Company: BWFG
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001505732-25-000079
Chunk: 26

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 26
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2023 annual award to directors. Commencing in January 2024, the Company changed the grant date and vesting schedules for all director and employee equity grants to February of the current fiscal year, with 3-year time-based vesting commencing on the first anniversary of the February grant date. As a result, the Director Compensation Table below does not reflect the regular annual restricted stock grant to each director. In addition, for his service as Corporate Secretary, Mr. Lampert received an annual restricted stock award of 400 shares of common stock, granted on February 7, 2024 and which vests on the anniversary of the effective date of the grant. On December 11, 2024, the Compensation Committee recommended and the Board of Directors approved special restricted stock awards of 300 shares for the Compensation Committee members and 100 shares for the Governance Committee members in recognition of the increased level of activity of those committees during 2024. These special awards vested immediately.

The following table sets forth for the year ended December 31, 2024, the compensation paid or awarded by the Company and Bank to each person who served as a director during 2024 (other than Mr. Gruseke, our Chief Executive Officer, whose compensation is presented in the Summary Compensation Table).

| Name                    |     | Fees Earned 
  or Paid in 
        Cash 
         ($) |     | Stock Awards ($)(1)(2)(5) |     |               Total 
 Compensation ($)(3) |
| Gail E.D. Brathwaite(4) |     |      23,667 |     |                         — |     |              23,667 |
| Eric J. Dale            |     |      90,500 |     |                    12,212 |     |             102,712 |
| Darryl M. Demos         |     |      55,200 |     |                         — |     |              55,200 |
| Blake S. Drexler        |     |     161,000 |     |                         — |     |             161,000 |
| Jeffrey R. Dunne        |     |      55,000 |     |                         — |     |              55,000 |
| Anahaita N. Kotval      |     |      53,550 |     |                         — |     |              53,550 |
| Todd H. Lampert         |     |      77,500 |     |