Morken David A. 4

What Happened

• David A. Morken, Bandwidth’s Chairman & CEO, received 36,085 shares when restricted stock units (RSUs) vested on Feb 20, 2026 (reported as a conversion/exercise, code M). Immediately, 10,256 of those shares were disposed to satisfy tax withholding (code F) at $15.12 per share, generating $155,071 in proceeds/withheld amount. Net shares added to his holdings from this event: 25,829 shares (36,085 acquired − 10,256 withheld).

Key Details

• Transaction date: 2026-02-20; Filing date: 2026-02-23 (filed timely).
• Acquired: 36,085 shares at $0.00 (RSU vesting/conversion; code M).
• Disposed (tax withholding): 10,256 shares at $15.12, totaling $155,071 (code F).
• Shares owned after transaction: not specified in the reported excerpt.
• Footnote: F1 — 36,085 Restricted Stock Units were granted and vested immediately on Feb 20, 2026.
• Transaction types: M = exercise/conversion of derivative (here, RSU vesting); F = shares withheld/sold to satisfy tax liability.

Context

• This appears to be a routine RSU vesting and tax-withholding sale rather than an open-market investment decision. After withholding, Morken retained a net of 25,829 newly issued shares from the award. Such tax-withholding dispositions are common when equity awards vest and do not necessarily indicate a buy/sell signal.