Laura Waitz - Jan 3, 2022 Form 4 Insider Report for Bankwell Financial Group, Inc. (BWFG)

Role: EVP & Chief Operating Officer
Signature: /s/ Penko Ivanov, Attorney-in-Fact for Laura Waitz
Stock symbol: BWFG
Transactions as of: Jan 3, 2022
Transactions value $: -$43,107
Form type: 4
Date filed: 1/5/2022, 01:27 PM
Previous filing: Dec 22, 2021
Next filing: Jan 14, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BWFG	Common Stock	Tax liability	-$43.1K	-1.33K	-37.59%	$32.46	2.21K	Jan 3, 2022	Direct	F1, F2
holding	BWFG	Common Stock						3.89K	Jan 3, 2022	Direct	F3
holding	BWFG	Common Stock						500	Jan 3, 2022	Direct	F4
holding	BWFG	Common Stock						500	Jan 3, 2022	Direct	F5
holding	BWFG	Common Stock						666	Jan 3, 2022	Direct	F6

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

Explanation of Responses:

Id	Content
F1	1,328 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover the tax liability for vesting a total of 3,533 shares.
F2	Range of reported sale price is $32.03 - $33.20. Reporting person agrees to provide individual transaction information to SEC upon request.
F3	5,831 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 2,916 of those shares are restricted stock that will vest in three substantially equalannual installments, with the first installment to vest on January 2, 2022 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 2,915 of those shares are performance restricted stock and may vest when and if the performance goal is achieved. As of the transaction date, 1,944 shares have vested. An additional 389 performance based shares were granted and vested on January 2, 2022 as a result of meeting performance metrics.
F4	1,500 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. The shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on January 2, 2021 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. As of the transaction date, 1,000 shares have vested.
F5	1,500 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. The shares are performance restricted stock and may vest when and if the performance goal is achieved. As of the transaction date, 1,000 shares have vested. An additional 200 performance based shares were granted and vested on January 2, 2022 as a result of meeting performance metrics.
F6	2,000 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 1,000 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2020 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. As of the transaction date, 667 shares have vested. 1,000 of those shares are performance restricted stock and may vest when and if the performance goal is achieved. As of the transaction date, 667 shares have vested.