Bridgewater Bancshares director's trust sells 10,000 shares

The trust reported 856,722 shares after the sale, alongside 311,187 shares listed as held directly by the director.

Rhea-AI Filing Summary

Bridgewater Bancshares Inc (BWB) director Todd B. Urness reported that the Todd B. Urness Revocable Trust under agreement dated May 21, 2024, sold 10,000 common shares on October 29, 2026. The weighted average price was $20.3424 per share. The trust held 856,722 shares after the sale; Urness also reported 311,187 shares held directly. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Seller: 10,000 shares

Net Sell 2 txns

Insider Urness Todd B.

Role Director

Sold 10,000 shs ($203K)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	10,000	$20.3424	$203K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 856,722 shares (Indirect, By Trust); Common Stock — 311,187 shares (Direct)

Footnotes (2)

1. F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.34 to $20.36, inclusive. The reporting person undertakes to provide to Bridgewater Bancshares, Inc., any security holder of Bridgewater Bancshares, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price set forth in this footnote to this Form 4.
2. F2. 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 possesses 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.

Key Figures

Common shares sold: 10,000 shares Weighted average price: $20.3424 per share Transaction price range: $20.34 to $20.36 per share +2 more

5 metrics

Common shares sold 10,000 shares Trust sale on October 29, 2026

Weighted average price $20.3424 per share Trust sale on October 29, 2026

Transaction price range $20.34 to $20.36 per share Multiple transactions; inclusive range

Trust shares following transaction 856,722 shares Held by the trust after the sale

Direct shares held 311,187 shares Reported as held directly by Todd B. Urness

Key Terms

weighted average price, trustee, sole voting and investment power

3 terms

weighted average price financial

"a weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

trustee regulatory

"as trustee of the Todd B. Urness Revocable Trust"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

sole voting and investment power regulatory

"possesses sole voting and investment power"

FAQ

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

How many BWB shares did Todd B. Urness's trust sell, and at what price?

The Todd B. Urness Revocable Trust under agreement dated May 21, 2024, sold 10,000 BWB common shares at a weighted average price of $20.3424 per share on October 29, 2026. Todd B. Urness, a director, was trustee of the trust.

What price range did the BWB trust sale cover?

The 10,000 shares were sold in multiple transactions at prices ranging from $20.34 to $20.36, inclusive. The reported $20.3424 per-share price is the weighted average.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/30/2026 - 05:00 PM EDT Accepted by SEC EDGAR 10/30/2026 - 05:00 PM EDT 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 MINNESOTA 55416

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/29/2026

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

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

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

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	10/29/2026		S		10,000	D	$20.3424(1)	856,722	I	By Trust(2)
Common Stock								311,187	D

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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.34 to $20.36, inclusive. The reporting person undertakes to provide to Bridgewater Bancshares, Inc., any security holder of Bridgewater Bancshares, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price set forth in this footnote to this Form 4.

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 possesses 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	10/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)