David A. Morken - Nov 2, 2023 Form 4 Insider Report for Bandwidth Inc. (BAND)

Role
Chairman & CEO, Director
Signature
/s/ Leah Webb, Attorney-in-Fact for David A. Morken
Stock symbol
BAND
Transactions as of
Nov 2, 2023
Transactions value $
-$1,042
Form type
4
Date filed
11/6/2023, 05:08 PM
Previous filing
Apr 27, 2023
Next filing
Nov 30, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BAND Class A Common Stock Options Exercise $0 +317 +0.91% $0.00 35.3K Nov 2, 2023 Direct
transaction BAND Class A Common Stock Sale -$1.04K -82 -0.23% $12.71 35.2K Nov 3, 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 -317 -50% $0.00 317 Nov 2, 2023 Class A Common Stock 317 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 March 3, 2023.
F2 Each Restricted Stock Unit represents a contingent right to receive one share of the Company's Class A Common Stock.
F3 One half of the Restricted Stock Units vest in four, equal quarterly installments beginning on February 2, 2021 and the remaining shares vest in three, equal annual installments beginning on November 2, 2022.