Coinbase disclosed in its third-quarter filing with the U.S. Securities and Exchange Commission that CEO Brian Armstrong, co-founder Fred Ehrsam, and President Emilie Choi have adopted Rule 10b5-1 trading plans that could allow them to sell up to 13.6 million shares of Coinbase stock, ticker COIN. Based on the stock’s Oct. 29 closing price, the planned amount would be worth about $2.2 billion.
The filing says Armstrong’s plan covers up to 8.17 million shares. His selling window is set to run from Nov. 16, 2026 through October 2027, and any transactions would still need to meet preset price conditions. The disclosure frames these arrangements as pre-established plans rather than completed sales.
Coinbase’s filing does not say the shares have already been sold. Instead, it presents the plans as potential future disposals under Rule 10b5-1, a framework commonly used for prearranged stock trading by corporate insiders.
Coinbase said in its third-quarter filing with the U.S. Securities and Exchange Commission that CEO Brian Armstrong, co-founder Fred Ehrsam, and President Emilie Choi have adopted Rule 10b5-1 trading plans that could allow them to sell up to 13.6 million shares of Coinbase stock, COIN. Based on the Oct. 29 closing price, the shares would be worth about $2.2 billion.
The filing states that Armstrong’s plan covers up to 8.17 million shares. His selling window runs from Nov. 16, 2026 to October 2027, and any trades would need to satisfy preset price conditions.
The company said these are prearranged potential sale plans and do not mean the shares have already been sold.
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