[144] Bandwidth Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 filed for Bandwidth Inc. (BAND) shows a proposed sale of 19,000 common shares through Morgan Stanley Smith Barney, with an aggregate market value of $297,350 and an approximate sale date of 09/05/2025 on NASDAQ. The filing reports the securities were acquired via restricted stock vesting on 11/28/2024 (15,674 shares) and 11/30/2024 (6,231 shares). It also discloses multiple recent sales by the seller (Daryl Raiford) between 07/22/2025 and 09/04/2025 totaling several thousand shares and gross proceeds listed per sale. The filer certifies there is no undisclosed material adverse information and includes the standard signature/attestation language.

Positive

• Clear compliance and transparency: The filing identifies broker, sale date, share count, and acquisition details.
• Detailed prior sales disclosed: Multiple recent sale dates and gross proceeds are provided, aiding investor visibility.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider sale notice; disclosure supports market transparency without indicating material company changes.

The Form 144 documents a planned sale of 19,000 common shares valued at $297,350, sourced from recent restricted stock vesting. The filing provides itemized prior sales and gross proceeds, enabling investors to track insider liquidity. Relative to the issuer's reported outstanding shares (28,183,017), the proposed sale is immaterial in size and consistent with routine post-vesting dispositions. The filing includes the standard attestation that no undisclosed material adverse information exists.

Corporate Governance Expert

TL;DR: Compliance-focused disclosure shows insider followed Rule 144 procedures and reported past transactions.

The notice names the broker, planned sale date, and acquisition method (restricted stock vesting), which aligns with standard governance and securities law compliance. Listing recent sales with dates and proceeds enhances transparency about the insider's trading activity. The attestation language reiterates the legal representation required on these notices. There is no disclosure of any governance or control changes in this filing.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	19000	297350.00	28183017	09/05/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	11/28/2024	Restricted stock vesting under a registered plan	Issuer			15674	11/28/2024	N/A
Common	11/30/2024	Restricted stock vesting under a registered plan	Issuer			6231	11/30/2024	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Daryl Raiford c/o Bandwidth Inc. 2230 Bandmate Way Raleigh NC 27607	Common	07/22/2025	1849	28591.83
Daryl Raiford c/o Bandwidth Inc. 2230 Bandmate Way Raleigh NC 27607	Common	07/23/2025	1136	17778.40
Daryl Raifrod c/o Bandwidth Inc. 2230 Bandmate Way Raleigh NC 27607	Common	08/29/2025	3488	52616.83
Daryl Raifrod c/o Bandwidth Inc. 2230 Bandmate Way Raleigh NC 27607	Common	09/02/2025	2150	32162.28
Daryl Raifrod c/o Bandwidth Inc. 2230 Bandmate Way Raleigh NC 27607	Common	09/03/2025	4117	62708.09
Daryl Raifrod c/o Bandwidth Inc. 2230 Bandmate Way Raleigh NC 27607	Common	09/04/2025	2594	40108.69

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Bandwidth's (BAND) Form 144 announce?

The Form 144 notifies a proposed sale of 19,000 common shares with an aggregate market value of $297,350, slated for 09/05/2025 on NASDAQ.

Who is selling the shares reported on the Form 144?

The past-sales section names Daryl Raiford as the seller for multiple transactions; the proposed sale lists Morgan Stanley Smith Barney as the broker handling the 19,000-share sale.

How were the shares being sold acquired?

The securities were acquired via restricted stock vesting on 11/28/2024 (15,674 shares) and 11/30/2024 (6,231 shares).

Are recent insider sales disclosed in this filing?

Yes. The filing lists multiple sales between 07/22/2025 and 09/04/2025 with amounts and gross proceeds for each transaction.

Does the filer assert there is any undisclosed adverse information?

By signing the notice the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed.