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Coinbase executives and directors have adopted trading plans to sell up to five million shares, valued at over $900 million.
<a href="https://crypto.news/tag/coinbase/" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a>‘s leadership has approved trading plans to sell up to five million shares, equating to over $900 million, Barron’s <a href="https://www.barrons.com/articles/coinbase-stock-insider-sale-bitcoin-07ddcfd7" target="_blank" rel="noopener noreferrer nofollow">has learned</a>, citing regulatory filings disclosed with the Securities and Exchange Commission.
Under the Rule 10b5-1 provisions, which allow executives to set up pre-arranged trading schedules, Brian Armstrong, Coinbase’s co-founder and chief executive, has initiated a plan to sell as many as 3.75 million Class A shares, convertible from Class B shares held by his trust. The plan is set to start on Nov. 18 and may extend until Nov. 14, 2025.
Coinbase chief financial officer Alesia Haas has also adopted a trading plan to sell up to 153,896 Class A shares starting Jan. 2, 2025, with an end date of Dec. 31, 2025.
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Additionally, co-founder Frederick Ehrsam III plans to sell up to 866,122 Class A shares starting Nov. 25, and the exchange’s chief legal officer Paul Grewal will sell up to 151,005 Class A shares beginning Dec. 2, the report reads. Coinbase director Fred Wilson’s plan, set to start on Nov. 7, allows for the sale of up to 50,000 Class A shares. Following the news, COIN shares fell by 1.85% in pre-market trading, according to Nasdaq <a href="https://www.nasdaq.com/market-activity/stocks/coin/pre-market" target="_blank" rel="noopener noreferrer nofollow">data</a>.
These stock sales are not new for the exchange; Ehrsam III has previously <a href="https://crypto.news/coinbase-co-founder-sells-another-13m-in-shares/" target="_blank" rel="noopener noreferrer nofollow">sold</a> millions worth of Coinbase shares. Last December, crypto.news <a href="https://crypto.news/coinbase-insiders-sold-over-120m-worth-of-coin-in-december-alone-data-shows/" target="_blank" rel="noopener noreferrer nofollow">reported</a> that executives from Coinbase had sold over $120 million in COIN shares, coinciding with the stock reaching a price of $185.20, a significant increase of 450% year-to-date in 2023.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/coinbase-stock-coin-a-buy-despite-q3-revenue-miss-analyst-says/"> Coinbase stock: COIN a Buy despite Q3 revenue miss, analyst says </a>

Coinbase execs set to offload $900m in stock sales: report

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