Coastal Financial Corp Files 8-K on Shareholder Votes & Financials

TL;DR

Coastal Financial Corp (CCB) filed an 8-K on May 22, 2024, covering shareholder votes and financials. Nothing major to see here.

AI Summary

Coastal Financial Corporation filed an 8-K on May 28, 2024, reporting on matters submitted to a vote of security holders and financial statements as of May 22, 2024. The filing details the company's corporate information, including its address in Everett, Washington, and its standard industrial classification as State Commercial Banks.

Why It Matters

This 8-K filing provides essential updates on Coastal Financial Corporation's corporate governance and financial reporting, which are crucial for investors to understand the company's operational status and decision-making processes.

Risk Assessment

Risk Level: low — The filing is a routine 8-K reporting on shareholder votes and financial statements, with no indication of significant negative events or changes.

Key Numbers

• 0001437958-24-000080 — Accession Number (Unique identifier for the filing)
• 20240522 — Report Date (Date of the earliest event reported)

Key Players & Entities

• COASTAL FINANCIAL CORP (company) — Registrant
• May 22, 2024 (date) — Date of earliest event reported
• Everett, Washington (location) — Principal executive offices
• 001-38589 (other) — SEC File Number

FAQ

Filing Documents

• ck1437958-20240522.htm (8-K) — 36KB
• 0001437958-24-000080.txt ( ) — 157KB
• ck1437958-20240522.xsd (EX-101.SCH) — 2KB
• ck1437958-20240522_lab.xml (EX-101.LAB) — 21KB
• ck1437958-20240522_pre.xml (EX-101.PRE) — 12KB
• ck1437958-20240522_htm.xml (XML) — 3KB

07

Item 5.07 Submission of Matters to a Vote of Security Holders. Coastal Financial Corporation (the "Company") held its 2024 annual meeting of shareholders (the "Annual Meeting") on May 22, 2024. Present at the Annual Meeting in person or by proxy were holders of 10,769,678 shares of Company common stock representing approximately 80.4% of the voting power of the shares of common stock of the Company as of the close of business on March 20, 2024, the record date for the Annual Meeting, and constituting a quorum for the transaction of business. The final results for each of the matters submitted to a vote of the shareholders at the Annual Meeting are as follows: 1. The following individuals were elected as directors of the Company for a three-year term until the 2027 annual meeting of shareholders, or until their successors are elected, by the following vote: FOR WITHHELD BROKER NON-VOTES Sadhana Akella-Mishra 6,534,777 2,997,623 1,237,278 Brian T. Hamilton 9,596,595 15,284 1,157,799 Eric M. Sprink 9,283,977 326,372 1,159,329 Pamela R. Unger 7,456,308 2,076,092 1,237,278 2. The advisory non-binding vote on executive compensation paid to our named executive officers was approved by the shareholders by the following vote: FOR AGAINST ABSTAIN 9,266,515 119,619 225,745 There were 1,157,799 broker non-votes on the proposal. 3. One-year was selected on the advisory non-binding vote on the frequency of future votes on executive compensation by the following vote: 1 YEAR 2 YEARS 3 YEARS ABSTAIN 9,160,719 4,863 401,176 45,121 There were 1,157,799 broker non-votes on the proposal. Based on the results of the vote, and consistent with the recommendation of the Company's Board of Directors, the Company has determined to hold an advisory non-binding vote on executive compensation every year until the next required advisory non-binding vote on the frequency of future votes on executive compensation. 4. The selection of Moss Adams LLP as the Company's ind

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COASTAL FINANCIAL CORPORATION Date: May 24, 2024 By: /s/ Joel G. Edwards Joel G. Edwards Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR