Shellberg Jeffrey D. 4

What Happened Jeffrey D. Shellberg, a director of Bridgewater Bancshares, sold 9,838 shares of the company's common stock on February 6, 2026. The shares were disposed at $18.89 per share for total proceeds of approximately $185,841. The Form 4 reports the transaction as an "S" (sale), listed as open-market/private sale.

Key Details

• Transaction date and price: Feb 6, 2026 — 9,838 shares at $18.89 each (total ≈ $185,841).
• Transaction type: Sale (Form 4 code S), reported as open-market/private sale.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes:
  • F1–F3 indicate the shares are held in three trusts (Jeffrey D. Shellberg Trust dated Oct 1, 2014; Susan K. Shellberg Family Trust dated July 16, 2024; Susan K. Shellberg Marital Trust dated July 16, 2024). Mr. Shellberg has voting and investment power over the shares held in these trusts.
• Filing timeliness: Reported and filed on Feb 6, 2026 (same date as the transaction), indicating a timely Form 4 filing.

Context This was a sale (disposition) of existing shares rather than a purchase or option exercise. Sales by insiders can be routine (e.g., for diversification or personal liquidity) and do not by themselves indicate company performance; purchases are generally considered a stronger signal of insider confidence. The trust holdings note shows these shares are held in trustee arrangements where Mr. Shellberg retains control over voting and investment decisions.