Jeffrey D. Shellberg, a director at Bridgewater Bancshares Inc., sold 160,000 shares of $BWB common stock on August 5, 2026, in an open-market transaction worth approximately $3.37 million. The shares traded at an average price of $21.04 each. Shellberg filed the Form 4 with the SEC the same day.
After the sale, Shellberg reported holding 106,187 shares.
The August 5 transaction was the largest single sale Shellberg has executed as a $BWB insider, both by share count and total dollar value. It was also the eleventh open-market sale he has reported since August 2025.
Shellberg's selling activity stretches back to August 14, 2025, when he sold 32,273 shares for roughly $517,000. He followed with two smaller sales later that month — 1,687 shares on August 15 and 6,040 shares on August 22 — bringing his August 2025 total to approximately $641,000 across 40,000 shares. A single sale of 21,936 shares followed in December 2025, generating about $390,000.
In February 2026, Shellberg sold 9,838 shares for roughly $186,000. Then, between late April and late May 2026, he executed five additional open-market sales: 2,512 shares on April 29, 62 shares on May 1, 9,252 shares on May 6, 8,174 shares on May 7, and 20,000 shares on May 21. Those five trades together accounted for 40,000 shares and approximately $740,000 in proceeds.
Across all ten prior sales, Shellberg sold approximately 111,774 shares of $BWB for total proceeds of roughly $1.96 million. The August 5 sale of 160,000 shares for $3.37 million represented more shares and a higher dollar amount than any individual prior transaction.
No other Bridgewater Bancshares insiders reported open-market trades during the same late-July to early-August window. No members of Congress disclosed trades in $BWB stock during the period reviewed.
Bridgewater Bancshares, headquartered in St. Louis Park, Minnesota, operates as the holding company for Bridgewater Bank. The stock closed at $20.96 on August 4, the session before Shellberg's trade, and had traded in a range of $20.11 to $21.26 over the prior week.