BWB files Form 144 for 100,000-share resale

BWB proposed resale of 100,000 shares via a registered broker-dealer under a Form 144 notice and reported recent brokered sales.

Rhea-AI Filing Summary

BWB proposed resale of 100,000 shares via a registered broker-dealer under a Form 144 notice and reported recent brokered sales. The filing lists two trades in early May: 9,252 shares sold on 05/06/2026 for $170,710.24 and 8,174 shares sold on 05/07/2026 for $150,812.80. Shares outstanding are shown as 27,883,367 as of 05/21/2026.

Insights

Securities Compliance Analyst

Form 144 records a proposed brokered resale and two recent small trades.

The notice lists 100,000 shares as the securities to be sold and identifies Robert W. Baird & Co. as the broker-dealer. Two executed transactions are recorded: 9,252 shares on 05/06/2026 and 8,174 shares on 05/07/2026, with dollar amounts reported.

These reported sales are routine brokered dispositions; cash-flow treatment and seller identity beyond the broker-dealer listing are not detailed in the excerpt. Subsequent filings would show settlement details or additional resale notices if transactions proceed.

Key Figures

Proposed resale: 100,000 shares Sale on 05/06/2026: 9,252 shares Proceeds 05/06/2026: $170,710.24 +3 more

6 metrics

Proposed resale 100,000 shares Securities To Be Sold line on Form 144

Sale on 05/06/2026 9,252 shares Securities Sold During The Past 3 Months

Proceeds 05/06/2026 $170,710.24 Sale reported for 9,252 shares on 05/06/2026

Sale on 05/07/2026 8,174 shares Securities Sold During The Past 3 Months

Proceeds 05/07/2026 $150,812.80 Sale reported for 8,174 shares on 05/07/2026

Shares outstanding 27,883,367 shares as of 05/21/2026

Key Terms

Form 144, warrant exercise, broker-dealer

3 terms

Form 144 regulatory

"Securities To Be Sold line and header '144: Securities To Be Sold'"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

warrant exercise financial

"Entry: 'Warrant exercise | Issuer | 100000 | 05/08/2015'"

A warrant exercise is when the holder of a warrant pays a preset price to convert that warrant into actual company shares. Think of it like using a coupon to buy a product at a locked-in price; if the market price is higher, the buyer gains immediate value. For investors it matters because exercising brings cash into the company but also increases the total number of shares, which can reduce each existing shareholder’s ownership percentage and affect the stock price.

broker-dealer regulatory

"Listing: 'Robert W. Baird & Co.' as the broker-dealer handling sales"

A broker-dealer is a licensed firm or individual that both executes trades on behalf of clients (acting as a broker) and buys or sells securities for its own account (acting as a dealer). Investors care because broker-dealers provide the plumbing of markets — they place orders, hold or move cash and securities, offer research or advice, and their stability and fees directly affect trade execution, costs, and the safety of client funds; think of them as a combined travel agent and taxi for your investments.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does BWB's Form 144 show about planned sales?

The Form 144 indicates a proposed sale of 100,000 shares filed for resale through a broker-dealer. It lists the broker as Robert W. Baird & Co. and the filing method as a Form 144 notice.

How many shares were sold in the past three months for BWB?

The filing reports two brokered sales: 9,252 shares on 05/06/2026 and 8,174 shares on 05/07/2026, with proceeds of $170,710.24 and $150,812.80 respectively.

Who is the broker handling the proposed BWB resale?

The broker-dealer listed in the notice is Robert W. Baird & Co., 777 East Wisconsin Avenue, Milwaukee, WI, as shown on the Form 144 excerpt.

What baseline share count does the filing provide for BWB?

The excerpt shows 27,883,367 shares outstanding as of 05/21/2026, presented in the filing as a baseline figure tied to that date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/21/2026 - 10:36 AM EDT Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001732717
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	BRIDGEWATER BANCSHARES, INC.
SEC File Number	001-38412
Address of Issuer	4450 EXCELSIOR BLVD., SUITE 100 ST. LOUIS PARK MINNESOTA 55416
Phone	952-283-3750
Name of Person for Whose Account the Securities are To Be Sold	Jeffrey Shellberg
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Robert W. Baird & Co. 777 East Wisconsin Avenue Milwaukee WI 53202	20000	373200	27883367	05/21/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	05/08/2015	Warrant exercise	Issuer			100000	05/08/2015	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Robert W. Baird & Co. 777 East Wisconsin Avenue Milwaukee WI 53202	Common Stock	05/06/2026	9252	170710.24
Robert W. Baird & Co. 777 East Wisconsin Avenue Milwaukee WI 53202	Common Stock	05/07/2026	8174	150812.80

144: Remarks and Signature

Remarks	Shares on this filing are being sold by the Susan K. Shellberg Marital Trust dated July 16, 2024.
Date of Notice	05/21/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Ben Klocke, Attorney-in-Fact
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)