BlackRock (BWFG) discloses 5.2% passive ownership in Bankwell Financial

Rhea-AI Filing Summary

BlackRock, Inc. has filed a Schedule 13G reporting a passive ownership stake in Bankwell Financial Group, Inc. (BWFG) common stock. BlackRock reports beneficial ownership of 409,432 shares, representing 5.2% of Bankwell’s outstanding common stock as of 12/31/2025. It has sole voting power over 401,905 shares and sole dispositive power over the full 409,432 shares, with no shared voting or dispositive power.

The filing states that these securities are held in the ordinary course of business and are not held for the purpose of changing or influencing control of Bankwell. Various underlying clients and accounts have rights to dividends or sale proceeds, but no single underlying interest exceeds five percent of Bankwell’s total outstanding common shares.

Insights

Equity ownership and governance analyst

BlackRock discloses a passive 5.2% stake in Bankwell.

BlackRock, Inc. reports beneficial ownership of 409,432 Bankwell common shares, or 5.2% of the company. It holds sole voting power over 401,905 shares and sole dispositive power over the full position, with no shared authority disclosed. This concentrates a modest but meaningful block with a large institutional investor.

The certification specifies that the stake is held in the ordinary course of business and is not intended to change or influence control. Economic exposure is spread across various clients and funds, and no single underlying party exceeds five percent of Bankwell’s outstanding common shares, which limits control implications.

Overall, this is a routine institutional ownership disclosure rather than a strategic or activist move. Subsequent ownership updates in future beneficial ownership reports may show whether this passive stake grows, shrinks, or remains stable over time.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Bankwell Financial Group, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

06654A103

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 06654A103

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 401,905.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 409,432.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

409,432.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Bankwell Financial Group, Inc.
(b)	Address of issuer's principal executive offices: 258 Elm Street NEW CANAAN CT 06840
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 06654A103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 409432
(b)	Percent of class: 5.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 401905
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 409432
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of Bankwell Financial Group, Inc.. No one person's interest in the common stock of Bankwell Financial Group, Inc. is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	01/21/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

What stake does BlackRock, Inc. report in Bankwell Financial Group (BWFG)?

BlackRock, Inc. reports beneficial ownership of 409,432 shares of Bankwell Financial Group, Inc. common stock, representing 5.2% of the outstanding common shares as of 12/31/2025.

Does BlackRock have voting power over its BWFG shares?

Yes. BlackRock reports sole voting power over 401,905 Bankwell common shares and no shared voting power.

What dispositive power does BlackRock disclose over BWFG shares?

BlackRock reports sole dispositive power over 409,432 Bankwell common shares and no shared dispositive power.

Is BlackRock’s BWFG holding intended to influence control of the company?

No. BlackRock certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Bankwell Financial Group, Inc.

Who ultimately benefits from BlackRock’s BWFG shareholdings?

The filing states that various persons have rights to receive dividends or sale proceeds from the Bankwell shares, but no one person’s interest exceeds five percent of Bankwell’s total outstanding common shares.

What type of reporting person is BlackRock in this BWFG Schedule 13G?

BlackRock identifies itself as an HC, meaning a parent holding company or control person, and files on behalf of certain business units whose holdings are aggregated in this report.

Who signed the Schedule 13G for BlackRock regarding BWFG?

The Schedule 13G was signed by Spencer Fleming, identified as a Managing Director, on 01/21/2026.