Company: BWFG
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001505732-25-000079
Chunk: 31

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 31
---
 by making the Bank, which is our primary operating subsidiary, a driving force towards providing shareholders with a suitable rate of return on their investment.

• Proper balance of risk to reward . Decisions about compensation should be guided by best-practice governance standards and rigorous processes that encourage prudent decision-making.

#### Elements of Pay: Total Direct Compensation
Our executive compensation program is driven by a strong pay for performance philosophy supported by the following principal elements of pay:

| Pay Element              |     | How It’s Paid     |     | Purpose                                                                                                                                                             |
| Base Salary              |     | Cash (Fixed)      |     | Provide a competitive base salary level relative to similar positions in the market and enable the Company to attract and retain critical executive talent.         |
| Annual Incentive Bonuses |     | Cash (Variable)   |     | Reward executives for delivering on annual strategic and financial objectives that drive our business strategy and contribute to the creation of shareholder value. |
| Long-Term Incentives     |     | Equity (Variable) |     | Provide incentives for executives to execute on longer-term goals that drive the creation of shareholder value and support the Company’s retention strategy.        |

<div align='center'>18</div>

#### The Decision-Making Process
The Role of the Compensation Committee. The Compensation Committee, which is comprised solely of independent directors, oversees the compensation program for our executives, including our named executive officers. The Compensation Committee works very closely with an independent compensation consultant and management to examine the effectiveness of our executive compensation program throughout the year. The Compensation Committee makes all final compensation and equity award decisions regarding our named executive officers. The Chief Executive Officer is not present during voting or deliberations on his compensation.

The Role of Management. Members of our management team attend regular meetings where executive compensation, corporate and individual performance, and competitive compensation levels and practices are discussed and evaluated. Only the Compensation Committee members are allowed to vote on decisions regarding executive officer compensation. The Chief Executive Officer reviews his recommendations pertaining to all executives’ pay with the Compensation Committee, which provides transparency and oversight.

The Role of the Independent Consultant. The Compensation Committee engages an independent compensation consultant to provide expertise on competitive pay practices, program design, and an objective assessment of any inherent risks of any programs. Pursuant to authority granted to it under its charter, the Compensation Committee has hired Pearl Meyer & Partners, LLC (“Pearl Meyer”) as its independent consultant. Pearl Meyer is retained by, and reports directly to, the Compensation Committee, and provided no other services to the Company