COSO announces Board resignation of GCP designee Boris Gutin

Rhea-AI Filing Summary

CoastalSouth Bancshares, Inc. reported that director Boris Gutin has resigned from its Board of Directors, effective November 19, 2025. He was originally designated to the Board by GCP Capital Partners and its related funds, which invested in the company’s 2017 recapitalization.

The company explains that, following its recent initial public offering and consistent with GCP’s customary practice of not having representatives serve on public company boards, Mr. Gutin determined this was an appropriate time to step down. He expressed strong support for the company, its management, and the Board, and his resignation is stated to not be due to any disagreement over operations, policies, or practices.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Understanding 8-K Material Events →

false000129710700012971072025-11-182025-11-18

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

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 18, 2025

COASTALSOUTH BANCSHARES, INC.

(Exact name of Registrant as Specified in Its Charter)

Georgia			001-42730	57-1184730
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
400 Galleria Parkway Suite 1900
Atlanta, Georgia				30339
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (678) 396-4605

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $1.00 per share		COSO		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Departure of Directors

On November 18, 2025, Mr. Boris Gutin notified the Board of Directors (the "Board") of CoastalSouth Bancshares, Inc. (the “Company”) that he is resigning from the Board of Directors, effective November 19, 2025.

Mr. Gutin was originally designated to the Board by GCP Capital Partners and its related funds, an investor in the Company's recapitalization in 2017. In connection with the Company’s recent initial public offering, and consistent with GCP's customary practice of not having representatives serve on the boards of public companies, Mr. Gutin determined that it was an appropriate time to step down.

Mr. Gutin expressed strong support for the Company, its management team, and the Board of Directors, and conveyed his appreciation for the opportunity to serve. His resignation is not the result of any disagreement with the Company on any matter relating to its operations, policies or practices.

The Board of Directors sincerely thanks Mr. Gutin for his dedicated service and valuable contributions during his tenure.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			CoastalSouth Bancshares, Inc.
Date:	November 19, 2025	By:	/s/ Stephen R. Stone
			Stephen R. Stone President and Chief Executive Officer

FAQ

Why did Boris Gutin resign from the CoastalSouth Bancshares (COSO) Board?

Mr. Boris Gutin resigned from the Board effective November 19, 2025, after determining that, in light of the Company’s recent initial public offering and GCP Capital Partners’ customary practice of not having representatives on public company boards, it was an appropriate time to step down.

Did Boris Gutin’s resignation from COSO involve any disagreement with the company?

No. The company states that Mr. Gutin’s resignation is not the result of any disagreement with CoastalSouth Bancshares on matters related to its operations, policies, or practices.

What is Boris Gutin’s connection to CoastalSouth Bancshares (COSO)?

Mr. Gutin was originally designated to the Board by GCP Capital Partners and its related funds, which were investors in CoastalSouth Bancshares’ recapitalization in 2017.

How is CoastalSouth Bancshares’ recent IPO related to this Board change?

The filing explains that in connection with the company’s recent initial public offering, and consistent with GCP Capital Partners’ practice of not having representatives on public company boards, Mr. Gutin chose to resign from the Board.

What did CoastalSouth Bancshares say about Boris Gutin’s service?

The Board of Directors expressed sincere thanks for Mr. Gutin’s dedicated service and valuable contributions during his tenure and noted his strong support for the company, management, and the Board.

Who signed the COSO 8-K reporting Boris Gutin’s resignation?

The report was signed on behalf of CoastalSouth Bancshares, Inc. by Stephen R. Stone, the company’s President and Chief Executive Officer, dated November 19, 2025.