Bandwidth CEO exercises RSUs, sells 4.6K shares
Bandwidth Inc. Chairman & CEO David A. Morken reported a mix of option exercises and stock sales.
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Form Type
4
Rhea-AI Filing Summary
Bandwidth Inc. Chairman & CEO David A. Morken reported a mix of option exercises and stock sales. On May 28, 2026, he exercised 11,830 Restricted Stock Units, each representing one share of Class A Common Stock, at a conversion price of $0.00 per unit.
On May 29, 2026, he sold 4,632 shares of Class A Common Stock in open-market transactions at weighted average prices of $58.37, $59.48, and $60.00 per share, with prices ranging from $57.88 to $59.75. After these trades, he directly held 7,198 Class A shares and continued to hold unvested Restricted Stock Units from prior grants of 92,725 and 49,234 units that vest over time.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
7 txns
Insider
Morken David A.
Role
Chairman & CEO
Sold
4,632 shs ($273K)
Approx. gross sale proceeds
$273K
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 2,645 | $58.3693 | $154K |
| Sale | Class A Common Stock | 1,978 | $59.4771 | $118K |
| Sale | Class A Common Stock | 9 | $60.00 | $540.00 |
| Exercise | Restricted Stock Units | 7,727 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 4,103 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 7,727 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 4,103 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 40,071 contracts (Direct);
Class A Common Stock — 7,198 shares (Direct)
Footnotes (5)
- 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 92,725 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 49,234 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.
Key Figures
Shares sold: 4,632 shares
Exercise shares: 11,830 shares
Sale prices: $58.37, $59.48, $60.00 per share
+4 more
7 metrics
Shares sold
4,632 shares
Open-market sales on May 29, 2026
Exercise shares
11,830 shares
RSUs converted to Class A on May 28, 2026
Sale prices
$58.37, $59.48, $60.00 per share
Weighted average prices for May 29, 2026 sales
Price range
$57.88–$59.75 per share
Range for multiple sale transactions
Shares held after
7,198 shares
Direct Class A holdings following transactions
RSU grant 2023
92,725 units
Granted November 28, 2023, vesting over time
RSU grant 2024
49,234 units
Granted November 28, 2024, vesting over time
Key Terms
Restricted Stock Unit, weighted average price, open-market sale, derivative security, +1 more
5 terms
Restricted Stock Unit financial
"Each Restricted Stock Unit represents a contingent right to receive one share of the Company's Class A Common Stock."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
contingent right financial
"Each Restricted Stock Unit represents a contingent right to receive one share"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Bandwidth (BAND) CEO David Morken report?
David Morken reported exercising 11,830 Restricted Stock Units into Class A Common Stock and selling 4,632 shares in open-market transactions. These trades occurred on May 28–29, 2026, and were disclosed as routine Form 4 transactions with detailed pricing ranges.
What Restricted Stock Unit grants does the Bandwidth (BAND) CEO have outstanding?
Footnotes show the CEO was granted 92,725 Restricted Stock Units on November 28, 2023 and 49,234 units on November 28, 2024. One third of each grant vested after one year, with the remainder vesting in eight equal quarterly installments beginning in 2025 and 2026.
Were the Bandwidth (BAND) CEO’s recent stock sales open-market transactions?
Yes. The Form 4 describes the CEO’s 4,632-share dispositions as open-market sales. Footnotes explain the reported prices are weighted averages for multiple trades executed within specified price ranges between $57.88 and $59.75 per share.
AI-generated analysis. How Rhea-AI works. Not financial advice.
