SEC Form 4 · accession 0001140361-15-039244
Bankwell Financial Group, Inc. · BWFG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ernest J Verrico Sr.
Officer — EVP & CFO
Period of report
Nov 2, 2015
Accepted (ET)
Nov 2, 2015 · 2:59 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001505732
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Nov 2, 2015 | M | 4,000 | $11.00 | A | 4,000 | D | |
| Common StockF1 | holding | — | — | — | 2,000 | D | ||
| Common StockF2 | holding | — | — | — | 2,400 | D | ||
| Common StockF3 | holding | — | — | — | 4,875 | D | ||
| Common StockF4 | holding | — | — | — | 8,225 | I | Joint with Wife | |
| Common StockF5 | holding | — | — | — | 5,775 | D | ||
| Common StockF5 | holding | — | — | — | 10,725 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF6 | $11.00 | Nov 2, 2015 | M | 4,000 | D | Mar 4, 2015 | Mar 4, 2020 | Common Stock | 4,000 | 0 | D |
Explanation of responses
- F15,000 shares of restricted stock granted pursuant to the 2007 Bank of New Canaan Stock Option Equity Award Plan and will vest in five equal annual installments of 20%, the first installment of 1,000 shares vested on March 22, 2012 and an additional 20% to vest on each annual anniversary of the grant date thereafter. As of 12/31/14 3,000 Shares have fully vested and been transferred to Joint Ownership with Wife.
- F24,000 shares of restricted stock granted pursuant to the 2007 Bank of New Canaan Stock Option Equity Award Plan and will vest in five equal annual installments of 20%, the first installment of 800 shares vested on March 21, 2013 and an additional 20% to vest on each annual anniversary of the grant date thereafter. As of 12/31/14 1,600 Shares have fully vested and been transferred to Joint Ownership with Wife.
- F36,500 shares of restricted stock granted pursuant to the 2012 BNC Financial Group, Inc. Stock Plan and will vest in four equal annual installments of 25%, with the first installment to vest on November 5, 2014 and an additional 25% to vest on each annual anniversary of the grant date thereafter. As of 12/31/14 1,625 Shares have fully vested and been transferred to Joint Ownership with Wife.
- F4Of the 5,000 shares granted on March 22, 2011 - 3,000 Shares have fully vested and were transferred to Joint Ownership with Wife. Of the 4,000 Shares granted on March 21, 2012 - 1,600 Shares have fully vested and 1,600 Shares were transferred to Joint Ownership with Wife. Of the 6,500 Shares granted on November 5, 2013 - 1,625 Shares have fully vested and were transfered to Joint Ownership with Wife for a total of 8,225 Shares owned Jointly.
- F516,500 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 5,775 of those shares are restricted stock that will vest in five equal annual installments of 20%, with the first installment to vest on December 1, 2015 and an additional 20% to vest on each annual anniversary of the vesting date thereafter. 10,725 of those shares are performance restricted stock and may vest when and if the performance goals are achieved, but in any event no earlier than December 1, 2017 and no later than December 1, 2019.
- F6Stock Options granted pursuant to the 2007 Bank of New Canaan Stock Option Equity Award Plan and will become exercisable in five equal annual installments of 20%, with the first installment of 800 shares vested on March 4, 2011 and an additional 20% to vest on each annual anniversary of the grant date thereafter.