Christine Chivily - 12 Nov 2025 Form 4 Insider Report for Bankwell Financial Group, Inc. (BWFG)

Role: EVP & Chief Credit Officer
Signature: /s/ Angelo G. Fusaro, Attorney-in-Fact for Christine Chivily
Issuer symbol: BWFG
Transactions as of: 12 Nov 2025
Net transactions value: -$116,213
Form type: 4
Filing time: 12 Nov 2025, 13:05:42 UTC
Previous filing: 02 Jul 2025
Next filing: 10 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Chivily Christine	EVP & Chief Credit Officer	C/O BANKWELL FINANCIAL GROUP, INC., 258 ELM STREET, NEW CANAAN	/s/ Angelo G. Fusaro, Attorney-in-Fact for Christine Chivily	12 Nov 2025	0001665699

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BWFG	Common Stock	Sale	$116,213	-2,553	-15%	$45.52	13,939	12 Nov 2025	Direct
holding	BWFG	Common Stock						1,470	12 Nov 2025	Direct	F1
holding	BWFG	Common Stock						245	12 Nov 2025	Direct	F2
holding	BWFG	Common Stock						490	12 Nov 2025	Direct	F3
holding	BWFG	Common Stock						3,262	12 Nov 2025	Direct	F4
holding	BWFG	Common Stock						1,529	12 Nov 2025	Direct	F5

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

Explanation of Responses:

Id	Content
F1	1,470 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 735 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2026 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 735 of those shares are performance restricted stock with a three year cliff vesting on February 7, 2028 if the performance goals are achieved.
F2	245 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. These shares are performance restricted stock with a one year cliff vesting on February 7, 2026 if the performance goals are achieved.
F3	490 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. These shares are performance restricted stock with a two year cliff vesting on February 7, 2027 if the performance goals are achieved.
F4	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. As of the filing date, 1,090 shares have vested and 542 shares were forfeited.
F5	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. As of the filing date, 2,295 shares have vested and 765 were forfeited.