SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

SHERRY STEVEN JAMES

(Last)

(First)

(Middle)

2619 OAK ST

(Street)

MYRTLE BEACH

295773129

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
COASTAL FINANCIAL CORP /DE [ CFCP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP/Marketing Group Leader

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2004

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/10/2004		J	V	614	A	$0	6,768⁽¹⁾	D
Common Stock								2,557⁽²⁾	I	By 401(k)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
stock option right to buy (02/00)	$5.4641	03/10/2004		J	V	314		02/02/2003⁽³⁾	02/02/2010	Common Stock	314	$0	3,458⁽¹⁾	D
stock option right to buy (10/00)	$4.568	03/10/2004		J	V	1,551		10/24/2001⁽³⁾	10/24/2010	Common Stock	1,551	$0	17,065⁽¹⁾	D
stock option right to buy (10/01)	$6.8369	03/10/2004		J	V	1,512		10/23/2002⁽³⁾	10/23/2011	Common Stock	1,512	$0	16,637⁽¹⁾	D
stock option right to buy (10/29/02)	$11.0218	03/10/2004		J	V	1,754		10/29/2003⁽³⁾	10/29/2012	Common Stock	1,754	$0	19,299⁽¹⁾	D
stock option right to buy (1999)	$5.6918	03/10/2004		J	V	325		11/08/2000⁽³⁾	11/08/2009	Common Stock	325	$0	3,574⁽¹⁾	D
stock option right to buy (5/98)	$10.7287	03/10/2004		J	V	1,297		05/27/1999⁽³⁾	05/27/2008	Common Stock	1,297	$0	14,268⁽¹⁾	D
stock option right to buy 11/24/2003	$15.2455	03/10/2004		J	V	1,634		11/24/2004⁽³⁾	11/24/2013	Common Stock	1,634	$0	17,969⁽¹⁾	D

Explanation of Responses:

1. Additional shares reflect 10% stock dividend with record date 03-10-04.

2. This total reflects an increase in number of shares held in 401-K plan.

3. The option vest 20% in 5 equal installments

Remarks:

	By: Susan J. Cooke (POA on File)	03/29/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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