Raiford Daryl E 4

4 · Bandwidth Inc. · Filed Mar 3, 2026

AI-generated summary of this filing

Updated Mar 3, 2026

Bandwidth (BAND) CFO Daryl Raiford Converts RSUs; Withholds 5,481 Shares

What Happened

Daryl E. Raiford, CFO of Bandwidth Inc. (BAND), had restricted stock units (RSUs) convert to common shares on Feb 28 and Mar 2, 2026. The filing reports conversion/exercise (code M) of 22,502 RSUs into shares (5,730 + 6,170 on 2/28; 10,602 on 3/2).
To satisfy tax withholding obligations (code F), 2,899 shares were withheld on 2/28 at an effective value of $14.82/share ($42,963) and 2,582 shares were withheld on 3/2 at $15.11/share ($39,014), totaling 5,481 shares withheld and ~$81,977 in tax withholding.
Net result: +22,502 shares acquired via RSU conversion, 5,481 shares withheld for taxes, yielding a net increase of 17,021 shares held by the reporting person (shares owned after transaction not specified in the filing).

Key Details

Transaction dates and amounts:
- 2026-02-28: Converted 5,730 RSUs and 6,170 RSUs; 2,899 shares withheld at $14.82 (F) = $42,963.
- 2026-03-02: Converted 10,602 RSUs; 2,582 shares withheld at $15.11 (F) = $39,014.
Transaction codes: M = exercise/conversion of derivative (RSUs); F = shares withheld to satisfy tax liability.
Footnotes: F1–F4 indicate these were restricted stock units (each RSU = right to one share) from grants on 11/28/2023, 11/28/2024 and 5/30/2023 with multi-year vesting schedules. Some grants began quarterly vesting on 2/28 in relevant years.
Filing timeliness: the filing was submitted 2026-03-03 for a reporting period including 2026-02-28; the report does not indicate any late-filing code in the filing text provided here.
Shares owned after the transactions were not listed in the provided summary.

Context

These transactions are conversions/settlements of RSUs at vesting, not open-market purchases or voluntary sales. The withheld shares were used to cover tax liabilities (a common practice), not necessarily an indication of the CFO selling stock for liquidity.
For retail investors, RSU vesting increases insider’s net holdings (here a net +17,021 shares) which can be informative, but tax-withholding dispositions are routine and not typically a market-sentiment signal.

Form 4

Period: 2026-02-28

Chief Financial Officer

Transactions

Exercise/Conversion
Class A Common Stock
2026-02-28+5,730→ 118,112 total
Exercise/Conversion
Class A Common Stock
2026-02-28+6,170→ 124,282 total
Tax Payment
Class A Common Stock
2026-02-28$14.82/sh−2,899$42,963→ 121,383 total
Exercise/Conversion
Class A Common Stock
2026-03-02+10,602→ 131,985 total
Tax Payment
Class A Common Stock
2026-03-02$15.11/sh−2,582$39,014→ 129,403 total
Exercise/Conversion
Restricted Stock Units
[F1][F2]
2026-02-28−5,730→ 17,192 total
→ Class A Common Stock (5,730 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F3]
2026-02-28−6,170→ 43,190 total
→ Class A Common Stock (6,170 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F4]
2026-03-02−10,602→ 10,602 total
→ Class A Common Stock (10,602 underlying)

Footnotes (4)

[F1]Each Restricted Stock Unit represents a contingent right to receive one share of Bandwidth Inc. Class A Common Stock.
[F2]On November 28, 2023, the Reporting Person was granted 68,767 Restricted Stock Units, one third of which vested on the first anniversary of the date of grant and the remaining shares vest in eight equal quarterly installments beginning on February 28, 2025.
[F3]On November 28, 2024, the Reporting Person was granted 74,040 Restricted Stock Units, one third of which vested on the first anniversary of the date of grant and the remaining shares vest in eight equal quarterly installments beginning on February 28, 2026.
[F4]On May 30, 2023, the Reporting Person was granted 127,226 Restricted Stock Units, one third of which vested on the first anniversary of the date of grant and the remaining shares vest in eight equal quarterly installments beginning on August 30, 2024.

Signature

/s/ Leah Webb, Attorney-in-Fact for Daryl E. Raiford|2026-03-03

1 file