Bridgewater COO exercises options for 1,931 shares

Bridgewater Bancshares Inc chief operating officer Lisa M. Salazar exercised stock options and increased her common share holdings.

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Filing Sentiment

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Form Type

Rhea-AI Filing Summary

Bridgewater Bancshares Inc chief operating officer Lisa M. Salazar exercised stock options and increased her common share holdings. She exercised options to acquire 1,931 shares of common stock at $12.94 per share, bringing her direct ownership to 38,008 common shares. After this transaction she still holds unexercised options covering 25,000 shares at an exercise price of $17.50 expiring on February 1, 2032, and options covering 17,000 shares at $12.92 expiring on December 6, 2029, all granted under the company’s equity incentive plans.

Insider Trade Summary

1,931 shares exercised/converted

Exercise 4 txns

Insider Salazar Lisa M

Role CHIEF OPERATING OFFICER

Type	Security	Shares	Price	Value
In-the-Money Exercise	Option to buy	1,931	$0.00	$0.00
Exercise	Common Stock	1,931	$12.94	$25K
holding	Option to buy	--	--	--
holding	Option to buy	--	--	--

Holdings After Transaction: Option to buy — 62,366 contracts for 42,000 underlying shares (Direct); Common Stock — 38,008 shares (Direct)

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 10/1/2018.
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 02/01/2022.

Key Figures

Options exercised: 1,931 shares at $12.94 Direct common shares after transaction: 38,008 shares Unexercised options at $17.50: 25,000 underlying shares +2 more

5 metrics

Options exercised 1,931 shares at $12.94 Common stock acquired via option exercise on transaction date

Direct common shares after transaction 38,008 shares Total common stock held directly following option exercise

Unexercised options at $17.50 25,000 underlying shares Options expiring February 1, 2032 under equity plan

Unexercised options at $12.92 17,000 underlying shares Options expiring December 6, 2029 under equity plan

Total options exercised in filing 1,931 shares Exercise of in-the-money derivative security (code X/M)

Key Terms

Option to buy, derivative security, in-the-money derivative exercise, 2017 Combined Incentive and Non-Statutory Stock Option Plan, +1 more

5 terms

Option to buy financial

"security_title": "Option to buy""

derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

in-the-money derivative exercise financial

"transaction_action": "in-the-money derivative exercise""

2017 Combined Incentive and Non-Statutory Stock Option Plan financial

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

expiration date financial

"expiration_date": "2032-02-01T00:00:00.000Z""

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

FAQ

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

What did BWB executive Lisa M. Salazar report in this Form 4 filing?

Lisa M. Salazar reported exercising stock options to acquire 1,931 shares of Bridgewater Bancshares common stock. This derivative exercise increased her directly held shares and updated her remaining option positions under the company’s equity incentive plans.

How many Bridgewater Bancshares (BWB) shares does Lisa M. Salazar now hold directly?

After the reported transactions, Lisa M. Salazar holds 38,008 Bridgewater Bancshares common shares directly. This reflects the addition of 1,931 shares obtained through an option exercise on the transaction date disclosed in the Form 4.

What options did Lisa M. Salazar exercise in the latest BWB Form 4?

She exercised options for 1,931 shares of Bridgewater Bancshares common stock at an exercise price of $12.94 per share. The Form 4 classifies this as an exercise of an in-the-money derivative security, increasing her non-derivative common stock holdings.

What unexercised stock options does Lisa M. Salazar still hold in BWB?

She continues to hold unexercised options over 25,000 shares at $17.50 expiring February 1, 2032, and 17,000 shares at $12.92 expiring December 6, 2029. These options were granted under Bridgewater’s 2017 Combined Incentive and Non-Statutory Stock Option Plan.

Does the Form 4 for BWB show any open-market buying or selling by Lisa M. Salazar?

The Form 4 reflects an option exercise that added 1,931 common shares to Lisa M. Salazar’s holdings, but it does not report any open-market purchases or sales. The transactions are described as derivative exercises and related holdings.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 06/11/2026 - 04:15 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^*

Salazar Lisa M

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

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	06/10/2026		M		1,931	A	$12.94	38,008	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)
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⁾	$12.94	06/10/2026		X			1,931	⁽²⁾	09/30/2028	Common Stock	1,931	$0	20,366	D
Option to buy⁽¹⁾	$12.92							⁽³⁾	12/06/2029	Common Stock	17,000		17,000	D
Option to buy⁽¹⁾	$17.5							⁽⁴⁾	02/01/2032	Common Stock	25,000		25,000	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 10/1/2018.

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 02/01/2022.

	/s/ Ben Klocke, Attorney-in-Fact	06/11/2026
	** 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