Christine Chivily - Feb 7, 2023 Form 4 Insider Report for Bankwell Financial Group, Inc. (BWFG)

Signature
/s/ Courtney E. Sacchetti, Attorney-in-Fact for Christine Chivily
Stock symbol
BWFG
Transactions as of
Feb 7, 2023
Transactions value $
-$19,565
Form type
4
Date filed
2/9/2023, 01:20 PM
Previous filing
Jan 27, 2023
Next filing
Jul 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BWFG Common Stock Award $0 +685 +3.76% $0.00 18.9K Feb 7, 2023 Direct F1
transaction BWFG Common Stock Tax liability -$19.6K -644 -3.4% $30.38 18.3K Feb 8, 2023 Direct F2, F3
holding BWFG Common Stock 4.59K Feb 7, 2023 Direct F4
holding BWFG Common Stock 5K Feb 7, 2023 Direct F5
holding BWFG Common Stock 2.74K Feb 7, 2023 Direct F6
holding BWFG Common Stock 1.94K Feb 7, 2023 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 685 performance based shares were granted and vested on February 7, 2023 as a result of meeting performance metrics from previously issued grants.
F2 644 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover the tax liability for vesting a total of 2,056 shares.
F3 Range of reported sale price is $29.84 - $30.59. Reporting person agrees to provide individual transaction information to SEC upon request.
F4 4,589 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 2,295 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2024 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 2,294 of those shares are performance restricted stock and may vest when and if the performance goal is achieved
F5 5,000 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 2,500 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on July 1, 2023 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 2,500 of those shares are performance restricted stock and may vest when and if the performance goal is achieved.
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. As of the transaction date, 1,371 shares have vested.
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, 3,888 shares have vested.