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*
REXROAD JERRY L
(Last) (First) (Middle)
2619 OAK ST
(Street)
MYRTLE BEACH SC 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)
05/01/2007
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)
Code V Amount (A) or (D) Price
Common Stock 05/01/2007 D 58,737 D (1) 0 D
Common Stock 05/01/2007 D 5,469 D (1) 0 I By 401(k)
Common Stock 05/01/2007 D 21,827 D (1) 0 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
stock option right to buy (10/29/02) $7.528 05/01/2007 D 28,257 10/29/2003 10/29/2012 Common Stock 28,257 (2) 0 D
Stock Option Right To Buy 11-15-04 $11.45 05/01/2007 D 27,379 11/15/2005 11/15/2014 Common Stock 27,379 (3) 0 D
stock option right to buy 11/24/2003 $10.4128 05/01/2007 D 26,308 11/24/2004 11/24/2013 Common Stock 26,308 (4) 0 D
Stock Option Right To Buy092105-14.50 $11.9835 05/01/2007 D 18,634 09/21/2005 09/21/2015 Common Stock 18,634 (5) 0 D
Stock Option Right To Buy092105-17.00 $14.0495 05/01/2007 D 14,520 09/21/2005 09/21/2015 Common Stock 14,520 (6) 0 D
Explanation of Responses:
1. Pursuant to the Agreement and Plan of Merger by and between Coastal Financial Corporation and BB&T Corporation dated December 20, 2006, each share of Coastal Financial Corporation common stock was exchanged for .385 shares of BB&T Corporation common stock.
2. Pursuant to the Agreement and Plan of Merger by and between Coasstal Financial Corporation and BB&T Corporation, this stock option was assumed by BB&T Corporation in the merger and converted into an option to purchase 10,878 shares of BB&T Corporation common stock at an exercise price of $19.55 per share.
3. Pursuant to the Agreement and Plan of Merger by and between Coasstal Financial Corporation and BB&T Corporation, this stock option was assumed by BB&T Corporation in the merger and converted into an option to purchase 10,540 shares of BB&T Corporation common stock at an exercise price of $29.74 per share.
4. Pursuant to the Agreement and Plan of Merger by and between Coasstal Financial Corporation and BB&T Corporation, this stock option was assumed by BB&T Corporation in the merger and converted into an option to purchase 10,128 shares of BB&T Corporation common stock at an exercise price of $27.05 per share.
5. Pursuant to the Agreement and Plan of Merger by and between Coasstal Financial Corporation and BB&T Corporation, this stock option was assumed by BB&T Corporation in the merger and converted into an option to purchase 7,174 shares of BB&T Corporation common stock at an exercise price of $31.13 per share.
6. Pursuant to the Agreement and Plan of Merger by and between Coasstal Financial Corporation and BB&T Corporation, this stock option was assumed by BB&T Corporation in the merger and converted into an option to purchase 5,590 shares of BB&T Corporation common stock at an exercise price of $36.49 per share.
Remarks:
By: Susan J. Cooke (POA on File) 05/02/2007
** 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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