Form 4: Bankwell Financial Group Director Carl M. Porto Reports Transaction in Company Stock
SEC Form 4
Director Carl M. Porto reports a transaction involving Bankwell Financial Group, Inc. common stock, including acquisitions and disposals, along with details of restricted stock vesting.
Summary
- On September 10, 2024, Carl M. Porto, a director of Bankwell Financial Group, Inc., reported a transaction involving the company's common stock.
- Porto acquired 127 shares of common stock at a price of $29 per share.
- He also disposed of shares related to restricted stock vesting, including 834 shares, 1,600 shares, 1,200 shares, 800 shares, 500 shares and 1,760 shares.
- Following these transactions, Porto directly owns 15,638 shares and indirectly owns 4,303 shares through a Law Firm Pension Plan and 18,513 shares through a Deferred Compensation Plan.
- The report details the vesting schedules for various restricted stock grants made between 2020 and 2023.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions of a company director. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency to the market regarding their transactions in the company's stock.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions, which can influence investor sentiment.
Key Dates
| Date | Description |
|---|---|
| 12/08/2020 | Grant date of 2,000 shares of restricted stock. |
| 02/07/2020 | Grant date of 1,760 shares of restricted stock. |
| 12/31/2021 | Grant date of 1,600 shares of restricted stock. |
| 01/02/2022 | First installment vested for restricted stock granted on December 8, 2020. |
| 12/31/2022 | Grant date of 1,600 shares of restricted stock. |
| 01/02/2023 | First installment vested for restricted stock granted on December 31, 2021. |
| 12/29/2023 | Grant date of 2,500 shares and 1,600 shares of restricted stock. |
| 01/02/2024 | First installment vested for restricted stock granted on December 31, 2022. |
| 02/07/2024 | 833 shares of restricted stock vested immediately from the December 29, 2023 grant. |
| 02/07/2025 | 834 shares of restricted stock will vest from the December 29, 2023 grant; 1,600 shares of restricted stock will vest from the December 29, 2023 grant; 1,760 shares of restricted stock will fully vest from the February 7, 2020 grant. |
| 09/10/2024 | Date of the reported stock transaction. |
| 09/11/2024 | Date of the report filing. |
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