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

Rhea-AI Filing Summary

Trutna Thomas P., a director of Bridgewater Bancshares, Inc., reported a sale of company common stock on 08/22/2025. The Form 4 shows 6,152 shares were disposed of at a reported price of $16.40 per share, leaving the reporting person with 94,496 shares after the transaction. The filing was signed by an attorney-in-fact, Ben Klocke, on 08/22/2025. The Form indicates it was filed by one reporting person and identifies the reporting person as a director of the issuer.

Positive

• Post-transaction ownership disclosed (94,496 shares), providing transparency on the insider's remaining stake
• No derivative or complex transactions reported, simplifying investor interpretation

Negative

• Insider sold 6,152 shares, which could reduce insider ownership concentration
• Filing lacks explanation of the reason for the sale or indication of a Rule 10b5-1 plan

Insights

Corporate Governance Expert

TL;DR: Routine director sale reported; no additional context on reason or trading plan in the filing.

The Form 4 documents a direct sale of 6,152 shares by director Trutna Thomas P. at $16.40 per share, leaving 94,496 shares beneficially owned. The filing is routine disclosure under Section 16 and was executed by an attorney-in-fact. Because the form contains only the transaction details without any accompanying plan or explanation, it should be treated as a standard insider sale disclosure rather than an indicator of corporate governance action.

Securities Compliance Analyst

TL;DR: Disclosure appears complete for the reported transaction; no amendments or derivative activity noted.

The document indicates a single non-derivative sale on 08/22/2025 with the required post-transaction ownership figure disclosed. There are no entries in Table II for derivative securities and no amendment date provided, implying this is the original report for the transaction. The signature is by attorney-in-fact, which is permissible when authorized; the form otherwise follows standard Section 16 reporting conventions.

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^*

Trutna Thomas P.

(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)
08/22/2025

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	08/22/2025		S		6,152	D	$16.4	94,496	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	08/22/2025
	** 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

Who filed the Form 4 for Bridgewater Bancshares (BWBBP)?

The reporting person is Trutna Thomas P., identified as a director of Bridgewater Bancshares, Inc.

What transaction is reported in the Form 4 dated 08/22/2025?

A sale of 6,152 shares of common stock at a price of $16.40 per share on 08/22/2025.

How many shares did the reporting person own after the transaction?

The Form 4 reports 94,496 shares beneficially owned following the sale.

Was the Form 4 filed by multiple reporting persons or amended?

The form indicates it was filed by one reporting person and there is no amendment date listed.

Did the filing report any derivative securities or option activity?

No. Table II for derivative securities is empty; only a non-derivative common stock sale is reported.

Who signed the Form 4 and when?

The Form 4 was signed by /s/ Ben Klocke, Attorney-in-Fact on 08/22/2025.