Brian D. Bailey - 21 Nov 2025 Form 4 Insider Report for Bandwidth Inc. (BAND)

Role
Director
Signature
/s/ Leah Webb, Attorney-in-Fact for Brian D. Bailey
Issuer symbol
BAND
Transactions as of
21 Nov 2025
Net transactions value
-$41,798
Form type
4
Filing time
24 Nov 2025, 16:06:40 UTC
Previous filing
02 Sep 2025
Next filing
02 Dec 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Bailey Brian D. Director C/O CARMICHAEL INVESTMENT PARTNERS LLC, 4725 PIEDMONT ROW DRIVE, SUITE 210, CHARLOTTE /s/ Leah Webb, Attorney-in-Fact for Brian D. Bailey 24 Nov 2025 0001575505

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BAND Class A Common Stock Sale $41,798 -3,033 -4.6% $13.78 63,398 21 Nov 2025 See footnotes F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.525 to $13.92. 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.
F2 Carmichael Bandwidth LLC is the managing member of each of Carmichael Partners, LLC ("CP"); Carmichael Investment Partners II, LLC ("CP II"); and Carmichael Investment Partners III, LLC ("CP III"). Brian D. Bailey and Kevin J. Martin are the managing partners of Carmichael Bandwidth LLC and Carmichael Partners LLC and share voting and dispositive power with respect to the shares held by CP, CP II and CP III. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.
F3 Following the transactions reported herein, consists of 8,750 shares of Class A Common Stock held by Carmichael Partners, LLC and 54,648 shares of Class A Common Stock held of record by Brian D. Bailey.
F4 Pursuant to an agreement between Mr. Bailey and Carmichael Partners LLC, Carmichael Partners LLC is entitled to all economic benefit with respect to 7,234 shares held by Mr. Bailey.