Devin M. Krupka - 02 Nov 2023 Form 4 Insider Report for Bandwidth Inc. (BAND)

Role
Controller, PAO
Signature
/s/ Leah Webb, Attorney-in-Fact for Devin M. Krupka
Issuer symbol
BAND
Transactions as of
02 Nov 2023
Net transactions value
-$102
Form type
4
Filing time
06 Nov 2023, 17:11:15 UTC
Previous filing
18 Apr 2023
Next filing
30 Nov 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BAND Class A Common Stock Options Exercise $0 +31 +1.2% $0.000000 2,588 02 Nov 2023 Direct
transaction BAND Class A Common Stock Sale $102 -8 -0.31% $12.71 2,580 03 Nov 2023 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BAND Restricted Stock Units Options Exercise $0 -31 -49% $0.000000 32 02 Nov 2023 Class A Common Stock 31 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Reflects shares sold to cover taxes upon the vesting of Restricted Stock Units on November 2, 2023, pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on May 5, 2023.
F2 Each Restricted Stock Unit represents a contingent right to receive one share of the Company's Class A Common Stock.
F3 On November 2, 2020, the Reporting Person was granted 190 Restricted Stock Units, half of which vest in four equal quarterly installments beginning on February 2, 2021, and the remainder vest in three equal annual installments beginning on November 2, 2022.