[Form 4] Bankwell Financial Group Inc Insider Trading Activity

Rhea-AI Filing Summary

Todd Lampert, a director of Bankwell Financial Group, Inc. (BWFG), reported multiple transactions and holdings. He sold 2,000 shares on 08/27/2025 at reported sale prices in the $42.52–$43.51 range and sold 3,300 shares on 08/28/2025 at reported sale prices in the $42.40–$43.40 range, reducing his direct beneficial ownership from 16,833 shares to 13,533 shares after those sales. The filing also reports several disposals and restricted stock grants: 400, 1,800, 1,600, 1,600 and 1,600 shares described with varying vesting schedules and vesting status. Indirect holdings include 9,699 shares in a spouse's IRA and 8,608 shares in an IRA. The form is signed by Mr. Lampert on 08/29/2025.

Positive

• Disclosure includes detailed restricted stock grant terms and vesting schedules, improving transparency
• Form is signed and dated, meeting filing formalities for Section 16 reporting

Negative

• Director Todd Lampert sold a total of 5,300 shares on 08/27/2025 and 08/28/2025, reducing direct holdings from 16,833 to 13,533 shares
• Reported sale price ranges imply dispositions at approximately the low-$40s per share, which may be viewed unfavorably by some investors

Insights

Financial Analyst

TL;DR: Insider sales of 5,300 shares occurred over two days, modestly reducing direct ownership; remaining direct and indirect holdings remain disclosed.

The reported sales on 08/27/2025 (2,000 shares) and 08/28/2025 (3,300 shares) used reported price ranges and reduced direct holdings from 16,833 to 13,533 shares, reflecting routine insider liquidity activity rather than a change in control or major disposition. The filing also documents outstanding restricted stock awards with multi-year vesting schedules, indicating ongoing equity-based compensation alignment with shareholder interests. No derivative transactions are reported. For investors, this is a material disclosure of insider trading and current ownership but does not, by itself, indicate a change in issuer fundamentals.

Corporate Governance Expert

TL;DR: Form 4 disclosure appears complete: sales, restricted grants, vesting schedules and indirect holdings are reported and signed.

The report identifies Mr. Lampert as a director and provides specific transaction dates, share amounts, reported price ranges and detailed descriptions of five restricted stock awards with vesting timelines and vested portions. Indirect beneficial ownership through a spouse's IRA and an IRA are identified. The signature and dates are provided, meeting Form 4 requirements. No amendments or 10b5-1 plan designation is indicated in the filing text provided.

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^*

Lampert Todd

(Last) (First) (Middle)

C/O BANKWELL FINANCIAL GROUP, INC.

258 ELM STREET

(Street)

NEW CANAAN CT 06840

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Bankwell Financial Group, Inc. [ BWFG ]

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)
08/27/2025

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	08/27/2025		S		2,000	D	$42.57(1)	16,833	D
Common Stock	08/28/2025		S		3,300	D	$42.29(2)	13,533	D
Common Stock								400	D(3)
Common Stock								1,800	D(4)
Common Stock								1,067	D(5)
Common Stock								800	D(6)
Common Stock								400	D(7)
Common Stock								9,699	I	Spouse's IRA
Common Stock								8,608	I	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. Range of reported sale price is $42.52 - $43.51. Reporting person agrees to provide individual transaction information to SEC upon request.

2. Range of reported sale price is $42.40 - $43.40. Reporting person agrees to provide individual transaction information to SEC upon request.

3. 400 shares of restricted stock granted on February 7, 2025, pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan and will fully vest on February 7, 2026.

4. 1,800 shares of restricted stock granted on February 7, 2025, pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan with 600 to vest on February 7, 2026. 600 will vest on February 7, 2027 and 600 will vest on February 7, 2028.

5. 1,600 shares of restricted stock granted on December 29, 2023, pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan with 533 vested on February 7, 2025, 533 will vest on February 7, 2026 and 534 will vest on February 7, 2027. As of the filing date, 533 shares have vested.

6. 1,600 shares of restricted stock granted on December 30, 2022, pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan and will vest in four equal annual installments of 25%, with the first installment vesting on January 2, 2024 and an additional 25% to vest on each annual anniversary of the vesting date thereafter. As of the filing date, 800 shares have vested.

7. 1,600 shares of restricted stock granted on December 31, 2021, pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan and will vest in four equal annual installments of 25%, with the first installment vesting on January 2, 2023 and an additional 25% to vest on each annual anniversary of the vesting date thereafter. As of the filing date, 1200 shares have vested.

Remarks:

	/s/ Todd Lampert	08/29/2025
	** 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 insider transactions did Todd Lampert report for BWFG?

Mr. Lampert reported sales of 2,000 shares on 08/27/2025 and 3,300 shares on 08/28/2025, plus other disposals and restricted stock holdings as detailed in the Form 4.

How many shares does Todd Lampert beneficially own after the reported trades?

After the reported sales, Mr. Lampert's direct beneficial ownership is reported as 13,533 shares.

Does the filing disclose restricted stock grants and vesting for BWFG?

Yes. The filing describes restricted stock grants totaling multiple awards (e.g., 400, 1,800, 1,600, 1,600, 1,600 shares) with specific vesting schedules and vested portions noted.

Are there any indirect holdings reported by the reporting person?

Yes. The filing reports 9,699 shares held in a spouse's IRA and 8,608 shares held in an IRA as indirect beneficial ownership.

When was the Form 4 signed by the reporting person?

The Form 4 is signed by Todd Lampert and dated 08/29/2025.