Bandwidth (BAND) COO Devesh Agarwal Sells Shares

What Happened

• Devesh Agarwal, Chief Operating Officer of Bandwidth Inc. (BAND), reported an open-market sale of 3,173 shares on August 10, 2026 for a weighted average price of $50.45, totaling $160,087.
• The filing also shows a conversion/exercise of 7,370 derivative units on August 8, 2026 at $0.00 (7,370 shares acquired), and a simultaneous reporting of 7,370 derivative shares disposed at $0.00. The conversion corresponds to a vesting installment of previously granted Restricted Stock Units.

Key Details

• Transaction dates and prices:
  • Aug 8, 2026: Conversion/exercise of 7,370 RSU-derived shares at $0.00 (acquired) and 7,370 derivative shares reported disposed at $0.00.
  • Aug 10, 2026: Open-market sale of 3,173 shares at a weighted average price of $50.45 (total reported proceeds $160,087). Footnote reports actual sale prices ranged $50.085–$51.02.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes:
  • F1: Weighted-average sale price; seller can provide per-price breakdown on request.
  • F2: Each Restricted Stock Unit (RSU) equals one share.
  • F3: The 7,370 shares reflect one of four equal annual vesting installments from a 29,481-RSU grant made Aug 8, 2022.
• Filing timeliness: Report filed Aug 10, 2026 for transactions on Aug 8 and Aug 10 — appears to be timely under standard Section 16 reporting (filed within two business days).

Context

• The Aug 8 conversion reflects RSU vesting (each RSU converts to one share). The matching $0.00 derivative disposition often indicates shares were withheld to cover taxes or similar obligations, though the filing does not explicitly state the reason.
• The Aug 10 sale was an open-market transaction; sales by insiders can be routine (e.g., tax or diversification) and do not by themselves indicate company outlook. There were no purchases reported in this filing.