Bankwell Financial (NASDAQ: BWFG) EVP Chivily sells 4,321 shares at $52.16

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Bankwell Financial Group EVP & Chief Credit Officer Christine Chivily reported an open‑market sale of 4,321 shares of Common Stock at $52.16 per share on May 1, 2026. After this transaction, she directly held 11,865 common shares.

The filing also shows multiple stock grants under the 2022 Bankwell Financial Group, Inc. Stock Plan, including restricted and performance restricted stock with vesting schedules extending to February 7, 2025, 2026, 2027, 2028 and 2029, depending on continued service and achievement of performance goals.

Insider Trade Summary

Net Seller: 4,321 shares ($225,383)

Net Sell 5 txns

Insider Chivily Christine

Role EVP & Chief Credit Officer

Sold 4,321 shs ($225K)

Type	Security	Shares	Price	Value
Sale	Common Stock	4,321	$52.16	$225K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 11,865 shares (Direct, null)

Footnotes (1)

2,054 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 1,057 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2027 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 1,057 of those shares are performance restricted stock with a three year cliff vesting on February 7, 2029 if the performance goal is achieved. 4,894 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 2,447 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2025 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 2,447 of those shares are performance restricted stock and may vest when and if the performance goal is achieved. 490 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. These shares are performance restricted stock with a two year cliff vesting on February 7, 2027 if the performance goals are achieved. 1,470 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 735 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2026 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 735 of those shares are performance restricted stock with a three year cliff vesting on February 7, 2028 if the performance goals are achieved. As of the vesting date, 245 shares have vested.

Key Figures

Shares sold: 4,321 shares Sale price: $52.16 per share Shares held after sale: 11,865 shares +4 more

7 metrics

Shares sold 4,321 shares Open-market sale of Common Stock on May 1, 2026

Sale price $52.16 per share Price for 4,321 common shares sold

Shares held after sale 11,865 shares Total direct Common Stock holdings following transaction

Restricted and performance grant 2,054 shares Granted under 2022 Stock Plan; vests through Feb 7, 2027 and Feb 7, 2029

Restricted and performance grant 4,894 shares Granted under 2022 Stock Plan; time and performance-based vesting from Feb 7, 2025

Performance restricted grant 490 shares Two-year cliff vesting on Feb 7, 2027 if performance goals are achieved

Restricted and performance grant 1,470 shares Three-year schedules with vesting milestones from Feb 7, 2026 to Feb 7, 2028

Key Terms

restricted stock, performance restricted stock, three year cliff vesting, two year cliff vesting, +1 more

5 terms

restricted stock financial

"2,054 shares of Bankwell Financial Group, Inc. stock granted... shares are restricted stock that will vest in three substantially equal annual installments"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

performance restricted stock financial

"1,057 of those shares are performance restricted stock with a three year cliff vesting on February 7, 2029 if the performance goal is achieved"

three year cliff vesting financial

"performance restricted stock with a three year cliff vesting on February 7, 2029 if the performance goal is achieved"

two year cliff vesting financial

"These shares are performance restricted stock with a two year cliff vesting on February 7, 2027 if the performance goals are achieved"

2022 Bankwell Financial Group, Inc. Stock Plan financial

"shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan"

Form 4 Insider Transactions: What Each Field Means →

05/04/2026 - 10:51 AM

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^*

Chivily Christine

(Last)

(First)

(Middle)

C/O BANKWELL FINANCIAL GROUP, INC.

258 ELM STREET

(Street)

NEW CANAAN

CONNECTICUT

06840

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP & Chief Credit Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/01/2026		S		4,321	D	$52.16	11,865	D
Common Stock								2,054	D⁽¹⁾
Common Stock								1,630	D⁽²⁾
Common Stock								490	D⁽³⁾
Common Stock								1,225	D⁽⁴⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. 2,054 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 1,057 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2027 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 1,057 of those shares are performance restricted stock with a three year cliff vesting on February 7, 2029 if the performance goal is achieved.

2. 4,894 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 2,447 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2025 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 2,447 of those shares are performance restricted stock and may vest when and if the performance goal is achieved.

3. 490 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. These shares are performance restricted stock with a two year cliff vesting on February 7, 2027 if the performance goals are achieved.

4. 1,470 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. 735 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2026 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 735 of those shares are performance restricted stock with a three year cliff vesting on February 7, 2028 if the performance goals are achieved. As of the vesting date, 245 shares have vested.

Remarks:

	/s/ Angelo G. Fusaro, Attorney-in-Fact for Christine Chivily	05/04/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

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

Christine Chivily reported an open-market sale of 4,321 Bankwell Financial Group common shares at $52.16 per share on May 1, 2026. The transaction was coded as an open-market or private sale under SEC rules and reported on a Form 4 filing.

How many Bankwell Financial Group (BWFG) shares does Christine Chivily hold after the reported sale?

After selling 4,321 common shares, Christine Chivily directly held 11,865 Bankwell Financial Group shares. Additional entries in the filing show other directly held grant-based restricted and performance restricted stock positions under the 2022 Stock Plan with various vesting schedules.

What was the sale price for Christine Chivily’s Bankwell Financial Group (BWFG) shares?

The reported sale price was $52.16 per Bankwell Financial Group common share. The Form 4 characterizes the transaction as an open-market or private sale and specifies both the number of shares sold and the per-share price on the May 1, 2026 transaction date.

What kinds of equity awards does Christine Chivily hold under Bankwell Financial Group’s 2022 Stock Plan?

The filing describes grants of restricted stock and performance restricted stock under the 2022 Bankwell Financial Group, Inc. Stock Plan. These awards include time-based vesting in substantially equal annual installments and performance-based awards that may vest only if specified performance goals are achieved.

When do Christine Chivily’s Bankwell Financial Group (BWFG) restricted and performance shares vest?

Vesting dates in the filing include February 7, 2025, 2026, 2027, 2028 and 2029. Some restricted stock vests in three substantially equal annual installments, while performance restricted stock uses two- or three-year cliff vesting that depends on meeting defined performance goals.

What is the role of Christine Chivily at Bankwell Financial Group (BWFG) mentioned in the Form 4?

Christine Chivily is identified as Executive Vice President and Chief Credit Officer of Bankwell Financial Group. Her position is disclosed in the Form 4 reporting her open-market sale of common stock and her holdings of various stock awards granted under the company’s 2022 Stock Plan.