SEC Form 4 · accession 0001140361-18-000381
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
Jan 2, 2018
Accepted (ET)
Jan 3, 2018 · 1:43 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 StockF1,F2 | Jan 2, 2018 | M | 4,000 | $20.70 | A | 59,144 | D | |
| Common StockF1,F2,F3 | Jan 2, 2018 | F | 2,463 | $33.6293 | D | 56,681 | D | |
| Common StockF1 | holding | — | — | — | 2,520 | D | ||
| Common StockF1 | holding | — | — | — | 1,988 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF4 | $20.70 | Jan 2, 2018 | M | 4,000 | D | Jan 2, 2011 | Jan 2, 2018 | Common Stock | 4,000 | 0 | D |
| Stock OptionsF4 | $20.70 | holding | — | — | — | Mar 26, 2015 | Mar 26, 2018 | Common Stock | 12,000 | 12,000 | D |
| Stock OptionsF4 | $12.64 | holding | — | — | — | Jun 23, 2014 | Jun 23, 2019 | Common Stock | 1,500 | 1,500 | D |
Explanation of responses
- F118,000 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, 3,780 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, 1,990 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.
- F2Of the 55,144 Shares reported, 13,486 Shares are owned jointly with spouse.
- F3On 1/2/18 - 2,463 shares were withheld and sold through the Company sponsored cashless stock exercise program, to cover the exercise cost for converting the stock options to common stock.
- F4Stock Options granted pursuant to the 2007 Bank of New Canaan Stock Option Equity Award Plan, all of which are fully vested.