Bridgewater Bancshares CEO sells 20,000 shares twice

The reported prices average multiple trades: November 2, 2026 sales ranged from $20.12 to $20.40 per share, while November 3, 2026 sales ranged from $20.25 to $20.70.

Available on EDGAR 11/04/2026 - 04:48 PM EST Accepted by SEC EDGAR 11/04/2026 - 04:48 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Bridgewater Bancshares Inc CEO and director Jerry J. Baack sold 20,000 shares of common stock on November 2, 2026, at a weighted-average price of $20.2481 per share, and another 20,000 shares on November 3 at $20.3524 per share. Each sale comprised multiple transactions; the respective price ranges were $20.12–$20.40 and $20.25–$20.70. No Rule 10b5-1 plan is reported. A separate holding entry lists 1,000 shares indirectly, by a dependent child.

Insider Trade Summary

Net Seller: 40,000 shares

Net Sell 2 txns

Insider Baack Jerry J.

Role CEO

Sold 40,000 shs ($812K)

Share of Position Sold 3.4%

Type	Security	Shares	Price	Value
Sale	Common Stock F2	20,000	$20.3524	$407K
Sale	Common Stock F1	20,000	$20.2481	$405K
Holding	Common Stock	--	--	--
Holding	Common Stock	--	--	--
Holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,137,769 shares (Direct); Common Stock — 1,000 shares (Indirect, By dependent child); Common Stock — 2,000 shares (Indirect, As custodian for child)

Holdings Before and After: Common Stock, 1,177,769 to 1,137,769 shares (Direct)

Other Insiders: 2 other insiders reported open-market sales of this stock in the 30 days up to this filing.

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 $20.12 to $20.40, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.25 to $20.70, 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.

Key Figures

Shares sold: 20,000 shares Weighted-average sale price: $20.2481 per share Price range: $20.12–$20.40 per share +4 more

7 metrics

Shares sold 20,000 shares November 2, 2026

Weighted-average sale price $20.2481 per share November 2, 2026

Price range $20.12–$20.40 per share Multiple transactions on November 2, 2026

Shares sold 20,000 shares November 3, 2026

Weighted-average sale price $20.3524 per share November 3, 2026

Price range $20.25–$20.70 per share Multiple transactions on November 3, 2026

Indirect shares held by dependent child 1,000 shares Holding entry dated November 2, 2026

Key Terms

weighted average price

1 terms

weighted average price financial

"The price reported in Column 4 is 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.

FAQ

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

How many BWB shares did CEO Jerry J. Baack sell, and at what prices?

Jerry J. Baack sold 20,000 BWB common shares on November 2, 2026, at a weighted-average price of $20.2481 per share, and 20,000 on November 3, 2026, at $20.3524 per share. The respective multiple-transaction price ranges were $20.12–$20.40 and $20.25–$20.70; no Rule 10b5-1 plan is reported.

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

Form 4 Insider Transactions: What Each Field Means →

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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)
11/02/2026

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	11/02/2026		S		20,000	D	$20.2481(1)	1,157,769	D
Common Stock	11/03/2026		S		20,000	D	$20.3524(2)	1,137,769	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)
				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 $20.12 to $20.40, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $20.25 to $20.70, 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.

	/s/ Ben Klocke, Attorney-in-Fact	11/04/2026
	** 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)