SEC Form 4 · accession 0001140361-18-009603

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

Feb 20, 2018

Accepted (ET)

Feb 22, 2018 · 4:24 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^F3	Feb 20, 2018	A	1,500	$0.00	A	1,500	D
Common Stock^F3	Feb 20, 2018	A	1,500	$0.00	A	1,500	D
Common Stock^F1	holding	—	—		—	2,520	D
Common Stock^F1	holding	—	—		—	1,988	D
Common Stock^F2	holding	—	—		—	59,591	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^F4	$20.70	holding	—	—	—	Mar 26, 2015	Mar 26, 2018	Common Stock	4,000	4,000	D
Stock Options^F4	$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 Shares reported, 13,486 Shares are owned jointly with spouse.
F33,000 shares of Bankwell Financial Group, Inc. stock granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. 1,500 of those shares are restricted stock that will vest in three substantially equal annual installments, with the first installment to vest on February 7, 2019 and the second and third installments to vest on each annual anniversary of the vesting date thereafter. 1,500 of those shares are performance restricted stock and may vest when and if the performance goal is achieved.
F4Stock Options granted pursuant to the 2007 Bank of New Canaan Stock Option Equity Award Plan, all of which are fully vested.