Christine Chivily - Feb 7, 2022 Form 4 Insider Report for Bankwell Financial Group, Inc. (BWFG)

Signature
/s/ Penko Ivanov, Attorney-in-Fact for Christine Chivily
Stock symbol
BWFG
Transactions as of
Feb 7, 2022
Transactions value $
-$14,865
Form type
4
Date filed
2/9/2022, 12:10 PM
Previous filing
Jan 14, 2022
Next filing
Jul 6, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BWFG Common Stock Award $0 +233 +1.62% $0.00 14.6K Feb 7, 2022 Direct F1, F2, F3
transaction BWFG Common Stock Tax liability -$14.9K -439 -3.01% $33.86 14.1K Feb 8, 2022 Direct F2, F3, F4, F5
holding BWFG Common Stock 4.11K Feb 7, 2022 Direct F6
holding BWFG Common Stock 3.89K Feb 7, 2022 Direct F7
holding BWFG Common Stock 500 Feb 7, 2022 Direct F8
holding BWFG Common Stock 500 Feb 7, 2022 Direct F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 An additional 233 performance based shares were granted and vested on February 7, 2022 as a result of meeting performance metrics from previously issued grants.
F2 1,750 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 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, all shares have vested.
F3 1,750 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, all shares have vested.
F4 439 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover the tax liability for vesting a total of 1,399 shares.
F5 Range of reported sale price is $33.83 - $33.87. Reporting person agrees to provide individual transaction information to SEC upon request.
F6 4,111 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 2,056 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2023 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 2,055 of those shares are performance restricted stock and may vest when and if the performance goal is achieved.
F7 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 equal annual 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.
F8 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.
F9 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.