Business Context and Reporting Period
Company: Coastal Financial Corporation (CCB)
Filing Type: Form 8-K (Current Report)
Date of Report: September 9, 2025
Principal Executive Offices: Everett, Washington
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity metrics. The report focuses exclusively on a personnel change.
Material Changes
Executive Departure: On September 9, 2025, Curt T. Queyrouze resigned as President of Coastal Community Bank (a subsidiary of the Company), effective September 12, 2025.
Reason: To pursue other professional opportunities.
Disagreement: The resignation is not the result of any disagreement with Coastal Financial Corporation or its Board of Directors.
Compensatory Arrangements and Unusual Items
- Equity Awards: Mr. Queyrouze will forfeit all outstanding equity awards.
- Severance: Mr. Queyrouze will receive a lump sum payment of $155,000 in connection with his resignation.
Investor Verification Checklist
- Confirm the effective date of the President's departure (September 12, 2025).
- Verify the total compensation cost associated with the departure ($155,000 lump sum).
- Monitor subsequent filings for the appointment of a successor to the President role.
- Review the impact of forfeited equity awards on the company's share count and dilution.