Form 4: Bridgewater Bancshares Director Gifts Shares to Trust
Insider Transaction Report
Bridgewater Bancshares Director Jeffrey D. Shellberg reported a gift of 54,882 common shares from direct ownership to a trust, maintaining significant indirect beneficial ownership.
Summary
- Jeffrey D. Shellberg, a Director of Bridgewater Bancshares Inc (BWB), reported changes in beneficial ownership.
- On October 9, 2025, Mr. Shellberg disposed of 54,882 shares of common stock directly held, with a transaction price of $0.
- Concurrently, 54,882 shares of common stock were acquired indirectly by the Jeffrey D. Shellberg Trust under agreement dated October 1, 2014, also with a transaction price of $0.
- Following these transactions, Mr. Shellberg directly beneficially owns 289,613 shares.
- Indirect beneficial ownership includes 372,272 shares through the Jeffrey D. Shellberg Trust, 87,000 shares through the Susan K Shellberg Family Trust, and 65,000 shares through the Susan K. Shellberg Marital Trust.
- Mr. Shellberg serves as trustee for all three trusts and possesses voting and investment power over the shares held by them.
- The filing was signed by Ben Klocke as Attorney-in-Fact on October 10, 2025, under a Power of Attorney dated September 2, 2025.
Sentiment
Score: 5
Explanation: Neutral. This is a routine insider transaction (gift to a trust) and does not indicate a change in the company's operational or financial performance. It's a personal estate planning move by a director.
Industry Context
This is a routine insider transaction filing, common for directors managing personal holdings, often for estate planning. It does not directly reflect broader industry trends or the operational performance of Bridgewater Bancshares Inc.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Jeffrey Shellberg granted a Power of Attorney to Benjamin Klocke and Charlynn Stevens to execute and file SEC Forms (3, 4, 5, 144) on his behalf, manage his EDGAR account, and obtain transaction information. | 2025-09-02 | Enhances administrative efficiency for SEC compliance for the reporting person, ensuring timely and accurate filings related to beneficial ownership changes. |
Related Party Transactions
- The transfer of 54,882 shares of common stock from direct ownership to the Jeffrey D. Shellberg Trust, where Mr. Shellberg serves as trustee and retains voting and investment power, constitutes a related party transaction for estate planning purposes.
Stakeholder Impact
- Shareholders: No direct operational or financial impact on the company. The transaction is a personal estate planning move by a director, shifting ownership from direct to indirect via trusts, with the director retaining voting and investment power.
Key Dates
| Date | Description |
|---|---|
| 2014-10-01 | Date of the Jeffrey D. Shellberg Trust agreement. |
| 2024-07-16 | Date of the Susan K Shellberg Family Trust and Susan K. Shellberg Marital Trust agreements. |
| 2025-09-02 | Date of the Power of Attorney granted by Jeffrey Shellberg to Benjamin Klocke and Charlynn Stevens. |
| 2025-10-09 | Date of the reported gift transaction of common stock. |
| 2025-10-10 | Date the Form 4 was signed by the Attorney-in-Fact. |
Keywords
Bridgewater Bancshares, BWB, Jeffrey D. Shellberg, Insider Transaction, Form 4, Beneficial Ownership, Common Stock, Trust, Director, Gift
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