Form 4: Bankwell Financial Group EVP Christine Chivily Reports Stock Sale to Cover Tax Obligations
SEC Form 4 Filing
Christine Chivily, EVP & Chief Credit Officer of Bankwell Financial Group, Inc., reported selling 750 shares of common stock to cover tax liabilities related to vesting shares.
Summary
- On July 1, 2024, Christine Chivily, EVP & Chief Credit Officer of Bankwell Financial Group, Inc., sold 750 shares of common stock at $24.99 per share.
- The sale was conducted to cover the tax liability associated with the vesting of 1,666 shares under the company's cashless stock exercise program.
- Following the transaction, Chivily directly owns 16,264 shares of Bankwell Financial Group, Inc.
- These holdings include shares granted under the 2012 and 2022 Bankwell Financial Group, Inc. Stock Plans, some of which are restricted and vest over time, while others are performance-based.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing reflects a routine transaction related to tax obligations and equity compensation.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates that an executive is managing their equity compensation, which is a common practice.
Key Dates
| Date | Description |
|---|---|
| 07/01/2024 | Date of stock transaction (sale of 750 shares). |
| 07/03/2024 | Date of Form 4 filing. |
| February 7, 2023 | First installment vested for 2,056 shares granted pursuant to the 2012 Bankwell Financial Group, Inc. Stock Plan. |
| July 1, 2023 | First installment vested for 5,000 shares granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. |
| February 7, 2024 | First installment vested for 4,589 shares granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. |
| February 7, 2025 | First installment to vest for 4,894 shares granted pursuant to the 2022 Bankwell Financial Group, Inc. Stock Plan. |
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