<div id="readability-page-1"><div>Shellberg Jeffrey D Officer and Director of Bridgewater Bancshares Inc [BWB] filed a Form 4 on December 9, 2025 with the Securities and Exchange Commission disclosing the following changes in ownership:<div><table><tbody><tr><th>Date</th><th>Transaction</th><th>Shares</th><th>Price</th><th>Value</th></tr><tr><td>12/6/25</td><td>Surrender(1)</td><td>669</td><td>$17.84</td><td>$11,935</td></tr><tr><td>12/9/25</td><td>Sale</td><td>21,936</td><td>$17.78</td><td>$389,989</td></tr></tbody></table></div>Ending Holdings: 784,924 (277,924 - Direct, 507,000 - Indirect)<ul><li>(1)</li><li>Surrender of shares back to company to pay option exercise cost and/or resulting tax liability.</li></ul>For a free trial, or to learn more about our insider trading analysis and data services, please visit http://www.washingtonservice.com or contact us at (301) 913-5100 or send an email to info@washingtonservice.com.Founded in 1970, The Washington Service provides securities professionals with financial, economic and public policy research and data. </div></div>

Jeffrey D. Shellberg, Officer and Director of Bridgewater Bancshares Inc, sold 21,936 shares worth $390K on December 9, 2025. The transaction was disclosed in a Form 4 filed with the SEC. Shellberg's ending holdings are 784,924 shares, with 277,924 held directly and 507,000 indirectly. The sale was part of insider trading activity.

Officer/Dir Shellberg Sells 21,936 ($390K) Of Bridgewater Bancshares Inc [BWB]