Form 4: Bankwell Financial Group Director Carl M. Porto Reports Stock Purchase and Vesting
SEC Form 4 Filing
Director Carl M. Porto reports a purchase of Bankwell Financial Group stock and vesting of restricted stock units.
Summary
- On September 11, 2024, Carl M. Porto, a director of Bankwell Financial Group, Inc., purchased 127 shares of common stock at a price of $29.50 per share.
- The filing also indicates the vesting of restricted stock units granted under the company's stock plans.
- These restricted stock units vest over time, with specific vesting schedules outlined in the footnotes.
- The filing details the number of shares beneficially owned by Porto following these transactions, including shares held directly and indirectly through deferred compensation and pension plans.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The filing provides shareholders with information about insider transactions, which can influence investor sentiment.
Key Dates
| Date | Description |
|---|---|
| February 7, 2020 | Date of grant for 1,760 shares of restricted stock that will fully vest on February 7, 2025. |
| December 8, 2020 | Date of grant for 2,000 shares of restricted stock vesting in annual installments. |
| December 31, 2021 | Date of grant for 1,600 shares of restricted stock vesting in annual installments. |
| January 2, 2022 | First vesting date for shares granted on December 8, 2020. |
| December 31, 2022 | Date of grant for 1,600 shares of restricted stock vesting in annual installments. |
| January 2, 2023 | First vesting date for shares granted on December 31, 2021. |
| December 29, 2023 | Date of grant for 2,500 and 1,600 shares of restricted stock with varying vesting schedules. |
| January 2, 2024 | First vesting date for shares granted on December 31, 2022. |
| February 7, 2024 | Vesting date for 833 shares of restricted stock granted on December 29, 2023. |
| September 11, 2024 | Date of common stock purchase by Carl M. Porto. |
| September 12, 2024 | Date of filing. |
| February 7, 2025 | Vesting date for 834 shares of restricted stock granted on December 29, 2023 and full vesting date for 1,760 shares granted on February 7, 2020. |
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