Matt McNeill - 02 Jan 2023 Form 4 Insider Report for Bankwell Financial Group, Inc. (BWFG)

Role: EVP & Chief Banking Officer
Signature: /s/ Courtney E. Sacchetti, Attorney-in-Fact for Matt McNeill
Issuer symbol: BWFG
Transactions as of: 02 Jan 2023
Net transactions value: -$47,558
Form type: 4
Filing time: 04 Jan 2023, 14:31:07 UTC
Previous filing: 03 Mar 2022
Next filing: 27 Jan 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BWFG	Common Stock	Award	$0	+1,450	+5.8%	$0.000000	26,445	02 Jan 2023	Direct	F1
transaction	BWFG	Common Stock	Tax liability	$47,558	-1,674	-6.3%	$28.41	24,771	03 Jan 2023	Direct	F2, F3
holding	BWFG	Common Stock						9,059	02 Jan 2023	Direct	F4
holding	BWFG	Common Stock						2,896	02 Jan 2023	Direct	F5
holding	BWFG	Common Stock						3,231	02 Jan 2023	Direct	F6

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

Explanation of Responses:

Id	Content
F1	1,450 performance based shares were granted and vested on January 2, 2023 as a result of meeting performance metrics from previously issued grants.
F2	1,674 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover the tax liability for vesting a total of 4,350 shares.
F3	Range of reported sale price is $28.21 - $28.69. Reporting person agrees to provide individual transaction information to SEC upon request.
F4	9,059 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 4,530 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. 4,529 of those shares are performance restricted stock and may vest when and if the performance goal is achieved.
F5	8,696 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 4,348 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. 4,348 of those shares are performance restricted stock and may vest when and if the performance goal is achieved. As of the transaction date, 5,800 shares have vested.
F6	16,159 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 as follows: 40% on March 1, 2021, 40% on March 1, 2022 and 20% on March 1, 2023. As of the transaction date, 12,928 shares have vested.