/0001437958-25-000127-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.