[144] Bridgewater Bancshares Inc SEC Filing

BWB filed a Form 144 notice to sell 20,000 shares.

Rhea-AI Filing Summary

BWB filed a Form 144 notice to sell 20,000 shares. The notice lists prior sales of 9,838 shares on 02/06/2026 for $185,840.80. Shares outstanding were 27,832,867 as of 04/29/2026, and the planned sale is reported as a Company Issuance for cash.

Key Figures

Planned sale: 20,000 shares Prior sales (3 months): 9,838 shares Proceeds from prior sale: $185,840.80 +2 more

5 metrics

Planned sale 20,000 shares listed on Form 144 as securities to be sold

Prior sales (3 months) 9,838 shares sold on 02/06/2026

Proceeds from prior sale $185,840.80 consideration reported for 9,838 shares on 02/06/2026

Shares outstanding 27,832,867 shares outstanding as of 04/29/2026

Trade type Company Issuance (Cash) transaction method listed on the Form 144 cover line

Key Terms

Form 144, Rule 144, Company Issuance, Shares outstanding

4 terms

Form 144 regulatory

"Filed to notify of proposed sale of restricted or control securities"

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.

Rule 144 regulatory

"Notice references sale under Rule 144 procedures in the cover data"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Company Issuance transaction

"Transaction type listed as Company Issuance with consideration 'Cash'"

Shares outstanding market

"27,832,867 as of 04/29/2026 appears on the cover"

Shares outstanding are the total number of a company’s stock units held by all shareholders, including institutional investors and company insiders — think of them as the total number of slices of the company’s ownership pie. Investors use this number to calculate how much of the company each share represents, and it directly affects per-share measures like earnings per share, ownership percentage and valuation; when the slice count changes, an investor’s claim and the company’s per-share metrics change too.

FAQ

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

What does BWB's Form 144 filing mean?

It notifies the market of a planned sale of 20,000 shares under Rule 144. The form is a regulatory notice required when restricted or control securities are proposed for sale.

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

The filing reports prior sales of 9,838 shares on 02/06/2026 for $185,840.80. This figure is disclosed as transactions executed within the prior three-month window.

How large is BWB's outstanding share count reported?

Shares outstanding are reported as 27,832,867 as of 04/29/2026. That number provides a baseline for context about the size of the proposed 20,000-share sale.

Who handled the reported prior sales in the filing?

The filing lists Morgan Stanley Smith Barney LLC Executive Financial Services as the broker for the prior sale on 02/06/2026, which executed 9,838 shares for $185,840.80.

What type of transaction is described as 'Company Issuance' in the filing?

The filing classifies the planned sale as a Company Issuance and lists the consideration as Cash, indicating the shares were issued by the company and sold for cash proceeds.

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

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Accepted by SEC EDGAR 04/28/2026 - 09:15 PM 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	375000	27832867	04/29/2026	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	05/12/2005	Company Issuance	Issuer			20000	05/12/2005	Cash

* 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
Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	Common Stock	02/06/2026	9838	185840.80

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	04/28/2026
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)