Form 4: Director Shellberg's Bridgewater Bancshares Stock Transfer

Bridgewater Bancshares Director Jeffrey D. Shellberg reported a disposition of 6,356 common shares, primarily through a gift or transfer, while maintaining significant direct and indirect holdings.

Summary

• Jeffrey D. Shellberg, a Director of Bridgewater Bancshares Inc (BWB), reported a change in beneficial ownership.
• On December 4, 2025, Mr. Shellberg disposed of 6,356 shares of Common Stock with a transaction price of $0, indicating a gift or transfer.
• Following this transaction, Mr. Shellberg directly owns 300,529 shares of Common Stock.
• Mr. Shellberg indirectly beneficially owns 355,000 shares through the Jeffrey D. Shellberg Trust dated October 1, 2014, where he serves as trustee.
• He also indirectly beneficially owns 87,000 shares through the Susan K Shellberg Family Trust dated July 16, 2024, where he serves as trustee.
• Additionally, Mr. Shellberg indirectly beneficially owns 65,000 shares through the Susan K. Shellberg Marital Trust dated July 16, 2024, where he serves as trustee.
• Mr. Shellberg possesses voting and investment power over all shares held by these trusts.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction (a gift or transfer) of a relatively small number of shares at a $0 price, which is neutral in terms of market sentiment. It does not indicate a change in confidence or significant financial event.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, common in the financial services industry for publicly traded companies. It provides transparency into director stock ownership changes but does not inherently reflect broader industry trends or competitive positioning.

Related Party Transactions

• The disposition of shares at a $0 price and the subsequent indirect beneficial ownership through family trusts (Jeffrey D. Shellberg Trust, Susan K Shellberg Family Trust, and Susan K. Shellberg Marital Trust) where Mr. Shellberg serves as trustee, represent related party dealings.

Stakeholder Impact

• Shareholders: Minimal impact as the transaction is a non-sale disposition of a small number of shares and does not alter the overall control or financial health of the company.
• Employees, Customers, Suppliers, Creditors: No direct impact from this insider ownership report.

Key Dates

Keywords

Bridgewater Bancshares, BWB, Jeffrey D. Shellberg, Insider Transaction, Form 4, Director, Stock Ownership, Beneficial Ownership