Form 4: Bankwell Financial Group Director Lawrence B. Seidman Reports Stock Transactions
SEC Form 4
Director Lawrence B. Seidman reports multiple transactions involving Bankwell Financial Group, Inc. stock, including acquisitions through a deferred compensation plan and vesting of restricted stock.
Summary
- Lawrence B. Seidman, a director of Bankwell Financial Group, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On June 6, 2024, Seidman acquired 111 shares of common stock through a deferred compensation plan at a price range of $24.77 to $24.80.
- On June 7, 2024, he acquired an additional 221 shares through the same plan at a price range of $24.45 to $24.47.
- Seidman also holds a significant number of shares indirectly through various entities, including Seidman and Associates, L.L.C., Seidman Investment Partnership, L.P., and others.
- He directly owns 12,374 shares of common stock.
- Several grants of restricted stock are vesting over time, with varying vesting schedules and amounts.
- The report also details the vesting schedules for several restricted stock grants from 2020 to 2023.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Positives
- The director's continued investment in the company through the deferred compensation plan could be seen as a positive signal.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor their trading activity.
Stakeholder Impact
- Shareholders can use this information to understand the trading activity of a key insider.
Key Dates
| Date | Description |
|---|---|
| 2020-12-08 | Grant date of 2,000 shares of restricted stock, vesting in four equal annual installments. |
| 2021-12-31 | Grant date of 1,600 shares of restricted stock, vesting in four equal annual installments. |
| 2022-12-30 | Grant date of 1,600 shares of restricted stock, vesting in four equal annual installments. |
| 2023-12-29 | Grant date of 2,500 shares of restricted stock, with a portion vesting immediately and the remainder vesting on subsequent dates. |
| 2024-02-07 | 833 shares of restricted stock vested. |
| 2024-06-06 | Acquisition of 111 shares of common stock through deferred compensation plan. |
| 2024-06-07 | Acquisition of 221 shares of common stock through deferred compensation plan. |
| 2024-06-10 | Date of the report. |
| 2025-02-07 | 834 shares of restricted stock will vest. |
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