BWB Director Todd Urness Buys 1,164 Shares; Ownership 1.17M

Bridgewater Bancshares Inc (BWB) director Todd B. Urness reported an open-market purchase of 1,164 shares on 09/30/2025 at no reported cash price, bringing his total beneficial ownership to 1,173,722 shares.

Rhea-AI Filing Summary

Bridgewater Bancshares Inc (BWB) director Todd B. Urness reported an open-market purchase of 1,164 shares on 09/30/2025 at no reported cash price, bringing his total beneficial ownership to 1,173,722 shares. The filing was signed by an attorney-in-fact on 10/01/2025. The transaction is recorded on a Form 4 and reflects a director-level acquisition disclosed under Section 16.

Positive

• Director-level acquisition disclosed: Todd B. Urness reported acquiring 1,164 shares, increasing his total beneficial ownership to 1,173,722 shares
• Form 4 filed timely with signature by attorney-in-fact, indicating compliance with Section 16 reporting requirements

Negative

• None.

Insights

Securities Analyst

TL;DR Director purchased a small number of shares, modestly increasing insider ownership; routine Section 16 disclosure.

The Form 4 shows a director-level non-derivative acquisition of 1,164 common shares, raising total beneficial ownership to 1,173,722 shares. The filing contains no price information beyond a reported price of $0 (common in certain grant or correction filings), and no derivative transactions or disposals were reported. For investors, this is a routine insider disclosure without additional operational or financial details.

Corporate Governance Expert

TL;DR Routine insider buy disclosure by a director; procedural compliance appears intact.

The entry identifies Todd B. Urness as a director and the sole reporting person for this Form 4. The form records an acquisition on 09/30/2025 and was signed by an attorney-in-fact on 10/01/2025. There is no indication of amendments, derivative activity, or change in reporting status. This filing meets Section 16 disclosure requirements but provides limited information for assessing governance impact.

Insider Trade Summary

Grant/Award: 1,164 shares

Grant/Award 1 txn

Insider Urness Todd B.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,164	$0.00	$0.00

Holdings After Transaction: Common Stock — 1,173,722 shares (Direct)

FAQ

What did Bridgewater Bancshares (BWB) director Todd B. Urness report on Form 4?

He reported a non-derivative acquisition of 1,164 common shares on 09/30/2025, bringing his beneficial ownership to 1,173,722 shares.

Was a price disclosed for the BWB transaction?

The form lists a price of $0 for the reported transaction; no cash consideration or market price is provided in the filing.

Did the Form 4 report any derivative transactions or disposals for BWB?

No. Table II shows no derivative securities acquired or disposed of, and no disposals are reported in Table I.

When was the Form 4 for BWB signed and filed?

The signature block shows the form signed by an attorney-in-fact on 10/01/2025.

Does this Form 4 indicate any change in reporting status for the director?

No. The filing indicates the reporting person remains subject to Section 16 and is filing as one reporting person.

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

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Accepted by SEC EDGAR 10/01/2025 - 04:53 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).

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)
09/30/2025

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	09/30/2025		A		1,164	A	$0	1,173,722	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:

	/s/ Ben Klocke, Attorney-in-Fact	10/01/2025
	** 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.