Agarwal Devesh 4
4 · Bandwidth Inc. · Filed Jun 1, 2026
Research Summary
AI-generated summary of this filing
Bandwidth (BAND) COO Devesh Agarwal Sells Shares After RSU Conversion
What Happened
- Devesh Agarwal, Chief Operating Officer of Bandwidth Inc. (BAND), converted/ exercised derivatives (vested RSUs) into 11,231 shares on May 28, 2026 (acquired at $0) and sold 4,066 of those shares in open-market transactions on May 29, 2026 for a total of approximately $239,266. The open-market sales were executed at weighted-average prices reported as $58.37 (2,322 shares), $59.48 (1,737 shares) and one trade of 7 shares at $60.00.
Key Details
- Transaction dates: May 28, 2026 (conversion/exercise of derivatives); May 29, 2026 (open-market sales).
- Sales detail and proceeds: 2,322 shares @ $58.37 (≈ $135,534); 1,737 shares @ $59.48 (≈ $103,312); 7 shares @ $60.00 (≈ $420). Total proceeds ≈ $239,266.
- Conversions: 11,231 shares shown as acquired at $0 on May 28 (derivative conversions—see footnotes).
- Footnotes of note:
- F3: Each Restricted Stock Unit (RSU) converts to one share of Class A common stock.
- F4–F6: Describes prior RSU grants and vesting schedules (grants on Nov 28, 2023; Nov 28, 2024; Feb 28, 2025; remaining vesting installments began or begin in 2025–2026).
- F1–F2: Reported sale prices are weighted averages; actual sale prices ranged from $57.88 to $59.75 across multiple trades. The reporting person can provide per-trade price details on request.
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Timeliness: Filed June 1, 2026; the filing does not indicate a late report.
Context
- These entries show conversion of vested RSUs (derivative conversion at $0) followed by an open-market sale of a portion of the resulting shares. This is common when executives receive vested awards and sell some shares to cover taxes, diversify, or for other personal reasons; the filing itself does not state the insider’s motivation.
- For retail investors: purchases are often seen as a stronger signal of insider conviction than routine sales tied to vesting. This report documents a partial sale after vesting, not a purchase.
Insider Transaction Report
Form 4
Bandwidth Inc.BAND
Agarwal Devesh
Chief Operating Officer
Transactions
- Exercise/Conversion
Class A Common Stock
2026-05-28+3,928→ 65,342 total - Exercise/Conversion
Class A Common Stock
2026-05-28+2,085→ 67,427 total - Exercise/Conversion
Class A Common Stock
2026-05-28+5,218→ 72,645 total - Sale
Class A Common Stock
[F1]2026-05-29$58.37/sh−2,322$135,534→ 70,323 total - Sale
Class A Common Stock
[F2]2026-05-29$59.48/sh−1,737$103,312→ 68,586 total - Sale
Class A Common Stock
2026-05-29$60.00/sh−7$420→ 68,579 total - Exercise/Conversion
Restricted Stock Units
[F3][F4]2026-05-28−3,928→ 7,854 total→ Class A Common Stock (3,928 underlying) - Exercise/Conversion
Restricted Stock Units
[F3][F5]2026-05-28−2,085→ 12,512 total→ Class A Common Stock (2,085 underlying) - Exercise/Conversion
Restricted Stock Units
[F3][F6]2026-05-28−5,218→ 36,527 total→ Class A Common Stock (5,218 underlying)
Footnotes (6)
- [F1]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.88 to $58.88. The Reporting Person undertakes to provide Bandwidth Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F2]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $58.89 to $59.75. The Reporting Person undertakes to provide the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F3]Each Restricted Stock Unit represents a contingent right to receive one share of the Company's Class A Common Stock.
- [F4]On November 28, 2023, the Reporting Person was granted 47,127 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.
- [F5]On November 28, 2024, the Reporting Person was granted 25,023 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.
- [F6]On February 28, 2025, the Reporting Person was granted 62,617 Restricted Stock Units, one third of which will vest on the first anniversary of the date of grant and the remaining shares will vest in eight equal quarterly installments beginning on May 28, 2026.
Signature
/s/ Leah Webb, Attorney-in-Fact for Devesh Agarwal|2026-06-01