[Form 3] Bridgewater Bancshares Inc Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Jessica Anne Stejskal, listed at a Bridgewater Bancshares, Inc. address in St. Louis Park, MN, filed an initial Form 3 reporting her role as Chief Experience Officer and a director of Bridgewater Bancshares Inc [BWB]. The filing, dated for the event 09/15/2025 and signed by attorney-in-fact Ben Klocke on 09/18/2025, shows 12,961 shares of common stock owned directly. It also discloses three option grants held directly: an option covering 1,600 shares (exercisable 09/30/2017 at $7.47), an option covering 10,000 shares (related to an 08/01/2023 grant with $10.65 exercise price), and an option covering 25,000 shares (related to a 02/03/2025 grant with $13.78 exercise price). Vesting schedules are described in the filing as incremental vesting from the grant dates under the 2017 and 2023 equity plans.

Positive

• Officer and director ownership disclosed (12,961 direct shares) which aligns management interests with shareholders
• Long‑dated option grants under formal equity plans show structured compensation and retention mechanisms

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine insider Form 3 showing direct ownership and several option grants; no unusual financing or disposition disclosed.

The Form 3 documents the initial reporting of beneficial ownership for an officer/director and lists modest direct equity and option positions. The total direct common shares reported are 12,961, supplemented by options exercisable under historic grants and a recent 2023 plan grant. There are no sales, pledges, transfers, or unusual derivative instruments disclosed that would materially alter capital structure or signal liquidity events. For investors, this is a standard disclosure establishing insider alignment with equity but does not by itself change company fundamentals.

Corporate Governance Expert

TL;DR: Governance filing records an officer/director's holdings and standard vesting terms; procedural and informational in nature.

The filing confirms that the reporting person serves as both an officer and a director and holds equity through direct shares and time‑vested option awards under company equity plans. Vesting provisions are conventional: multi‑year incremental vesting tied to grant dates. The signature by an attorney‑in‑fact is properly noted. This Form 3 is a routine transparency disclosure and raises no immediate governance concerns based on the information provided.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Stejskal Jessica Anne

(Last) (First) (Middle)

C/O BRIDGEWATER BANCSHARES, INC.

4450 EXCELSIOR BLVD., SUITE 100

(Street)

ST. LOUIS PARK MN 55416

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/15/2025

3. Issuer Name and Ticker or Trading Symbol
Bridgewater Bancshares Inc [ BWB ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Experience Officer

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	12,961	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option to buy(1)	(2)	09/30/2017	Common Stock	1,600	$7.47	D
Option to buy(3)	(4)	08/01/2033	Common Stock	10,000	$10.65	D
Option to buy(3)	(5)	02/03/2035	Common Stock	25,000	$13.78	D

Explanation of Responses:

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

2. Option exercisable in 20% increments on the first five anniversaries of the date of the grant which was10/1/2017.

3. Option to buy granted under the 2023 Equity Incentive Plan.

4. Option exercisable in 25% increments on the first four anniversaries of the date of the grant which was 8/1/2023.

5. Option exercisable in 25% increments on the first four anniversaries of the date of the grant which was 2/3/2025.

	/s/ Ben Klocke, Attorney-in-Fact	09/18/2025
	** 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 5 (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.

FAQ

What did the Form 3 filed for Bridgewater Bancshares Inc (BWBBP) report?

The Form 3 reports that Jessica Anne Stejskal (Chief Experience Officer and director) directly owns 12,961 shares and holds options for 1,600, 10,000, and 25,000 common shares with listed exercise prices.

What are the exercise prices and exercisable dates disclosed on the Form 3?

The filing lists an option for 1,600 shares exercisable 09/30/2017 at $7.47, an option for 10,000 shares tied to an 08/01/2023 grant at $10.65, and an option for 25,000 shares tied to a 02/03/2025 grant at $13.78.

When was the Form 3 event dated and who signed the filing?

The event requiring the statement is dated 09/15/2025 and the form is signed by attorney‑in‑fact Ben Klocke on 09/18/2025.

Under which equity plans were the options granted?

The filing states one option was granted under the 2017 Combined Incentive and Non‑Statutory Stock Plan and others under the 2023 Equity Incentive Plan.

Does the Form 3 disclose any sales, pledges, or transfers of the reported securities?

No. The filing only discloses direct ownership and option grants; it does not report any sales, pledges, transfers, or derivative dispositions.