Steven H. Brunner - Mar 15, 2024 Form 4 Insider Report for Bankwell Financial Group, Inc. (BWFG)

Role: EVP & Chief Risk & Operations
Signature: /s/ Courtney E. Sacchetti, Attorney-in-Fact for Steven H. Brunner
Stock symbol: BWFG
Transactions as of: Mar 15, 2024
Transactions value $: -$11,478
Form type: 4
Date filed: 3/19/2024, 09:35 AM
Previous filing: Feb 9, 2024
Next filing: May 23, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BWFG	Common Stock	Tax liability	-$11.5K	-456	-10.17%	$25.17	4.03K	Mar 15, 2024	Direct	F1, F2
holding	BWFG	Common Stock						4.89K	Mar 15, 2024	Direct	F3
holding	BWFG	Common Stock						1.33K	Mar 15, 2024	Direct	F4
holding	BWFG	Common Stock						3.73K	Mar 15, 2024	Direct	F5
holding	BWFG	Common Stock						1.26K	Mar 15, 2024	Direct	F6
holding	BWFG	Common Stock						1.07K	Mar 15, 2024	Direct	F7
holding	BWFG	Common Stock						1.07K	Mar 15, 2024	Direct	F8

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

Explanation of Responses:

Id	Content
F1	456 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover the tax liability for vesting a total of 1,261 shares.
F2	Range of reported sale price is $25.17 - $25.25. Reporting person agrees to provide individual transaction information to SEC upon request.
F3	4,894 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 2,447 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. 2,447 of those shares are performance restricted stock and may vest when and if the performance goal is achieved.
F4	2,000 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. The shares are restricted stock that will vest in three substantially equal annual installments, with the first installment vested on August 31 , 2023 and the second, and third installments to vest on each annual anniversary of the vesting date thereafter. As of the transaction date, 667 shares have vested.
F5	7,457 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. The shares are restricted stock that will vest in two substantially equal annual installments, with the first installment vested on December 15, 2023 and the second on December 15, 2024. As of the transaction date, 3,729 shares have vested.
F6	2,522 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. The shares are restricted stock that will vest in two substantially equal annual installments, with the first installment vested on March 15, 2024 and the second on March 15 , 2025. As of the transaction date, 1,261 shares have vested.
F7	1,604 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. The shares are restricted stock that will vest in three substantially equal annual installments, with the first installment vested on February 7 , 2024 and the second, and third installments to vest on each annual anniversary of the vesting date thereafter. As of the transaction date, 534 shares have vested.
F8	1,603 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 1,603 of those shares are performance restricted stock and may vest when and if the performance goal is achieved, with the first installment vested on February 7, 2024 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. As of the transaction date, 535 shares have vested.