[Form 4] Bridgewater Bancshares, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Bridgewater Bancshares Inc. (BWB) filed a Form 4 indicating that director Mohammed Lawal acquired 1,235 shares of common stock on 06/30/2025 at a stated price of $0.00 per share. Following the transaction, Lawal now directly owns 32,116 shares of BWB common stock. No derivative securities were reported, and the filing reflects a single, straightforward change in direct ownership.

Positive

• Director ownership increases: Mohammed Lawal acquired 1,235 additional shares, lifting his direct stake to 32,116 shares, indicating ongoing equity alignment with shareholders.

Negative

• Immaterial size: The added 1,235 shares are a negligible fraction of total outstanding shares, limiting any meaningful market or valuation impact.

Insights

Securities Analyst

TL;DR: Minor insider share acquisition; neutral impact, but marginally positive signal of continued board equity alignment.

The transaction adds 1,235 shares to Director Lawal’s holdings, bringing his total to 32,116 shares. Because the shares were acquired at a reported cost of $0, the event likely represents a routine equity grant rather than an open-market purchase. The size is de minimis relative to Bridgewater Bancshares’ total shares outstanding and therefore has limited valuation impact. Nonetheless, incremental insider ownership can be viewed as modestly positive for shareholder alignment. No derivatives were exercised, and no Rule 10b5-1 plan was flagged, reducing complexity. Overall, this is a routine governance disclosure with low market impact.

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
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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^*

Lawal Mohammed

(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)
06/30/2025

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	06/30/2025		A		1,235	A	$0	32,116	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	07/01/2025
	** 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.

FAQ

How many Bridgewater Bancshares (BWB) shares did Director Mohammed Lawal acquire?

He acquired 1,235 shares of common stock.

What is Mohammed Lawal’s total BWB share ownership after the transaction?

His direct ownership stands at 32,116 shares.

Did the director pay cash for the newly acquired shares?

The Form 4 lists a price of $0.00, indicating no cash consideration.

Were any derivative securities reported in this Form 4 filing?

No, no derivative securities were listed in Table II.

When did the reported transaction occur?

The acquisition date was 06/30/2025.