Crocker Mary Jayne 4

What Happened
Mary Jayne Crocker, a director of Bridgewater Bancshares Inc (BWB), exercised stock options in late July 2026 and acquired shares at an exercise price of $7.47. Per the filing she acquired 31 shares on 2026-07-30 (value shown $232) and 39,958 shares on 2026-07-31 (value shown $298,486). To satisfy withholding/tax obligations related to the exercise, 14,575 shares were disposed on 2026-07-31 at $20.48 for proceeds of $298,496. There was also a small open-market sale of 11 shares on 2026-07-30 for $233. The filing shows corresponding derivative cancellations at $0, which reflect the options being exercised and surrendered.

Key Details

• Transaction dates and prices:
  • 2026-07-30: Exercised 31 options @ $7.47 (acquired; filing shows $232). Also sold 11 shares in open market @ $21.21 for $233.
  • 2026-07-31: Exercised 39,958 options @ $7.47 (acquired; filing shows $298,486). 14,575 shares disposed to pay exercise price/taxes @ $20.48 for $298,496.
  • Derivative entries showing $0 disposed reflect cancellation of option instruments upon exercise.
• Shares acquired via exercise (total): 39,989 shares (31 + 39,958). Shares sold/withheld: 14,586 total (14,575 withheld + 11 open-market).
• Shares owned after the transactions: not reported in the excerpt provided.
• Footnotes: Options were granted under the 2017 Combined Incentive and Non-Statutory Stock Option Plan (F1). Vesting schedules referenced in the filing include grants dated 10/1/2017 (20% increments over 5 years, F2), 12/6/2019 (25% increments over 4 years, F3), and 2/1/2022 (25% increments over 4 years, F4).
• Filing timeliness: no late-filing flag provided in the supplied data.

Context
These transactions are option exercises (code M) with shares sold to cover tax/withholding obligations (code F), which is a common post-exercise step and often routine. The exercise price ($7.47) is substantially below the sale/withholding price ($20.48), which produced the cash used to cover taxes. The small 11-share open-market sale is minor. Exercises do show an insider acquiring shares, but the withholding sale indicates cashless elements to the transaction rather than an outright open-market investment.