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

Role: EVP & Chief Financial Officer
Signature: /s/ Penko Ivanov
Stock symbol: BWFG
Transactions as of: Feb 7, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/9/2022, 12:10 PM
Previous filing: Feb 1, 2022
Next filing: Jun 28, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BWFG	Common Stock	Award	$0	+133		$0.00	133	Feb 7, 2022	Direct	F1
holding	BWFG	Common Stock						4.32K	Feb 7, 2022	Direct	F2
holding	BWFG	Common Stock						2.68K	Feb 7, 2022	Direct	F3
holding	BWFG	Common Stock						500	Feb 7, 2022	Direct	F4
holding	BWFG	Common Stock						500	Feb 7, 2022	Direct	F5
holding	BWFG	Common Stock						1.48K	Feb 7, 2022	IRA
holding	BWFG	Common Stock						19K	Feb 7, 2022	Direct	F6, F7, F8

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

Explanation of Responses:

Id	Content
F1	An additional 133 performance based shares were granted and vested on February 7, 2022 as a result of meeting performance metrics from previously issued grants.
F2	4,316 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 2,158 of those shares are restricted stock that will vest in three substantially equalannual 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. 2,158 of those shares are performance restricted stock and may vest when and if the performance goal is achieved.
F3	4,028 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 2,014 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. 2,014 of those shares are performance restricted stock and may vest when and if the performance goal is achieved. As of the transaction date, 1,344 shares have vested. An additional 269 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 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.
F5	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.
F6	730 shares reported are held jointly with spouse.
F7	1,000 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.
F8	1,000 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.