Common Stock, No Par Value

Bankwell Financial Group Inc

258 Elm Street, New Canaan, CT, 06840

Item 5 is hereby amended and restated to read as follows: The aggregate percentage of Shares reported owned by each Reporting Person is based upon 7,873,387 Shares outstanding, which is the total number of Shares outstanding as of April 30, 2025, as reported in the Issuer's 10-Q filed with the Securities and Exchange Commission on May 7, 2025. An aggregate of 748,994, contituting approximately 9.51% of the Shares outstanding, are reported by the Reporting Persons in this statement.

As of the close of business on July 1, 2025: SAL beneficially owned 178,193 Shares, approximately 2.26% and SAL has not transacted in the Shares during the past 60 days. SIP beneficially owned 128,045 Shares, approximately 1.63% and SIP has not transacted in the Shares during the past 60 days. SIPII beneficially owned 168,997 Shares, approximately 2.15% and SIPII has not transacted in the Shares during the past 60 days. LSBK beneficially owned 104,626 Shares, approximately 1.33% and LSBK has not transacted in the Shares during the past 60 days. Broad Park beneficially owned 127,042 Shares, approximately 1.61% and Broad Park has not transacted in the Shares during the past 60 days. Chewy beneficially owned 19,539 Shares, approximately 0.25% and Chewy has not transacted in the Shares during the past 60 days. Veteri, (i) as the general partner of each of SIP and SIPII may be deemed the beneficial owner of the 128,045 Shares owned by SIP and the 168,997 Shares owned by SIPII. Accordingly, Veteri may be deemed the beneficial owner of an aggregate of 297,042 Shares, approximately 3.77%. Veteri has not entered into any transactions in the Shares during the past 60 days. Seidman beneficially owned 22,552 Shares, approximately 0.29%, and (i) as the Managing Member of SAL may be deemed the beneficial owner of the 178,193 Shares owned by SAL, (ii) as the sole officer of Veteri, the general partner of each SIP and SIPII, may be deemed the beneficial owner of the 128,045 Shares owned by SIP and the 168,997 Shares owned by SIPII, (iii) as the Investment Managing Member of LSBK, may be deemed the beneficial owner of the 104,626 Shares owned by LSBK, (iv) as the investment manager for each Broad Park and Chewy, may be deemed the beneficial owner of the 104,626 Shares owned by Broad Park, and the 19,539 Shares owned by Chewy. Accordingly, Seidman may be deemed the beneficial owner of an aggregate of 748,994 Shares, approximately 9.51%. In the foregoing capacities, Seidman has sole and exclusive investment discretion and voting authority with respect to all such Shares. Seidman's transactions in the Shares during the past 60 days are set forth in Exhibit 1.

An aggregate pf 748,994 Shares, contituting approximately 9.51% of the Shares outstanding, are reported by the Reporting Persons in this statement. Each of the Reporting Persons, as a member of a "group" with the other Reporting Persons for purposes of Rule 13d-5(b)(1) of the Exchange Act, may be deemed to beneficially own the Shares owned by the other Reporting Persons. The filing of this Schedule 13D shall not be deemed an admission that any of the Reporting Persons is, for purposes of section 13(d) of the Exchange Act, the beneficial owner of any Shares he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the Shares reported herein that he or it does not directly own. To the best of the Reporting Persons' knowledge, except as set forth in this Schedule 13D, none of the persons listed on Schedule A to the Schedule13D beneficially owns any securities of the Issuer.

No person other than the Reporting Persons is known to have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.