Salazar Lisa M 4

What Happened

• Lisa M. Salazar, Chief Operating Officer of Bridgewater Bancshares, exercised 1,931 stock options on 2026-06-10, acquiring 1,931 shares at an exercise price of $12.94 per share for a cash outlay of $24,987. The filing also shows a simultaneous disposition of 1,931 shares in a related derivative transaction (reported proceeds $0), which typically reflects a cashless exercise or share surrender to cover exercise costs/tax withholding rather than an open-market sale.

Key Details

• Transaction date: 2026-06-10; Form 4 filed: 2026-06-11 (timely).
• Exercise (code M): 1,931 shares acquired at $12.94 each; total cash paid $24,987.
• Related disposition (code X): 1,931 shares disposed, $0 proceeds reported (derivative).
• Footnotes: Options granted under the 2017 Combined Incentive and Non-Statutory Stock Option Plan (F1). Vesting schedules referenced for grants dated 10/01/2018 (20% yearly first 5 yrs, F2), 12/06/2019 (25% yearly first 4 yrs, F3), and 02/01/2022 (25% yearly first 4 yrs, F4).
• Shares owned following the transactions: not specified in the supplied details.

Context

• This was an option exercise (an acquisition of shares via exercising vested options) with an immediate related disposition of the same number of shares. That pattern is commonly a cashless exercise or sell-to-cover to satisfy exercise costs or tax withholding and does not necessarily reflect an open-market sale or broader change in sentiment.