Raiford Daryl E 4

What Happened
Daryl E. Raiford, Chief Financial Officer of Bandwidth Inc. (BAND), sold a total of 22,957 shares in open‑market transactions on March 4–5, 2026 for aggregate proceeds of approximately $365,086. Individual reported dispositions:

• Mar 4, 2026 — 9,701 shares at $15.70 each, proceeds $152,331.
• Mar 4, 2026 — 2,356 shares at $16.49 each, proceeds $38,841.
• Mar 4, 2026 — 5,800 shares at $15.76 each, proceeds $91,398.
• Mar 5, 2026 — 5,100 shares at $16.18 each, proceeds $82,516.
  These transactions are sales (not purchases) and were reported on a Form 4 filed March 6, 2026.

Key Details

• Transaction dates: March 4 and March 5, 2026. Filing date: March 6, 2026 (timely).
• Total shares sold: 22,957; total reported proceeds: ~$365,086.
• Reported per‑share prices are weighted averages; footnotes indicate the underlying trades were executed at multiple prices with ranges disclosed in the filing (examples: $15.36–$16.35, $16.36–$16.58, $15.61–$16.60, $16.12–$16.24). The filer offers to provide the specific breakdown on request.
• Footnote: sales were made pursuant to a Rule 10b5‑1 trading plan adopted by the reporting person on December 3, 2025.
• Shares owned after the transaction: not provided in the material supplied here.
• Filing timeliness: no late filing indicated in the provided data (filed two days after the first trades; within the usual Form 4 deadline).

Context
Sales executed under a Rule 10b5‑1 plan are pre‑arranged and often reflect routine, scheduled disposition rather than an ad hoc decision based on recent company developments. For retail investors, purchases by insiders tend to be a stronger signal than routine sales; these transactions should be viewed as dispositions made under a pre‑established plan unless other information suggests otherwise.