Coinbase Officers and Director Adopt Plans Covering 13.6 Million Listed Shares

Two Coinbase officers and one nonemployee director adopted Rule 10b5-1 plans covering 13,594,519 specifically listed shares, valued at about $2.18 billion at the Oct. 29 close; one plan also covers an undetermined number of additional shares.

Chief Executive Brian Armstrong’s plan covers up to 8,167,446 shares tied to the exercise of vested stock options. Its estimated sale period runs from Nov. 16, 2026, to Oct. 22, 2027. Sales depend on COIN reaching preset price thresholds.

Frederick Ernest Ehrsam III, a co-founder and nonemployee director, has a plan covering up to 3,866,620 Class A shares issuable upon conversion of Class B shares held by his living trust. Its estimated period runs from Dec. 7, 2026, to June 7, 2027, with sales subject to price conditions.

President and Chief Operating Officer Emilie Choi’s plan lists up to 1,560,453 shares, with an estimated period from Jan. 4 to Dec. 31, 2027. It also covers an undetermined number of shares tied to future restricted stock unit awards. The combined 13,594,519 figure excludes those additional shares.

The plans were adopted during the quarter ended Sept. 30, while an open trading window was in effect. Coinbase requires directors and officers to trade company securities through prearranged Rule 10b5-1 plans. The estimated periods may end earlier after specified transactions are completed or if certain events occur.