Steven H. Brunner - 09 Feb 2026 Form 4 Insider Report for Bankwell Financial Group, Inc. (BWFG)

Role: EVP & Chief Risk Officer
Signature: /s/ Steven H. Brunner
Issuer symbol: BWFG
Transactions as of: 09 Feb 2026
Net transactions value: -$93,519
Form type: 4
Filing time: 10 Feb 2026, 15:29:02 UTC
Previous filing: 12 Sep 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Brunner Steven H	EVP & Chief Risk Officer	C/O BANKWELL FINANCIAL GROUP, INC, 258 ELM STREET, NEW CANAAN	/s/ Steven H. Brunner	10 Feb 2026	0002009787

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BWFG	Common Stock	Award	$0	+1,558		$0.000000	1,558	09 Feb 2026	Direct	F1
transaction	BWFG	Common Stock	Award	$0	+518	+11%	$0.000000	5,265	09 Feb 2026	Direct	F2
transaction	BWFG	Common Stock	Sale	$93,519	-1,876	-36%	$49.85	3,389	09 Feb 2026	Direct	F3, F4
holding	BWFG	Common Stock						1,630	09 Feb 2026	Direct	F5
holding	BWFG	Common Stock						498	09 Feb 2026	Direct	F6
holding	BWFG	Common Stock						1,244	09 Feb 2026	Direct	F7

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

Explanation of Responses:

Id	Content
F1	1,558 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 779 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2027 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 779 of those shares are performance restricted stock with a three year cliff vesting on February 7, 2029 if the performance goal is achieved.
F2	518 shares were granted and vested on February 9, 2026. These shares were related to 2023, 2024, and 2025 additional performance shares.
F3	Range of reported sale price is $49.52 - $50.26. Reporting person agrees to provide individual transaction information to SEC upon request.
F4	1,876 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover the tax liability for vesting a total of 3,717 shares.
F5	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, 1,632 restricted shares have vested, 816 performance shares vested, and 542 performance shares have been forfeited. 282 additional performance shares vested.
F6	498 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.
F7	1,493 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 746 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. 746 of those shares are performance restricted stock with a three year cliff vesting on February 7, 2028 if the performance goals are achieved. As of the vesting date, 249 shares have vested.