Anthony Bartolo - 21 Mar 2024 Form 4 Insider Report for Bandwidth Inc. (BAND)

Role
Chief Operating Officer
Signature
/s/ Leah Webb, Attorney-in-Fact for Anthony F. Bartolo
Issuer symbol
BAND
Transactions as of
21 Mar 2024
Net transactions value
-$146,234
Form type
4
Filing time
25 Mar 2024, 17:38:57 UTC
Previous filing
05 Mar 2024
Next filing
30 May 2024
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 +26,096 +45% $0.000000 84,267 21 Mar 2024 Direct
transaction BAND Class A Common Stock Sale $146,234 -7,798 -9.3% $18.75 76,469 22 Mar 2024 Direct F1, F2

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 -26,096 -33% $0.000000 52,192 21 Mar 2024 Class A Common Stock 26,096 Direct F3, F4
* 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 March 21, 2024, pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on March 3, 2023.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.63 to $19.01. The Reporting Person undertakes to provide Bandwidth Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 Each Restricted Stock Unit represents a contingent right to receive one share of the Company's Class A Common Stock.
F4 On March 21, 2022, the Reporting Person was granted 104,384 Restricted Stock Units, which vest in four equal annual installments beginning on March 21, 2023.