Company: BWFG
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001505732-25-000079
Chunk: 37

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 37
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. The grants of these restricted shares were disclosed in the Summary Compensation Tables in the years of the respective grants. Performance shares vesting in 2024 based on 2023 performance vested at 100% of the target.

| Name                   |     | Number of  Performance-Vesting Restricted Stock at Target Which Vested in 2024 (

# of Shares) |     | Value of Performance-Vesting Restricted Stock at Target which Vested in 2024 ($) |     | Number of  Performance-Vesting Restricted Stock Above Target which Vested in 2024 (# of Shares) |     | Value of Performance-Vesting Restricted Stock Above Target which Vested in 2024 ($) |
| Christopher R. Gruseke |     |                                                                                        6,435 |     |                                                                          166,731 |     |                                                                                               0 |     |                                                                                   0 |
| Matthew McNeill        |     |                                                                                        4,822 |     |                                                                          125,436 |     |                                                                                               0 |     |                                                                                   0 |
| Christine A. Chivily   |     |                                                                                        3,254 |     |                                                                           85,427 |     |                                                                                               0 |     |                                                                                   0 |

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#### OTHER PRACTICES, POLICIES & GUIDELINES

#### Executive Employment Agreements
The Company has entered into employment agreements with each Bankwell executive in connection with their initial employment or promotion to an executive position. These agreements are designed to promote stability and continuity of senior management who are critical to the Company’s continued success.

The employment agreements with Bankwell executives provide that, during the term of the contract, the executive’s base salary will not be reduced and the executive will remain eligible for participation in the Company’s executive incentive compensation (including its Long-Term Equity Plan) and benefit programs. Each agreement specifies the executive’s target annual bonus opportunity expressed as a percentage of base salary (45% for Mr. Gruseke, 40% for Mr. McNeill, 30% for Ms. Chivily ). Mr. Gruseke’s agreement provides for a rolling three-year term and automatically renews for successive three-year terms on each successive January 5 unless either t he Company or Mr. Gruseke has given the other written notice of election not to renew at least 90 days prior to the January 5th anniversary date. Mr. McNeill’s and Ms. Chivily’s agreements provide for a one-year term