Bridgewater Bancshares (BWB) director moves 350,478 shares to revocable trust

Rhea-AI Filing Summary

Bridgewater Bancshares director Todd B. Urness filed a Form 4 reporting an internal transfer of 350,478 shares of common stock to the Todd B. Urness Revocable Trust dated May 21, 2024 for no consideration.

Following the December 4, 2025 transaction, he directly held 307,000 shares and indirectly held 866,722 shares as trustee of the revocable trust, where members of his immediate family are beneficiaries. He retains sole voting and investment power over the trust shares and remains the beneficial owner of the securities held by the trust.

Insider Trade Summary

350,478 shares gifted

Mixed 2 txns

Insider Urness Todd B.

Role Director

Type	Security	Shares	Price	Value
Gift	Common Stock	350,478	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 307,000 shares (Direct); Common Stock — 866,722 shares (Indirect, By Trust)

Footnotes (1)

1. On December 4, 2025, Mr. Urness transferred 350,478 shares of common stock to the Todd B. Urness Revocable Trust dated May 21, 2024 for no consideration. Mr. Urness is the trustee of the trust and members of his immediate family are beneficiaries of the trust. Mr. Urness remains the beneficial owner of the securities held by the trust. Shares of common stock are held by Mr. Urness as trustee of the Todd B. Urness Revocable Trust under agreement dated May 21, 2024. Mr. Urness possess sole voting and investment power with respect to the shares of common stock held by the Todd B. Urness Revocable Trust under agreement dated May 21, 2024.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 12/05/2025 - 05:50 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Urness Todd B.

(Last) (First) (Middle)

C/O BRIDGEWATER BANCSHARES, INC.

4450 EXCELSIOR BLVD., SUITE 100

(Street)

ST. LOUIS PARK MN 55416

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bridgewater Bancshares Inc [ BWB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/04/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/04/2025		G		350,478	D	$0	307,000	D(1)
Common Stock								866,722	I(1)	By Trust(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On December 4, 2025, Mr. Urness transferred 350,478 shares of common stock to the Todd B. Urness Revocable Trust dated May 21, 2024 for no consideration. Mr. Urness is the trustee of the trust and members of his immediate family are beneficiaries of the trust. Mr. Urness remains the beneficial owner of the securities held by the trust.

2. Shares of common stock are held by Mr. Urness as trustee of the Todd B. Urness Revocable Trust under agreement dated May 21, 2024. Mr. Urness possess sole voting and investment power with respect to the shares of common stock held by the Todd B. Urness Revocable Trust under agreement dated May 21, 2024.

	/s/ Ben Klocke, Attorney-in-Fact	12/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.