Christopher R. Gruseke - Feb 7, 2024 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
Feb 7, 2024
Transactions value $
-$105,235
Form type
4
Date filed
2/9/2024, 02:31 PM
Previous 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 -$105K -4.32K -2.6% $24.36 162K Feb 7, 2024 Direct F1, F2, F3
transaction BWFG Common Stock Award $0 +13.7K $0.00 13.7K Feb 7, 2024 Direct F4
holding BWFG Common Stock 12.5K Feb 7, 2024 IRA
holding BWFG Common Stock 10.4K Feb 7, 2024 Direct F5
holding BWFG Common Stock 4.11K Feb 7, 2024 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 4,320 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover the tax liability for vesting a total of 9,292 shares.
F2 Range of reported sale price is $23.49 - $24.79. Reporting person agrees to provide individual transaction information to SEC upon request.
F3 62,287 shares reported are owned jointly with spouse.
F4 13,704 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 6,852 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2025 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 6,852 of those shares are performance restricted stock and may vest when and if the performance goal is achieved.
F5 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 vesting 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. As of the transaction date, 5,181 shares have vested.
F6 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, 8,224 shares have vested.