Spouse IRA of Bridgewater (BWB) director buys preferred depositary shares

Rhea-AI Filing Summary

Bridgewater Bancshares director Mary Jayne Crocker reported an open-market purchase of depositary shares through a spouse’s IRA. The account bought 205 depositary shares on May 11, 2026 at $20.00 each, bringing total indirect holdings to 5,700 depositary shares.

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

Insider Trade Summary

Net Buyer: 205 shares ($4,100)

Net Buy 1 txn

Insider Crocker Mary Jayne

Role null

Bought 205 shs ($4K)

Type	Security	Shares	Price	Value
Purchase	Depositary Shares	205	$20.00	$4K

Holdings After Transaction: Depositary Shares — 5,700 shares (Indirect, By Spouse IRA)

Footnotes (1)

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Key Figures

Shares purchased: 205 depositary shares Purchase price: $20.00 per share Indirect holdings after trade: 5,700 depositary shares +2 more

5 metrics

Shares purchased 205 depositary shares Open-market purchase on May 11, 2026

Purchase price $20.00 per share Price paid for each depositary share

Indirect holdings after trade 5,700 depositary shares Total held by spouse’s IRA after transaction

Preferred stock coupon 5.875% Rate on Non-Cumulative Perpetual Preferred Stock, Series A

Depositary share interest 1/100th of one preferred share Each depositary share’s interest in Series A preferred

Key Terms

Depositary Shares, Non-Cumulative Perpetual Preferred Stock, open-market purchase, IRA

4 terms

Depositary Shares financial

"Each depositary share represents ownership of a 1/100th interest in a share..."

Depositary shares are tradable certificates that represent a fractional piece of a larger security held by a third-party bank, like owning a slice of a single big pie instead of the whole pie. They let companies issue and investors buy smaller, more affordable portions of preferred stock or other instruments; holders usually receive proportional dividends and market pricing similar to ordinary shares, but may have limited voting rights and different liquidity or tax implications, which can affect income and resale value.

Non-Cumulative Perpetual Preferred Stock financial

"5.875% Non-Cumulative Perpetual Preferred Stock, Series A, $0.01 par value..."

Non-cumulative perpetual preferred stock is a type of investment that pays a fixed dividend forever, without a set end date. If the company skips some dividends in a year, you don’t get that money later, and it’s gone forever. It matters because investors get regular income but may miss out if the company faces financial trouble.

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

IRA financial

"nature_of_ownership": "By Spouse IRA""

An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.

Form 4 Insider Transactions: What Each Field Means →

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^*

Crocker Mary Jayne

(Last) (First) (Middle)

C/O BRIDGEWATER BANCSHARES, INC.

4450 EXCELSIOR BLVD., SUITE 100

(Street)

ST. LOUIS PARK MINNESOTA 55416

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/11/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)	05/11/2026		P		205	A	$20	5,700	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	05/12/2026
	** 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).
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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Bridgewater Bancshares (BWB) report for Mary Jayne Crocker?

Bridgewater Bancshares reported that a spouse’s IRA associated with director Mary Jayne Crocker bought 205 depositary shares. The open-market purchase occurred at $20.00 per share and increased total indirect holdings in these depositary shares to 5,700.

At what price were the Bridgewater Bancshares (BWB) depositary shares purchased?

The depositary shares were purchased at $20.00 per share in an open-market transaction. This price applied to all 205 depositary shares bought on May 11, 2026, through a spouse’s IRA account linked to director Mary Jayne Crocker.

How many Bridgewater Bancshares (BWB) depositary shares does the spouse’s IRA hold after this trade?

After the reported transaction, the spouse’s IRA holds 5,700 depositary shares. This reflects the addition of 205 shares bought in the open market, building on the account’s existing position in Bridgewater’s preferred stock depositary shares.

What do Bridgewater Bancshares (BWB) depositary shares represent?

Each Bridgewater Bancshares depositary share represents a 1/100th interest in a share of 5.875% Non-Cumulative Perpetual Preferred Stock, Series A. Investors in depositary shares effectively hold fractional interests in the company’s preferred stock through this structure.

Is the Bridgewater Bancshares (BWB) insider holding direct or indirect after this purchase?

The reported holdings are indirect, listed as held "By Spouse IRA." This means the depositary shares are owned through a spouse’s individual retirement account, rather than directly in director Mary Jayne Crocker’s personal name.