Form 4: Director Urness Transfers Shares to Family Trust
Insider Transaction Disclosure
Bridgewater Bancshares Director Todd B. Urness transferred 516,244 common shares to a revocable family trust, maintaining beneficial ownership.
Summary
- Director Todd B. Urness of Bridgewater Bancshares Inc. (BWB) transferred 516,244 shares of common stock from his direct ownership to the Todd B. Urness Revocable Trust dated May 21, 2024.
- The transfer was made for no consideration.
- Mr. Urness remains the beneficial owner of these shares, acting as trustee with sole voting and investment power, and members of his immediate family are beneficiaries of the trust.
- Following the transaction, Mr. Urness directly owns 657,478 shares and indirectly owns 516,244 shares through the trust, maintaining a total beneficial ownership of 1,173,722 shares.
Sentiment
Score: 5
Explanation: This is a neutral event, representing a change in the form of beneficial ownership for a director's shares for estate planning purposes, with no direct operational or financial impact on the company.
Future Outlook
No forward-looking statements or guidance are provided in this filing, as it pertains to a change in beneficial ownership structure.
Management Comments
- On November 10, 2025, Mr. Urness transferred 516,244 shares of common stock to the Todd B. Urness Revocable Trust dated May 21, 2024 for no consideration.
- Mr. Urness is the trustee of the trust and members of his immediate family are beneficiaries of the trust.
- Mr. Urness remains the beneficial owner of the securities held by the trust.
- Mr. Urness possesses sole voting and investment power with respect to the shares of common stock held by the Todd B. Urness Revocable Trust under agreement dated May 21, 2024.
Industry Context
This transaction is a routine insider disclosure related to personal estate planning and does not reflect broader industry trends or competitive dynamics within the banking sector.
Stakeholder Impact
- Shareholders: Minimal impact, as the director retains full beneficial ownership and control over the shares, merely changing the form of ownership.
Key Dates
| Date | Description |
|---|---|
| 05/21/2024 | Date of the Todd B. Urness Revocable Trust agreement. |
| 11/10/2025 | Date of the transaction where 516,244 shares of common stock were transferred. |
| 11/12/2025 | Date the Form 4 was signed by the Attorney-in-Fact. |
Keywords
Bridgewater Bancshares, BWB, Form 4, Insider Transaction, Stock Transfer, Beneficial Ownership, Director, Todd B. Urness, Trust
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