Insider trade

Coinbase CEO Brian Armstrong sold about $9.9K of shares under a pre-set plan

Traded Nov 17, 2025 · Filed Nov 19, 2025

CoinbaseCOIN

~$9.9K
Reported value · 36 sh @ $275.91: -28.3%
stock since the trade · S&P 500 +14.8%, $263.95 → $189.29 on Oct 1

Why it stands out

The boss of Coinbase sold $9.9K 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 100% of their holdings
Routine for them: 28 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 17, 2025
Reporting period: Not applicable
Filed with the SEC: Nov 19, 2025

CEO<$25KPre-arranged plan referenced

Context

Classification

open market sale

Code S — open-market or private sale

Absolute commitment

~$9,933

Shares × reported transaction price

Timing vs results

18 days after results of Oct 30, 2025, 87 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 $263.95 on Nov 17, 2025, 74% above its 52-week low and 37% below its high, after a 32% drop over the previous 30 trading days

52-week range $151.47 (Apr 8, 2025) to $419.78 (Jul 18, 2025), 42% of the way up, from 250 adjusted closes. 30 trading days earlier: $386.07 on Oct 6, 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	+14.6%	+4.7%	+9.8%
30 days	+4.1%	+5.0%	-0.9%
90 days	-31.1%	+5.2%	-36.3%
180 days	-18.8%	+12.4%	-31.2%

Past results only. Not a forecast.

Source receipt

Record ID: 0001679788-25-000222
Filed / recorded: Nov 19, 2025, 9:28 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: Brian Armstrong
Relationship: Director, Officer, 10% owner
Officer title: Chairman and CEO
Security: Class A Common Stock
Table: Non-derivative (Table I)
Transaction date: Nov 17, 2025
Transaction code: S
Shares / units: 36
Price per share: $275.91
Acquired / disposed: Disposed (D)
Shares owned after: 0
Ownership form: Direct
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 15, 2025, during an open trading window.

Around the same time

CFO sold ~$203K of Coinbase

Scheduled in advance10mo ago

CFO sold ~$508K of Coinbase

Scheduled in advance10mo ago

CFO sold ~$791K of Coinbase

Scheduled in advance10mo ago

Why it stands out

Dates, kept separate

Context

After it was reported

Source receipt

Footnotes from the filing

Around the same time

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