Brian D. Bailey - May 27, 2020 Form 4 Insider Report for Bandwidth Inc. (BAND)

Role: Director
Signature: /s/ Leah Webb, Attorney-in-Fact for Brian D. Bailey
Stock symbol: BAND
Transactions as of: May 27, 2020
Transactions value $: $0
Form type: 4
Date filed: 5/15/2024, 05:33 PM
Next filing: Jul 2, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BAND	Class A Common Stock	Conversion of derivative security	$0	+8.75K	+21.97%	$0.00	48.6K	May 27, 2020	See footnotes	F1, F2, F3

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	Class B Common Stock	Conversion of derivative security	$0	-8.75K	-100%	$0.00^*	0	May 27, 2020	Class A Common Stock	8.75K		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	Carmichael Bandwidth LLC is the managing member of each of the Carmichael Entities (as defined below in footnote 2). 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 the Carmichael Entities (as defined below in footnote 2) and Carmichael Partners LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.
F2	Following the transactions reported herein, consists of (i) 1,517 shares of Class A Common Stock held by Carmichael Investment Partners, LLC; (ii) 8,750 shares of Class A Common Stock held by Carmichael Partners, LLC ("CP"); (iii) 908 shares of Class A Common Stock held by Carmichael Investment Partners II, LLC ("CIP II"); (iii) 608 shares of Class A Common Stock held by Carmichael Investment Partners III, LLC ("CIP III" and, together with CP and CIP II, the "Carmichael Entities") and (iv) 36,792 shares of Class A Common Stock held of record by Brian D. Bailey.
F3	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.
F4	The shares of Class B Common Stock are convertible into Class A Common Stock on a 1-to-1 basis at the option of the holder and have no expiration date.