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  4. [Form 4] Bandwidth Inc. Insider Trading Activity

Bandwidth CFO sells 7,227 shares at ~$48–50

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Bandwidth Inc. (BAND) reported that its Chief Financial Officer, Daryl E. Raiford, sold a total of 7,227 shares of Class A common stock on September 2, 2026, in open-market transactions pursuant to a Rule 10b5-1 trading plan adopted on December 3, 2025 and modified on June 3, 2026.

The sales occurred in three tranches: 2,536 shares at a weighted average price of $47.74, 1,400 shares at a weighted average price of $48.99, and 3,291 shares at a weighted average price of $49.97, each executed through multiple trades within stated price ranges.

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Insider Raiford Daryl E
Role Chief Financial Officer
Sold 7,227 shs ($354K)
Type Security Shares Price Value
Sale Class A Common Stock F1, F2 2,536 $47.7354 $121K
Sale Class A Common Stock F1, F3 1,400 $48.987 $69K
Sale Class A Common Stock F1, F4 3,291 $49.9675 $164K
Holdings After Transaction: Class A Common Stock — 28,605 shares (Direct)
Footnotes (4)
  1. F1. Reflects shares sold pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 3, 2025, as modified on June 3, 2026.
  2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.40 to $48.23. 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.
  3. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.60 to $49.35. 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.
  4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $49.65 to $50.00. 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.
Shares sold (first tranche) 2,536 shares Class A common stock sold on September 2, 2026 at a weighted average price within a range of $47.40 to $48.23
Weighted average price (first tranche) $47.74 per share 2,536 shares of Class A common stock sold on September 2, 2026
Shares sold (second tranche) 1,400 shares Class A common stock sold on September 2, 2026 at a weighted average price within a range of $48.60 to $49.35
Weighted average price (second tranche) $48.99 per share 1,400 shares of Class A common stock sold on September 2, 2026
Shares sold (third tranche) 3,291 shares Class A common stock sold on September 2, 2026 at a weighted average price within a range of $49.65 to $50.00
Weighted average price (third tranche) $49.97 per share 3,291 shares of Class A common stock sold on September 2, 2026
Total shares sold 7,227 shares Aggregate of three sale transactions of Class A common stock on September 2, 2026
Rule 10b5-1 plan adoption date December 3, 2025 Date the trading plan governing these sales was adopted, later modified on June 3, 2026
Rule 10b5-1 plan regulatory
"Reflects shares sold pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 3, 2025, as modified on June 3, 2026."
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
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.
multiple transactions financial
"These shares were sold in multiple transactions at prices ranging from $47.40 to $48.23."

FAQ

What insider transaction did Bandwidth Inc. (BAND) disclose in this Form 4?
Bandwidth Inc. disclosed that its Chief Financial Officer, Daryl E. Raiford, sold 7,227 shares of Class A common stock in open-market transactions on September 2, 2026, executed in three separate tranches at different weighted average prices.

At what prices did the Bandwidth (BAND) CFO sell shares on September 2, 2026?
The CFO sold 2,536 shares at a weighted average of $47.74, 1,400 shares at a weighted average of $48.99, and 3,291 shares at a weighted average of $49.97, each representing multiple trades within disclosed price ranges.

How many Bandwidth (BAND) shares did the CFO sell in total?
Daryl E. Raiford sold a total of 7,227 shares of Bandwidth Inc. Class A common stock, consisting of 2,536 shares, 1,400 shares, and 3,291 shares across three reported open-market sale transactions on September 2, 2026.

Were the Bandwidth (BAND) CFO’s share sales made under a Rule 10b5-1 plan?
Yes. The filing states that the reported sales were made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 3, 2025 and modified on June 3, 2026.

What price ranges applied to the Bandwidth (BAND) CFO’s September 2, 2026 share sales?
For 2,536 shares, trades ranged from $47.40 to $48.23; for 1,400 shares, from $48.60 to $49.35; and for 3,291 shares, from $49.65 to $50.00, with each line reported as a weighted average price within its range.

Does the Form 4 state the CFO’s Bandwidth (BAND) holdings after these sales?
No. The reported transactions do not include a stated number of shares held directly after the sales, so only the 7,227 shares sold and their pricing details are disclosed in this filing.

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SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Raiford Daryl E
(Last)(First)(Middle)
C/O BANDWIDTH INC.
2230 BANDMATE WAY
(Street)
RALEIGH NORTH CAROLINA 27607
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Bandwidth Inc. [ BAND ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Financial Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
09/02/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Class A Common Stock09/02/2026S(1)2,536D$47.7354(2)33,296D
Class A Common Stock09/02/2026S(1)1,400D$48.987(3)31,896D
Class A Common Stock09/02/2026S(1)3,291D$49.9675(4)28,605D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Reflects shares sold pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 3, 2025, as modified on June 3, 2026.
2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.40 to $48.23. 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.
3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $48.60 to $49.35. 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.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $49.65 to $50.00. 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.
Remarks:
/s/ Leah Webb, Attorney-in-Fact for Daryl E. Raiford09/03/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR