Grewal Paul

Grewal Paul, Chief Legal Officer of Coinbase Global (COIN), has filed 85 Form 4 transactions across his tenure, all in the single company. The pattern is unambiguous: he has sold approximately $17.4 million in stock while executing zero open-market purchases. His recent activity, spanning late 2025 through May 2026, shows 17 sales totaling over $1.6 million, with the most concentrated cluster occurring on May 27, 2026, when he disposed of shares in six separate transactions ranging from roughly $4,500 to $103,500. Earlier clusters on February 27 and November 25-26, 2025, show similar dispersion, with individual sales between roughly $8,900 and $558,000. The selling is almost entirely tied to scheduled equity compensation events. On May 20, 2026, Paul exercised options (valued at $0 in the filings, indicating a strike price equal to market value) and immediately had shares withheld to cover taxes—a $1.49 million "F" transaction that is automatic, not discretionary. The same pattern repeated on February 20, 2026, with $867,000 in tax withholding following option exercises. These mechanical transactions, combined with a February 14, 2026 grant award, suggest the open-market sales are the only discretionary component of his trading. Notably, there are no "P" purchases anywhere in his history, meaning his bias is entirely toward liquidation rather than accumulation. The dollar values of his sales have been consistent across quarters, with no accelerating or decelerating trend in the most recent filings.