Coinbase Director Relinquishes Shares for Tax Withholding

Coinbase director Christa Davies recently had some of her company shares withheld for tax obligations. On August 20, 2026, 748 Restricted Stock Units (RSUs) vested and converted into Class A Common Stock. However, she relinquished and cancelled 57 shares to cover federal tax withholding from the RSU vesting.

The remaining shares were issued to Davies on August 20, 2026. Each of the 748 RSUs represents a contingent right to receive one share of Coinbase's Class A Common Stock.

This is not an unusual practice for executives and employees who hold company stock. It allows them to pay their taxes using the stock rather than cash.