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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

REXROAD JERRY L

(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/CFO

3. Date of Earliest Transaction (Month/Day/Year)
11/11/2005

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	11/11/2005		S		800	D	$14.7313	16,234	D
Common Stock	11/11/2005		S		800	D	$14.6513	15,434	D
Common Stock								4,497⁽¹⁾	I	By 401(k)
Common Stock								18,040	I	By Spouse

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 (1998)	$5.8647	11/10/2005		J	V	3,534		10/27/1999⁽²⁾	10/27/2008	Common Stock	3,534	$5.8647	38,876⁽³⁾	D
stock option right to buy (02/00)	$4.1053	11/10/2005		J	V	418		02/02/2003⁽²⁾	02/02/2010	Common Stock	418	$4.1053	4,602⁽³⁾	D
stock option right to buy (1/97)	$3.6195	11/10/2005		J	V	1,458		01/27/1998⁽²⁾	01/27/2007	Common Stock	1,458	$3.6195	9,034⁽³⁾	D
stock option right to buy (10/00)	$3.432	11/10/2005		J	V	2,581		10/24/2001⁽²⁾	10/24/2010	Common Stock	2,581	$3.432	28,393⁽³⁾	D
stock option right to buy (10/01)	$5.1367	11/10/2005		J	V	2,013		10/23/2002⁽²⁾	10/23/2011	Common Stock	2,013	$5.1367	22,145⁽³⁾	D
stock option right to buy (10/29/02)	$8.2808	11/10/2005		J	V	2,335		10/29/2003⁽⁴⁾	10/29/2012	Common Stock	2,335	$8.2808	25,688⁽³⁾	D
stock option right to buy (1999)	$4.2764	11/10/2005		J	V	2,162		11/08/2000⁽²⁾	11/08/2009	Common Stock	2,162	$4.2764	23,783⁽³⁾	D
Stock Option Right To Buy 11-15-04	$12.595	11/10/2005		J	V	2,263		11/15/2005⁽⁴⁾	11/15/2014	Common Stock	2,263	$12.595	24,890⁽³⁾	D
stock option right to buy 11/24/2003	$11.4541	11/10/2005		J	V	2,174		11/24/2004⁽⁴⁾	11/24/2013	Common Stock	2,174	$11.4541	23,916⁽³⁾	D
stock option right to buy(10/97)	$5.9868	11/10/2005		J	V	3,968		10/21/1998⁽²⁾	10/21/2007	Common Stock	3,968	$5.9868	43,650⁽³⁾	D
Stock Option Right To Buy092105-14.50	$13.1818	11/10/2005		J	V	1,540		09/21/2005⁽⁴⁾	09/21/2015	Common Stock	1,540	$13.1818	16,940⁽³⁾	D
Stock Option Right To Buy092105-17.00	$15.4545	11/10/2005		J	V	1,200		09/21/2005⁽⁴⁾	09/21/2015	Common Stock	1,200	$15.4545	13,200⁽³⁾	D

Explanation of Responses:

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

2. The option vest 20% in 5 equal installments

3. Additional shares reflect 10% stock dividend with record date of 11-10-05

4. Acceleration vesting - 100% vested as of 9-21-05

Remarks:

	By: Susan J. Cooke (POA on File)	11/14/2005
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.