<SEC-DOCUMENT>0001437749-21-000654.txt : 20210113
<SEC-HEADER>0001437749-21-000654.hdr.sgml : 20210113
<ACCEPTANCE-DATETIME>20210113162650
ACCESSION NUMBER:		0001437749-21-000654
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20201228
FILED AS OF DATE:		20210113
DATE AS OF CHANGE:		20210113

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sprink Eric M
		CENTRAL INDEX KEY:			0001299647

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38589
		FILM NUMBER:		21526374

	MAIL ADDRESS:	
		STREET 1:		9506 N NEWPORT HWY
		CITY:			SPOKANE
		STATE:			WA
		ZIP:			99218

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COASTAL FINANCIAL CORP
		CENTRAL INDEX KEY:			0001437958
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			WA

	BUSINESS ADDRESS:	
		STREET 1:		2817 COLBY AVENUE
		CITY:			EVERETT
		STATE:			WA
		ZIP:			98201
		BUSINESS PHONE:		425-257-1652

	MAIL ADDRESS:	
		STREET 1:		2817 COLBY AVENUE
		CITY:			EVERETT
		STATE:			WA
		ZIP:			98201
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rdgdoc.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-12-28</periodOfReport>

    <issuer>
        <issuerCik>0001437958</issuerCik>
        <issuerName>COASTAL FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>CCB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001299647</rptOwnerCik>
            <rptOwnerName>Sprink Eric M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O 5415 EVERGREEN WAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>EVERETT</rptOwnerCity>
            <rptOwnerState>WA</rptOwnerState>
            <rptOwnerZipCode>98203</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <officerTitle>President &amp; CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2020-12-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4691</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>21.61</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By 401(k)</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>32762</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>400</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By custodian for child 1</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>400</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By custodian for child 2</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>400</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By custodian for child 3</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Relates to an inadvertent sale of common stock by the Administrator of the Coastal Community Bank 401(k) Plan, resulting from an administrative oversight.</footnote>
        <footnote id="F2">This Form reflects increases/decreases in beneficial ownership resulting from unit accounting procedures currently in use by the Administrator of the Coastal Community Bank 401(k) Plan.  The Coastal Community Bank Employee 401(k) Plan uses unit accounting and the number of shares that a participant is deemed to hold varies with the price of Coastal Financial Corporation.</footnote>
        <footnote id="F3">Includes 18,636 time-based restricted stock units (RSUs) pursuant to the Coastal Financial Corporation 2018 Omnibus Incentive Plan.  The RSUs vest in ten approximately equal installments commencing on February 3, 2021.  Each restricted stock unit represents the right to receive one share of common stock upon vesting.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Melisa Nelson, as Attorney-in-fact</signatureName>
        <signatureDate>2021-01-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
