Company: BWFG
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001505732-25-000079
Chunk: 30

Company: Bankwell Financial Group, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 30
---
double-trigger” severance benefits upon a change in control              |     | ü                |     | No repricing or exchange of underwater options without shareholder approval |
| ü          |     | Maintain executive share ownership/retention policy                                   |     | ü                |     | No option or stock appreciation rights granted below fair market value      |
| ü          |     | Maintain an anti-hedging and anti-pledging policy                                     |     | ü                |     | No significant perquisites                                                  |
| ü          |     | Use an independent compensation consultant                                            |     |                  |     |                                                                             |
| ü          |     | Maintain a “clawback” policy                                                          |     |                  |     |                                                                             |

<div align='center'>17</div>

#### 2024 Say on Pay and Shareholder Engagement
At the 2024 annual meeting of sharehol ders, 89.1% supported our executive compensation decisions. We carefully consider the results of our shareholder say-on-pay v ote as well as the feedback we receive from our shareholders during regular investor meetings, at which we always encourage an open dialogue and actively probe for questions, concerns and perspectives on our strategy and performance, governance, executive compensation, and other important business matters.

Although Bankwell qualifies as a smaller reporting company as defined by the SEC, which allows us to take advantage of scaled-back executive compensation disclosure requirements, we have included a more extensive narrative in this CD&A in order to enhance communication of the details in our executive compensation program. We remain committed to keeping an open dialogue with our shareholders to help ensure that we have an understanding of investor perspectives and to increasing our outreach efforts during 2025 and into the future.

### WHAT GUIDES OUR PROGRAM

#### Compensation Philosophy and Objectives
Our senior executives are integral to executing our strategic plan, driving performance that rewards all of our stakeholders, and achieving our growth goals. Our executive compensation program is designed to support these objectives and grounded in the following principles:

• Competitive with our peers . Target compensation should be competitive with that being offered to individuals in comparable roles at other companies with whom we compete for talent to ensure that we employ the best people to lead our success.

• Performance-based on collective results . The amount of executive pay must make sense in the context of overall Company financial performance as compared to goals set by the Board, industry averages and relevant peer groups.

• Alignment with shareholder interests . Executives should be compensated through pay elements (short- and long-term equity incentives) designed to enhance shareholder value