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

Rhea-AI Filing Summary

Mary Jayne Crocker, EVP & Chief Strategy Officer and director of Bridgewater Bancshares, Inc. (ticker: BWBBP), reported an insider purchase on Form 4. On 08/13/2025 she acquired 100 depositary shares at a price of $19.9999 per depositary share. Each depositary share represents a 1/100th interest in a share of the issuer's 5.875% Non-Cumulative Perpetual Preferred Stock, Series A.

Following the reported transaction the reporting person (through a spouse IRA) is recorded as beneficially owning 5,395 depositary shares indirectly. The Form 4 was signed by an attorney-in-fact on 08/15/2025. The filing discloses the transaction type as a purchase and the ownership form as indirect (by spouse IRA).

Positive

• Purchase disclosed: Reporting person acquired 100 depositary shares on 08/13/2025 at $19.9999 per share.
• Post-transaction holdings disclosed: 5,395 depositary shares beneficially owned indirectly by spouse IRA.
• Instrument clarified: Filing states each depositary share equals 1/100th interest in a share of the issuer's 5.875% Non-Cumulative Perpetual Preferred Stock, Series A.

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider purchase of 100 depositary shares increases indirect holdings to 5,395 shares; transaction disclosed on Form 4.

The filing documents a routine Section 16 purchase by an officer/director recorded as indirect ownership via a spouse IRA. The instrument purchased are depositary shares that each equal 1/100th of a preferred share, clarifying the underlying economic exposure to the issuer's 5.875% Non-Cumulative Perpetual Preferred Stock, Series A. Transaction date, price, and post-transaction holdings are all explicitly stated, enabling precise reconciliation with prior disclosures.

Corporate Governance Expert

TL;DR: Form 4 correctly reports officer/director purchase and indirect ownership; disclosure appears complete for this transaction.

The report identifies the reporting person, relationship to the issuer (EVP & Chief Strategy Officer and director), transaction code (purchase), specific quantity and price, and the nature of indirect ownership (spouse IRA). The filing includes the explanatory note about depositary share conversion ratio, which is important for understanding voting and dividend rights tied to the preferred series. Signature by attorney-in-fact and dates are present, meeting standard Form 4 procedural elements.

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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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^*

Crocker Mary Jayne

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & CHIEF STRATEGY OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

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
Depositary Shares(1)	08/13/2025		P		100	A	$19.9999	5,395	I	By Spouse IRA

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. Each depositary share represents ownership of a 1/100th interest in a share of the Issuer's 5.875% Non-Cumulative Perpetual Preferred Stock, Series A, $0.01 par value per share.

	/s/ Ben Klocke, Attorney-in-Fact	08/15/2025
	** 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

What transaction did Mary Jayne Crocker report on Form 4 for BWBBP?

The Form 4 reports a purchase of 100 depositary shares on 08/13/2025 at a price of $19.9999 per depositary share.

How many depositary shares does the reporting person beneficially own after the transaction?

Following the reported transaction the reporting person beneficially owns 5,395 depositary shares indirectly through a spouse IRA.

What do the depositary shares represent in this filing?

Each depositary share represents a 1/100th interest in a share of the issuer's 5.875% Non-Cumulative Perpetual Preferred Stock, Series A.

What is the reporting person’s role at Bridgewater Bancshares, Inc.?

The reporting person is listed as an EVP & Chief Strategy Officer and a director of the issuer.

When was the Form 4 signed and by whom?

The Form 4 includes a signature by Ben Klocke, Attorney-in-Fact dated 08/15/2025.