Jeffrey D. Shellberg - 10 Sep 2025 Form 4 Insider Report for Bridgewater Bancshares Inc (BWB)

Role
EVP AND CHIEF CREDIT OFFICER, Director
Signature
/s/ Ben Klocke, Attorney-in-Fact
Issuer symbol
BWB
Transactions as of
10 Sep 2025
Transactions value $
$409,969
Form type
4
Filing time
12 Sep 2025, 17:07:03 UTC
Previous filing
22 Aug 2025
Next filing
10 Oct 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Shellberg Jeffrey D. EVP AND CHIEF CREDIT OFFICER, Director C/O BRIDGEWATER BANCSHARES, INC., 4450 EXCELSIOR BLVD., SUITE 100, ST. LOUIS PARK /s/ Ben Klocke, Attorney-in-Fact 12 Sep 2025 0001732717

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BWB Common Stock Options Exercise $410K +54.9K +18.95% $7.47 344K 10 Sep 2025 Direct
holding BWB Common Stock 317K 10 Sep 2025 By Trust F1
holding BWB Common Stock 87K 10 Sep 2025 By Trust F2
holding BWB Common Stock 65K 10 Sep 2025 By Trust F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BWB Option to buy Options Exercise $0 -54.9K -36.59% $0.00 95.1K 10 Sep 2025 Common Stock 54.9K $7.47 Direct F4, F5
holding BWB Option to buy 25K 10 Sep 2025 Common Stock 25K $12.92 Direct F4, F6
holding BWB Option to buy 20K 10 Sep 2025 Common Stock 20K $17.50 Direct F4, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares of common stock are held by Mr. Shellberg as trustee of the Jeffrey D. Shellberg Trust under agreement dated October 1, 2014. Mr. Shellberg possesses voting and investment power with respect to the shares of common stock held by the Jeffrey D. Shellberg Trust under agreement dated October 1, 2014.
F2 Shares of common stock are held by Mr. Shellberg as trustee of the Susan K Shellberg Family Trust dated July 16, 2024. Mr. Shellberg possesses voting and investment power with respect to the shares of common stock held by the Susan K. Shellberg Family Trust dated July 16, 2024.
F3 Shares of common stock are held by Mr. Shellberg as trustee of the Susan K. Shellberg Marital Trust dated July 16, 2024. Mr. Shellberg possesses voting and investment power with respect to the shares of common stock held by the Susan K. Shellberg Marital Trust dated July 16, 2024.
F4 Options to buy granted under the 2017 Combined Incentive and Non-Statutory Stock Option Plan.
F5 Options exercisable in 20% increments on the first five anniversaries of the date of the grant which was 10/1/2017.
F6 Options exercisable in 25% increments on the first four anniversaries of the date of the grant which was 12/6/2019.
F7 Options exercisable in 25% increments on the first four anniversaries of the date of the grant which was 2/1/2022.