Christopher R. Gruseke - Dec 15, 2023 Form 4 Insider Report for Bankwell Financial Group, Inc. (BWFG)

Role: President & CEO
Signature: /s/ Courtney E. Sacchetti, Attorney-in-Fact for Christopher R. Gruseke
Stock symbol: BWFG
Transactions as of: Dec 15, 2023
Transactions value $: -$83,088
Form type: 4
Date filed: 12/18/2023, 02:49 PM
Previous filing: May 15, 2023
Next filing: Jan 4, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BWFG	Common Stock	Tax liability	-$83.1K	-2.88K	-1.83%	$28.83	155K	Dec 15, 2023	Direct	F1, F2, F3
holding	BWFG	Common Stock						12.5K	Dec 15, 2023	IRA
holding	BWFG	Common Stock						15.5K	Dec 15, 2023	Direct	F4
holding	BWFG	Common Stock						8.22K	Dec 15, 2023	Direct	F5
holding	BWFG	Common Stock						3.58K	Dec 15, 2023	Direct	F6

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

Explanation of Responses:

Id	Content
F1	2,882 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover the tax liability for a total 6,400 shares.
F2	Range of reported price is $28.72 - $29.11. Reporting person agrees to provide individual transaction to SEC upon request.
F3	62,287 shares reported are owned jointly with spouse.
F4	15,543 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 7,772 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. 7,771 of those shares are performance restricted stock and may vest when and if the performance goal is achieved.
F5	12,333 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 6,167 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment vesting on February 7, 2023 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 6,166 of those shares are performance restricted stock and may vest when and if the performance goal is achieved. As of the transaction date, 4,112 shares have vested.
F6	10,742 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 5,371 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment vesting on January 2, 2022 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 5,371 of those shares are performance restricted stock and may vest when and if the performance goal is achieved. As of the transaction date, 7,164 shares have vested.