SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Espeseth Laura

(Last)

(First)

(Middle)

C/O BRIDGEWATER BANCSHARES, INC.

4450 EXCELSIOR BLVD., STE 100

(Street)

ST. LOUIS PARK

55416

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/26/2024

3. Issuer Name and Ticker or Trading Symbol
Bridgewater Bancshares Inc [ BWB ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Accounting Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	16,679	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Option to buy⁽¹⁾	⁽²⁾	09/30/2027	Common Stock	2,000	$7.47	D
Option to buy⁽¹⁾	⁽³⁾	08/31/2028	Common Stock	35,000	$12.86	D
Option to buy⁽¹⁾	⁽⁴⁾	08/01/2033	Common Stock	13,700	$10.65	D
Option to buy⁽⁵⁾	⁽⁴⁾	08/01/2033	Common Stock	1,300	$10.65	D

Explanation of Responses:

1. Option to buy granted under the 2017 Combined Incentive and Non-Statutory Stock Plan.

2. Option exercisable in 20% increments on the first five anniversaries of the date of the grant which was 10/1/2017.

3. Option exercisable in 20% increments on the first five anniversaries of the date of the grant which was 09/1/2018.

4. Option exercisable in 25% increments on the first four anniversaries of the date of the grant which was 08/01/2023.

5. Option to buy granted under the 2019 Equity Incentive Plan.

	/s/ Ben Klocke, Attorney-in-Fact	05/03/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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