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Bridgewater Bancshares Inc [BWB]

Reporting date: 10/09/2025

⚠️ Neutral Insider Mix Detected

📝 What Happened

  • Insider: Shellberg Jeffrey D.
  • Role: Director
  • Company: Bridgewater Bancshares Inc (BWB)
  • Transaction Date(s): 2025-10-09
  • Table I (Non-Derivative Securities)
    • Sale : 54,882
    • Average Sale Price: $0.00
    • Total Value: $0.00
    • Post-Transaction Direct Holdings: 289,613
    • Indirect Holdings: 372,272 (plus 87,000 and 65,000 in separate trusts)
    • 10b5-1 Plan Used? No

📄 Summary

Shellberg Jeffrey D., Director at Bridgewater Bancshares Inc (BWB), mixed 54,882 shares on October 9, 2025, at an average price of $0.00, realizing proceeds of about ~$0.00. After the transaction, he now holds 289,613 direct shares; indirect holdings of 372,272 (plus 87,000 and 65,000 in separate trusts). For retail traders, this is a neutral event: transfer to trusts rather than an open-market cash sale.

🔑 Interpretation

  • Type: Discretionary transfer (gift/transfer to trusts) — not a compensation issuance.
  • Disposition: Shares were transferred/gifted to trusts (not sold on the open market for cash).
  • Size Context: The 54,882-share transfer reduced direct holdings from roughly 344,495 to 289,613 (about a ~16% reduction of prior direct holdings). This appears to be a moderate-sized estate/trust restructuring rather than clear profit-taking.
  • ATH Metric: Using recent price context (up to yesterday's close), there is no clear indication this transfer occurred at an all-time high or low; the trade appears timing-neutral and not opportunistically tied to ATH/ATL extremes.
  • Outlier Check: Nothing in this single filing indicates an unusually large or atypical transfer for this insider; it reads like a routine trust transfer rather than an extraordinary disposition.

📊 Bullish or Bearish?

Decide: Neutral

Neutral. The filing shows a transfer (SEC code G — gift/transfer) of shares between direct and indirect holdings rather than a market sale or a purchase; ownership in aggregate did not materially decrease and the move is consistent with estate/trust structuring rather than a signal of loss of confidence. Data completeness is good for this event, but cluster activity cannot be determined from this filing alone.

✅ Bottom Line (Retail Takeaway)

This transaction looks like a routine transfer to trusts rather than a bearish signal. For retail traders, it’s noise — not a tradeable event unless corroborated by multiple insiders selling or senior officers (CEO/CFO) doing significant open-market disposals.