Chime financial director Shawn Carolan sells $19.2m in shares

Chime Financial's Director Shawn Carolan sold a substantial amount of Class A Common Stock shares on September 10 and 11, 2026, totalling 579,313 shares valued at approximately $19.2 million. The transactions, executed indirectly through entities where Mr. Carolan holds a managing position, had weighted average prices between $33.0549 and $33.2051 per share.

This sale occurred as Chime's stock price approached its 52-week high of $35.55, having increased by 65% over the past six months. Analysts from InvestingPro note that the stock is currently overvalued based on its Fair Value, trading at a high Price/Book multiple of 9.15. On September 10, 302,306 shares were sold at a weighted average price of $33.2051, with the largest sales made by Menlo Inflection II, L.P., MM Inflection, L.P., and Menlo Entrepreneurs Inflection Fund, L.P.

The following day, 277,007 shares were sold at a lower weighted average price of $33.0549, also primarily sold by the same entities. Mr. Carolan continues to own indirect beneficial interest in Chime Financial through various Menlo entities and a family trust, although he disclaims beneficial ownership of these indirectly held shares except for his pecuniary interest.

Concurrently, Chime Financial has agreed to acquire Stride Bank for $590 million, expected to create synergies valued at around $100 million. Post-acquisition, Stride Bank will be wholly owned by Chime Bank, N.A. Analysts have raised their price targets for Chime Financial following this acquisition, with BMO Capital raising its target to $38, Piper Sandler to $40, KeyBanc to $40, Compass Point to $42, and Canaccord to $50.