Insider trade

Coinbase director Frederick Ehrsam sold ~$20.9M in shares under a pre-set plan

Traded Nov 6, 2025 · Filed Nov 10, 2025

CoinbaseCOIN

~$20.9M
Reported value · 68K sh @ $308.978: 145K
Holds after · shares reported: -35.9%
stock since the trade · S&P 500 +14.0%, $295.22 → $189.29 on Oct 1

Why it stands out

A board member of Coinbase sold $20.9M of Coinbase shares. It was planned long ago, so it says very little.

Sold under a plan set up in advance, so the timing wasn't a fresh decision
Sold 32% of their holdings
Routine for them: 10 sales in the past year
9 insiders at Coinbase sold within a month

Written from the filing's own figures. OQRO describes what was reported and never tells you what to buy or sell

View the official recordSEC Form 4 — Statement of Changes in Beneficial Ownership

All the details

Dates, kept separate

Transaction date: Nov 6, 2025
Reporting period: Not applicable
Filed with the SEC: Nov 10, 2025

DirectorIndirect holding$1M+Pre-arranged plan referenced

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$20,906,378

Shares × reported transaction price

Timing vs results

7 days after results of Oct 30, 2025, 98 days before results of Feb 12, 2026

Results dates are the company's own 8-K (Item 2.02). Many companies only let insiders trade in a window after results

Price at the time

Closed at $295.22 on Nov 6, 2025, 95% above its 52-week low and 30% below its high, after a 4% drop over the previous 30 trading days

52-week range $151.47 (Apr 8, 2025) to $419.78 (Jul 18, 2025), 54% of the way up, from 250 adjusted closes. 30 trading days earlier: $306.69 on Sep 25, 2025. Describes the past only, not a forecast

Planned / mechanical clue

Footnote references a pre-arranged trading plan (Rule 10b5-1)

Only flagged when a footnote says so; never inferred

Securities lawsuit open at the trade date

A securities lawsuit naming the company as a defendant was filed on Nov 4, 2025 in the U.S. District Court, S.D. New York. A filing is an allegation, not a finding.

5 such cases were open. Heabeart v. Coinbase, Inc., docket 1:25-cv-09197, via CourtListener (court records). Nature of suit 850, company named as first defendant

After it was reported

After	Stock	S&P 500	Difference
7 days	-13.9%	-3.4%	-10.5%
30 days	-11.5%	+0.9%	-12.4%
90 days	-45.0%	+1.6%	-46.6%
180 days	-28.8%	+8.2%	-37.0%

Past results only. Not a forecast.

Source receipt

Record ID: 0001679788-25-000210
Filed / recorded: Nov 10, 2025, 9:12 PM UTC
Added to OQRO: Oct 1, 2026, 11:17 PM UTC
Parser: form4-xml-v1
Data quality: Verified: identifiers matched exactly
Issuer: Coinbase Global, Inc.
Issuer CIK: 1679788
Ticker: COIN
Reporting person: Frederick Ernest Iii Ehrsam
Relationship: Director
Security: Class A Common Stock
Table: Non-derivative (Table I)
Transaction date: Nov 6, 2025
Transaction code: S
Shares / units: 67,663
Price per share: $308.978
Acquired / disposed: Disposed (D)
Shares owned after: 145,180
Ownership form: Indirect — By The Frederick Ernest Ehrsam III Living Trust
Amendment: No

Footnotes from the filing

The transactions reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 7, 2025, during an open trading window.
Represents the weighted average sale price. The lowest price at which shares were sold was $308.50 and the highest price at which shares were sold was $309.49.