Roush Lukas M. 4

What Happened
Lukas M. Roush, a director of Bandwidth Inc. (BAND), reported the exercise/conversion of 3,333 derivative units into 3,333 shares on February 28, 2026 (transaction code M). The filing also reports a corresponding disposition of 3,333 derivative shares on the same date. Both transactions show a $0.00 per-share price (no cash paid), consistent with the conversion/vesting of restricted stock units rather than a market purchase.

Key Details

• Transaction date: 2026-02-28; Filing date: 2026-03-02. Form 4 filings are normally due within two business days of the transaction.
• Acquired: 3,333 shares via exercise/conversion at $0.00 per share.
• Disposed: 3,333 shares (derivative) at $0.00 per share.
• Shares owned after transaction: the filing does not state a total holdings number; it notes an adjustment reducing reported holdings by 153.915 shares due to a scrivener's error (Footnote F1).
• Footnotes of note:
  • F2: Each Restricted Stock Unit (RSU) represents a right to receive one share of Class A common stock when settled.
  • F3: Roush was granted 13,333 RSUs on Nov 28, 2025 that vest in four equal quarterly installments beginning Feb 28, 2026 — the 3,333 figure matches one vesting tranche.
• Transaction code M indicates exercise or conversion of a derivative instrument.

Context
This filing appears to reflect the scheduled vesting/conversion of RSUs (one quarterly tranche) rather than an open-market buy or deliberate sale for investment purposes. Because the report shows both a conversion/acquisition and a matching disposition on the same date, the disposition may be administrative (e.g., related to settlement or withholding), but the filing itself does not state the reason.