Company: BWFG
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001505732-25-000079
Chunk: 27

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 27
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22,060 |     |              99,560 |
| Kevin D. Leitão(4)      |     |      26,733 |     |                     3,053 |     |              29,786 |
| Carl M. Porto           |     |      54,750 |     |                    12,212 |     |              66,962 |
| Lawrence B. Seidman     |     |      60,800 |     |                         — |     |              60,800 |
| Total                   |     |     658,700 |     |                    49,537 |     |             708,237 |

(1) Stock awards represent the aggregate fair market value on the date of the grant for any grants made during 2024 and excludes any stock vesting from grants made prior to 2024.

(2) As of December 31, 2024, each director had the following number of unvested shares under restricted stock awards outstanding: Brathwaite (6,694), Dale (8,454), Demos (3,634), Drexler (8,454), Dunne (2,434), Kotval (2,434), Lampert (8,854), Leitão (—), Porto (6,694), and Seidman (4,934).

(3) Compensation in the form of perquisites and other personal benefits provided by the Company has been omitted for each director as the total amount of those perquisites and personal benefits for each constituted less than $10,000 for the year ended December 31, 2024.

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(4) Ms. Brathwaite did not stand for re-election at the 2024 annual meeting. Mr. Leitão was elected at the 2024 annual meeting.

(5) T he Company shifted the annual grants to directors to February 7th in 2024, with vesting to begin on the first anniversary of the grant date. Previously, awards were granted in December for the following year. On February 7, 2025, 1,800 shares of common stock were granted to each director which vests in three substantially equal annual installments commencing on February 7, 2026. 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, 2025 and which vests