Jerry Baack [Dec 31

Chairman of the Board, Chief Executive Officer (CEO), and President at Bridgewater Bancshares

Board

Since 2005

Age

57 years

Education

Earned a B.S. degree from Minnesota State University, Mankato and is an alumnus of the Graduate School of Banking at Colorado, Boulder.

Tenure

Joined BWB as its lead founder in 2005 and has served as Chairman of the Board, CEO, and President since inception.

Also at Bridgewater Bancshares

JS[3

Jeff Shellberg [Dec 31

Executive Vice President and Chief Credit Officer

LS[3

Lisa Salazar [Dec 31

Chief Deposit Officer

MJC[3

Mary Jayne Crocker [Dec 31

Executive Vice President and Chief Strategy Officer

About

Jerry Baack is the lead founder and current executive of Bridgewater Bancshares, Inc. serving as Chairman of the Board, Chief Executive Officer, and President.

With a career spanning over 30 years in banking and prior experience as a regulator, he has been instrumental in guiding the institution through various economic challenges while maintaining continuous profitability.

His extensive background in banking, complemented by his academic credentials, has established him as a pivotal figure in the financial industry, consistently leading the company towards growth and effective risk management.

$BWB Performance Under Jerry Baack [Dec 31

Past Roles

Organization	Role	Date Range	Details
Federal Deposit Insurance Corporation (FDIC)	Bank Examiner	1990 - 1997	Worked for seven years as a bank examiner
Commerce Bank	Various Positions	N/A	Position details not provided
First State Bank of Excelsior	Various Positions	N/A	Position details not provided
Hampton Bank	Various Positions	N/A	Position details not provided

External Roles

Organization	Role	Date Range	Details
Marquette University	Advisory Board Member for Commercial Banking Program	Current as of Dec 31	N/A

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$650,000	Annual	Fixed cash compensation
401(k) Plan Contribution	$24,150	Annual	Company matching and profit-sharing contributions
Perquisites	$23,839	Annual	Includes monthly automobile allowance (not separately disclosed), health club memberships, and other benefits

Performance Compensation

Data from FY 2024

Annual Cash Incentive (Bonus)

Metric	Value	Additional Details
Threshold	$365,625	Minimum performance level required for bonus payout
Target	$487,500	Corresponds to 100% of target bonus
Maximum	$609,375	Cap at 150% of target bonus
Evaluation Period	Fiscal Year 2024	Based on achievement of annual strategic objectives

Restricted Stock Units (RSUs)

Metric	Value	Additional Details
Grant Date	Feb 2, 2024	Date the RSUs were granted
Number of Shares Granted	17,152 RSUs	Total units granted
Grant Date Fair Value	$203,937	Calculated based on applicable accounting guidance
Grant Date Stock Price	$11.89	Share price on grant date
Vesting Schedule	25% on each anniversary for 4 years	Accelerated vesting upon change in control, death, or disability

Non-Equity Incentive Plan Compensation

Metric	Value	Additional Details
PPNR Threshold Performance	$39,113,000	Payout at 50% of target bonus if met
PPNR Target Performance	$57,365,000	Payout at 100% of target bonus
PPNR Maximum Performance	$63,102,000	Payout at 150% of target bonus
Bonus Opportunity	75% of annual base salary	Annual incentive opportunity amount
Weighting	50% PPNR / 50% Individual Goals	Bonus split equally between PPNR performance and individually set goals
Evaluation Period	Fiscal Year 2024	Measured using a sliding scale for payout based on performance thresholds