Christine Chivily - Feb 7, 2025 Form 4 Insider Report for Bankwell Financial Group, Inc. (BWFG)

Signature
/s/ Angelo G. Fusaro, Attorney-in-Fact for Christine Chivily
Stock symbol
BWFG
Transactions as of
Feb 7, 2025
Transactions value $
-$30,737
Form type
4
Date filed
2/10/2025, 02:07 PM
Previous filing
Aug 30, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BWFG Common Stock Sale -$30.7K -942 -5.54% $32.63 16K Feb 7, 2025 Direct F1, F2
transaction BWFG Common Stock Award $0 +1.47K $0.00 1.47K Feb 7, 2025 Direct F3
transaction BWFG Common Stock Award $0 +245 $0.00 245 Feb 7, 2025 Direct F4
transaction BWFG Common Stock Award $0 +490 $0.00 490 Feb 7, 2025 Direct F5
holding BWFG Common Stock 3.26K Feb 7, 2025 Direct F6
holding BWFG Common Stock 1.53K Feb 7, 2025 Direct F7
holding BWFG Common Stock 1.67K Feb 7, 2025 Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 942 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover the tax liability for vesting a total of 2,540 shares.
F2 Range of reported sale price is $32.23 - $32.87. Reporting person agrees to provide individual transaction information to SEC upon request.
F3 1,470 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 735 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2026 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 735 of those shares are performance restricted stock with a three year cliff vesting on February 7, 2028 if the performance goals are achieved.
F4 245 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. These shares are performance restricted stock with a one year cliff vesting on February 7, 2026 if the performance goals are achieved.
F5 490 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. These shares are performance restricted stock with a two year cliff vesting on February 7, 2027 if the performance goals are achieved.
F6 4,894 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 2,447 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment vested on February 7, 2025 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 2,447 of those shares are performance restricted stock and may vest when and if the performance goals are achieved. As of the filing date, 1,090 shares vested and 542 shares were forfeited.
F7 4,589 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 2,295 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment vested on February 7, 2024 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 2,294 of those shares are performance restricted stock and may vest when and if the performance goals are achieved. As of the filing date, 2,295 shares have vested and 765 were forfeited.
F8 5,000 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 2,500 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment vested on July 1, 2023 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 2,500 of those shares are performance restricted stock and may vest when and if the performance goals are achieved. As of the filing date, 3,332 shares have vested.