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Bandwidth Inc.·4

Mar 3, 4:08 PM ET

Raiford Daryl E 4

Research Summary

AI-generated summary

Updated

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.