Bankwell Financial Group (BWFG) director boosts share stake

Rhea-AI Filing Summary

Bankwell Financial Group director Blake S. Drexler reported an open-market purchase of 27 shares of common stock at $46.00 per share on March 6, 2026. The transaction was made indirectly through a Deferred Compensation Plan, which now holds 36,854 shares for his benefit.

The filing also updates his other direct and indirect holdings, including 58,224 shares held by family members over which he exercises effective control and multiple restricted stock grants that vest in stages through 2029.

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

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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^*

Drexler Blake S

(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)
03/06/2026

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	03/06/2026		P		27	A	$46	36,854	I	Deferred Compensation Plan
Common Stock								400	D(1)
Common Stock								534	D(2)
Common Stock								1,200	D(3)
Common Stock								1,455	D(4)
Common Stock								1,128	I	IRA-401(k)
Common Stock								58,224	I(5)	Exercises Control
Common Stock								160,861	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:

1. 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 vested on January 2, 2024 and an additional 25% to vest on each annual anniversary of the vesting date thereafter. As of the filing date, 1,200 shares have vested.

2. 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, 1,066 shares have vested.

3. 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. As of the filing date, 600 shares have vested.

4. 1,455 shares of restricted stock granted on February 9, 2026, pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan with 485 to vest on February 7, 2027. 485 will vest on February 7, 2028 and 485 will vest on February 7, 2029.

5. Includes 58,224 shares that are held by family members over which he exercises effective control.

Remarks:

	/s/ Angelo G. Fusaro Attorney-in-Fact for Blake S. Drexler	03/09/2026
	** 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).
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FAQ

What insider transaction did Bankwell Financial Group (BWFG) report?

Bankwell Financial Group (BWFG) reported that director Blake S. Drexler bought 27 shares of common stock at $46.00 per share. The purchase was made indirectly through a Deferred Compensation Plan and modestly increases his overall economic exposure to Bankwell shares.

How many BWFG shares did Blake S. Drexler buy and at what price?

Blake S. Drexler acquired 27 shares of Bankwell Financial Group common stock at $46.00 per share. This open-market purchase was executed through a Deferred Compensation Plan and is reported as an indirect ownership position for him under the Form 4 filing.

What are Blake S. Drexler’s indirect BWFG holdings after this transaction?

After the reported transaction, Drexler’s Deferred Compensation Plan position totals 36,854 Bankwell Financial Group shares. The filing also notes 58,224 shares held by family members over which he exercises effective control, in addition to other direct and restricted stock positions.

What restricted stock grants for BWFG does Blake S. Drexler hold?

Drexler holds several restricted stock grants, including 1,600 shares from 2022, 1,600 from 2023, 1,800 from 2025, and 1,455 from 2026. These awards vest in annual installments, with various portions scheduled to vest from 2026 through 2029, according to the stock plans described.

How does this BWFG Form 4 change Blake S. Drexler’s overall share exposure?

The Form 4 shows a small incremental increase of 27 shares through an indirect Deferred Compensation Plan purchase. It also clarifies his broader exposure through direct holdings, family-controlled shares, and multiple tranches of restricted stock that continue vesting over several future years.

What is the nature of Blake S. Drexler’s family-held BWFG shares?

The filing states that 58,224 Bankwell Financial Group shares are held by family members over which Drexler exercises effective control. These shares are reported as indirect ownership, reflecting his influence over them rather than direct registration in his own name.