Steven H. Brunner - Feb 7, 2025 Form 4 Insider Report for Bankwell Financial Group, Inc. (BWFG)

Role: EVP & Chief Risk Officer
Signature: /s/ Angelo G. Fusaro, Attorney-in-Fact for Steven H. Brunner
Stock symbol: BWFG
Transactions as of: Feb 7, 2025
Transactions value $: -$22,216
Form type: 4
Date filed: 2/10/2025, 02:38 PM
Previous filing: Feb 4, 2025
Next filing: Mar 17, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BWFG	Common Stock	Sale	-$22.2K	-680	-30.52%	$32.67	1.55K	Feb 7, 2025	Direct	F1, F2
transaction	BWFG	Common Stock	Award	$0	+1.49K		$0.00	1.49K	Feb 7, 2025	Direct	F3
transaction	BWFG	Common Stock	Award	$0	+249		$0.00	249	Feb 7, 2025	Direct	F4
transaction	BWFG	Common Stock	Award	$0	+498		$0.00	498	Feb 7, 2025	Direct	F5
holding	BWFG	Common Stock						3.26K	Feb 7, 2025	Direct	F6
holding	BWFG	Common Stock						666	Feb 7, 2025	Direct	F7
holding	BWFG	Common Stock						1.26K	Feb 7, 2025	Direct	F8
holding	BWFG	Common Stock						536	Feb 7, 2025	Direct	F9
holding	BWFG	Common Stock						533	Feb 7, 2025	Direct	F10

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	680 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover the tax liability for vesting a total of 1,624 shares.
F2	Range of reported sale price is $32.66 - $32.85. Reporting person agrees to provide individual transaction information to SEC upon request.
F3	1,493 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 746 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. 746 of those shares are performance restricted stock with a three year cliff vesting on February 7, 2028 if the performance goals are achieved.
F4	249 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	498 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 have vested and 542 performance shares have been forfeited.
F7	2,000 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. The shares are restricted stock that will vest in three substantially equal annual installments, with the first installment vested on August 31, 2023 and the second, and third installments to vest on each annual anniversary of the vesting date thereafter. As of the filing date, 1,334 shares have vested.
F8	2,522 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. The shares are restricted stock that will vest in two substantially equal annual installments, with the first installment vested on March 15, 2024 and the second on March 15, 2025.
F9	1,604 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. The 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. As of the filing date, 1,068 shares have vested.
F10	1,603 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 1,603 of those shares are performance restricted stock and may vest when and if the performance goals are achieved, 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. As of the filing date, 535 shares have vested and 535 performance shares have been forfeited.