Blake S. Drexler - May 31, 2023 Form 4 Insider Report for Bankwell Financial Group, Inc. (BWFG)

Role: Director
Signature: /s/ Courtney E. Sacchetti, Attorney-in-Fact for Blake S. Drexler
Stock symbol: BWFG
Transactions as of: May 31, 2023
Transactions value $: $833
Form type: 4
Date filed: 6/2/2023, 08:17 AM
Previous filing: May 25, 2023
Next filing: Aug 29, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BWFG	Common Stock	Purchase	$833	+36	+0.1%	$23.15	35K	May 31, 2023	Deferred Compensation Plan
holding	BWFG	Common Stock						1.6K	May 31, 2023	Direct	F1
holding	BWFG	Common Stock						1.2K	May 31, 2023	Direct	F2
holding	BWFG	Common Stock						1K	May 31, 2023	Direct	F3
holding	BWFG	Common Stock						3.52K	May 31, 2023	Direct	F4
holding	BWFG	Common Stock						300	May 31, 2023	Direct	F5
holding	BWFG	Common Stock						58.2K	May 31, 2023	Held as Trustee
holding	BWFG	Common Stock						1.13K	May 31, 2023	IRA-401(k)
holding	BWFG	Common Stock						149K	May 31, 2023	Direct

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

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	1,600 shares of restricted stock granted on December 31, 2022, pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan and will vest in four equal annual installments of 25%, with the first installment to vest on January 2, 2024 and an additional 25% to vest on each annual anniversary of the vesting date thereafter.
F2	1,600 shares of restricted stock granted on December 31, 2021, pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan and will vest in four equal annual installments of 25%, with the first installment to vest on January 2, 2023 and an additional 25% to vest on each annual anniversary of the vesting date thereafter. As of the transaction date 400 shares have vested.
F3	2,000 shares of restricted stock granted on December 8, 2020, pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan and will vest in four equal annual installments of 25%, with the first installment to vest on January 2, 2022 and an additional 25% to vest on each annual anniversary of the vesting date thereafter. As of the transaction date, 1,000 shares have vested.
F4	3,520 shares of restricted stock granted on February 7, 2020, pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan and will fully vest on February 7, 2025.
F5	1,200 shares of restricted stock granted on December 20, 2019, pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan and will vest in four equal annual installments of 25%, with the first installment to vest on January 2, 2021 and an additional 25% to vest on each annual anniversary of the vesting date thereafter. As of the transaction date, 900 shares have vested.