Bridgewater Bancshares CEO exercises $7.47 options

The option footnotes give anniversary-based schedules: 20% increments for the October 1, 2017 grant and 25% increments for the December 6, 2019 and February 1, 2022 grants.

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Rhea-AI Filing Summary

Bridgewater Bancshares Inc CEO Jerry J. Baack exercised options covering 36,166 shares on October 22, 2026, at an exercise price of $7.47 per share; he acquired 29,099 common shares, while 7,067 shares were delivered or withheld for payment of exercise price or tax liability. On October 23, 2026, he exercised options to acquire 17,834 common shares at $7.47 per share. Reported positions also include 1,000 common shares indirectly held by a dependent child and direct options covering 65,000 shares at $12.92, expiring December 6, 2029, and 100,000 shares at $17.50, expiring February 1, 2032.

Insider Trade Summary

54,000 shares exercised/converted

Exercise 10 txns

Insider Baack Jerry J.

Role CEO

Type	Security	Shares	Price	Value
Exercise	Option to buy ^{F1, F2}	17,834	$0.00	$0.00
Exercise	Common Stock	17,834	$7.47	$133K
Exercise	Option to buy ^{F1, F2}	36,166	$0.00	$0.00
Exercise	Common Stock	29,099	$7.47	$217K
Exercise Price or Tax Liability	Common Stock	7,067	$20.67	$146K
holding	Option to buy ^{F1, F3}	--	--	--
holding	Option to buy ^{F1, F4}	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Option to buy — 236,000 contracts for 165,000 underlying shares (Direct); Common Stock — 1,170,702 shares (Direct); Common Stock — 1,000 shares (Indirect, By dependent child); Common Stock — 2,000 shares (Indirect, As custodian for child)

Footnotes (4)

F1. Options to buy granted under the 2017 Combined Incentive and Non-Statutory Stock Option Plan.
F2. Options exercisable in 20% increments on the first five anniversaries of the date of the grant which was 10/1/2017.
F3. Options exercisable in 25% increments on the first four anniversaries of the date of the grant which was 12/6/2019.
F4. Options exercisable in 25% increments on the first four anniversaries of the date of the grant which was 2/1/2022.

Key Figures

Options exercised: 36,166 shares Common shares acquired: 29,099 shares Shares delivered or withheld: 7,067 shares +4 more

7 metrics

Options exercised 36,166 shares October 22, 2026

Common shares acquired 29,099 shares October 22, 2026

Shares delivered or withheld 7,067 shares October 22, 2026; payment of exercise price or tax liability

Exercise price $7.47 per share Options exercised October 22 and October 23, 2026

Common shares acquired 17,834 shares October 23, 2026

Underlying shares in direct options 65,000 shares $12.92 exercise price; expires December 6, 2029

Underlying shares in direct options 100,000 shares $17.50 exercise price; expires February 1, 2032

Key Terms

Non-Statutory Stock Option Plan, 20% increments, 25% increments

3 terms

Non-Statutory Stock Option Plan financial

"2017 Combined Incentive and Non-Statutory Stock Option Plan"

20% increments financial

"Options exercisable in 20% increments"

25% increments financial

"Options exercisable in 25% increments"

FAQ

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

How many BWB shares did CEO Jerry J. Baack acquire on October 22, 2026?

On October 22, 2026, Jerry J. Baack exercised options covering 36,166 shares at an exercise price of $7.47 per share, acquiring 29,099 common shares; 7,067 shares were delivered or withheld for payment of exercise price or tax liability.

How many BWB shares did CEO Jerry J. Baack acquire on October 23, 2026?

On October 23, 2026, Jerry J. Baack exercised options to acquire 17,834 common shares at an exercise price of $7.47 per share.

What anniversary schedules are stated for Jerry J. Baack’s BWB options?

Options granted October 1, 2017 were exercisable in 20% increments on the first five anniversaries of the grant. Options granted December 6, 2019 and February 1, 2022 were exercisable in 25% increments on the first four anniversaries of each grant.

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 10/26/2026 - 05:35 PM EDT Accepted by SEC EDGAR 10/26/2026 - 05:34 PM EDT

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^*

Baack Jerry J.

(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
X	Officer (give title below)	Other (specify below)
	CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/22/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	10/22/2026		M		29,099	A	$7.47	1,159,935	D
Common Stock	10/22/2026		F		7,067	D	$20.67	1,152,868	D
Common Stock	10/23/2026		M		17,834	A	$7.47	1,170,702	D
Common Stock								1,000	I	By dependent child
Common Stock								1,000	I	As custodian for child
Common Stock								1,000	I	As custodian for child

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option to buy⁽¹⁾	$7.47	10/22/2026		M			36,166	⁽²⁾	09/30/2027	Common Stock	36,166	$0	88,834	D
Option to buy⁽¹⁾	$7.47	10/23/2026		M			17,834	⁽²⁾	09/30/2027	Common Stock	17,834	$0	71,000	D
Option to buy⁽¹⁾	$12.92							⁽³⁾	12/06/2029	Common Stock	65,000		65,000	D
Option to buy⁽¹⁾	$17.5							⁽⁴⁾	02/01/2032	Common Stock	100,000		100,000	D

Explanation of Responses:

1. Options to buy granted under the 2017 Combined Incentive and Non-Statutory Stock Option Plan.

2. Options exercisable in 20% increments on the first five anniversaries of the date of the grant which was 10/1/2017.

3. Options exercisable in 25% increments on the first four anniversaries of the date of the grant which was 12/6/2019.

4. Options exercisable in 25% increments on the first four anniversaries of the date of the grant which was 2/1/2022.

	/s/ Ben Klocke, Attorney-in-Fact	10/26/2026
	** 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)

Source: View Original Filing on SEC EDGAR