Business Context and Reporting Period
Company: Coastal Financial Corporation (CCB)
Filing Type: Form 8-K (Current Report)
Event Date: May 27, 2026
Event Description: Submission of matters to a vote of security holders at the 2026 Annual Meeting of Shareholders.
Key Financial Metrics
This filing is a corporate governance report regarding shareholder voting results. It does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data.
Material Changes
No material financial changes are reported in this document. The filing details the outcome of shareholder votes on corporate governance matters.
Outlook, Risks, and Management Commentary
Shareholder Voting Results:
- Quorum: 13,853,559 shares present (approx. 91% of voting power).
- Director Elections:
- 3-Year Term (until 2029): Rilla R. Delorier, Michael R. Patterson, and Gregory A. Tisdel received majority support. Steven D. Hovde received 6,374,067 votes For and 6,372,171 votes Withheld.
- 2-Year Term (until 2028): Jeffrey M. Chapman was elected.
- Independent Auditor Ratification: Baker Tilly US, LLP was ratified for the fiscal year ending December 31, 2026 (13,810,457 For vs. 41,938 Against).
- Executive Compensation (Say-on-Pay): Approved by shareholders (12,261,568 For vs. 344,062 Against).
Investor Verification Checklist
- Verify the specific vote counts for Director nominee Steven D. Hovde, where the "For" and "Withheld" votes were nearly equal.
- Confirm the appointment of Baker Tilly US, LLP as the independent auditor for the 2026 fiscal year.
- Review the full proxy statement for details on the executive compensation package approved in the advisory vote.
- Check subsequent filings (10-K or 10-Q) for the actual financial performance of the company, as this 8-K contains no financial data.