Coinbase Global Inc. (NASDAQ: COIN) announced that board member Paul Clement will not seek re-election when his term expires at the company's 2026 annual meeting of shareholders.

Clement informed the cryptocurrency exchange of his decision on April 7, 2026, according to a company statement. The board expressed appreciation for Clement's service and contributions during his tenure.

Following Clement's departure, Coinbase's board of directors plans to reduce its size from ten members to nine members. The reduction will take effect when Clement's term concludes at the 2026 annual meeting.

The information was disclosed in a company statement based on Clement's notification to Coinbase management.