SEC Form 4 · accession 0001140361-17-041594

Bankwell Financial Group, Inc. · BWFG

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Heidi DeWyngaert

Officer — EVP & CLO

Period of report

Nov 6, 2017

Accepted (ET)

Nov 8, 2017 · 4:25 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
Common Stock^{F1,F2,F3,F4,F6,F7,F5}	Nov 6, 2017	F	563	$36.29	D	53,660	D
Common Stock^F6	holding	—	—		—	3,780	D
Common Stock^F6	holding	—	—		—	2,983	D

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Options^F8	$20.70	holding	—	—	—	Jan 2, 2011	Jan 2, 2018	Common Stock	4,000	4,000	D
Stock Options^F8	$20.70	holding	—	—	—	Mar 26, 2015	Mar 26, 2018	Common Stock	12,000	12,000	D
Stock Options^F8	$12.64	holding	—	—	—	Jun 23, 2014	Jun 23, 2019	Common Stock	1,500	1,500	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 the Transaction Date, all 5,000 Shares have fully vested.
F25,500 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 1,100 shares vested on March 21, 2013 and an additional 20% to vest on each annual anniversary of the grant date thereafter. As of the Transaction Date, all 5,500 Shares have fully vested.
F35,000 shares of restricted stock granted pursuant to the 2012 BNC Financial Group, Inc. Stock Plan and will vest in five equal annual installments of 20%, with the first installment of 1,000 shares vested on March 17, 2013 and an additional 20% to vest on each annual anniversary of the grant date thereafter. As of the Transaction Date, all 5,000 Shares have fully vested.
F46,500 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 the Transaction Date, all 6,500 Shares have fully vested.
F5On 11/6/17 - 563 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover tax liability with respect to the vesting of restricted stock previously reported.
F618,000 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 6,300 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. As of the Transaction Date, 2,520 Shares have fully vested. 3,978 of those shares are restricted stock that will vest in four equal annual installments of 25%, with the first installment to vest on December 1, 2016 and an additional 25% to vest on each annual anniversary of the vesting date thereafter. As of the Transaction Date, 995 Shares have fully vested. 7,722 of those shares are performance restricted stock and may vest when and if the performance goals are achieved, but in any event no later than December 1, 2019. As of the Transaction Date, all 7,722 Performance Shares have vested.
F7Of the 53,660 Shares reported, 13,486 Shares are owned jointly with spouse.
F8Stock Options granted pursuant to the 2007 Bank of New Canaan Stock Option Equity Award Plan, all of which are fully vested.