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

Bandwidth CFO sells 14,314 shares in plan trade

Bandwidth Inc. Chief Financial Officer Daryl E. Raiford reported a series of open-market sales of the company’s Class A Common Stock.

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Form Type
4

Rhea-AI Filing Summary

Bandwidth Inc. Chief Financial Officer Daryl E. Raiford reported a series of open-market sales of the company’s Class A Common Stock. Over June 1–2, 2026, he sold a total of 14,314 shares in 13 separate transactions at weighted-average prices generally in the mid‑$60s to low‑$70s per share. These trades were executed under a pre-established Rule 10b5-1 trading plan adopted on December 3, 2025, indicating they were pre-planned. Following the transactions, Raiford continues to hold 28,605 shares of Bandwidth stock directly.

Insider Raiford Daryl E
Role Chief Financial Officer
Sold 14,314 shs ($985K)
Type Security Shares Price Value
Sale Class A Common Stock 2,868 $68.2111 $196K
Sale Class A Common Stock 1,706 $69.2798 $118K
Sale Class A Common Stock 1,200 $70.3511 $84K
Sale Class A Common Stock 500 $71.162 $36K
Sale Class A Common Stock 100 $72.30 $7K
Sale Class A Common Stock 1,000 $63.504 $64K
Sale Class A Common Stock 1,000 $64.4995 $64K
Sale Class A Common Stock 400 $65.15 $26K
Sale Class A Common Stock 400 $67.3008 $27K
Sale Class A Common Stock 400 $68.0125 $27K
Sale Class A Common Stock 600 $69.3522 $42K
Sale Class A Common Stock 2,940 $70.891 $208K
Sale Class A Common Stock 1,200 $71.4417 $86K
Holdings After Transaction: Class A Common Stock — 28,605 shares (Direct)
Footnotes (13)
  1. F1. Reflects shares sold pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 3, 2025.
  2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.93 to $63.87. 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 $64.05 to $65.00. 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.
  4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.06 to $65.39. 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.
  5. F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.88 to $67.74. 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.
  6. F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.94 to $68.06. 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.
  7. F7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.07 to $69.64. 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.
  8. F8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.25 to $71.18. 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.
  9. F9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $71.31 to $71.73. 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.
  10. F10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.80 to $68.79. 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.
  11. F11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.80 to $69.75. 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.
  12. F12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.98 to $70.81. 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.
  13. F13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $71.13 to $71.19. 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 14,314 shares Net open-market sales on June 1–2, 2026
Shares held after transactions 28,605 shares Direct ownership following June 2026 sales
Sale price example $72.3000 per share Open-market sale of 100 shares on June 2, 2026
Sale price example $63.5040 per share Open-market sale of 1,000 shares on June 1, 2026
Number of sale transactions 13 transactions Non-derivative open-market sales reported in Form 4
Trading plan adoption date December 3, 2025 Date CFO adopted Rule 10b5-1 plan used for these sales
Rule 10b5-1 plan regulatory
"Reflects shares sold pursuant to a Rule 10b5-1 plan adopted by the Reporting Person on December 3, 2025."
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. These shares were sold in multiple transactions..."
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.
Class A Common Stock financial
"security_title: "Class A Common Stock""
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
open-market sale regulatory
"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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Bandwidth (BAND) CFO Daryl Raiford report in this Form 4?
Bandwidth CFO Daryl Raiford reported selling Class A Common Stock in multiple open‑market transactions. Across June 1–2, 2026, he disposed of 14,314 shares and, after completing these sales, he continued to hold 28,605 Bandwidth shares directly in his own name.

How many Bandwidth (BAND) shares did the CFO sell and over what dates?
The CFO sold 14,314 shares of Bandwidth Class A Common Stock over two trading days. The sales occurred on June 1 and June 2, 2026, and were broken into 13 separate open‑market transactions at various weighted‑average prices disclosed in the filing.

At what prices were the Bandwidth (BAND) CFO’s shares sold?
Each sale was reported at a weighted‑average price per share, with examples including $72.30, $71.1620, $70.3511 and other prices in the $60s–$70s. Footnotes explain that each figure reflects multiple trades within specific price ranges for that transaction.

Were Bandwidth (BAND) CFO Daryl Raiford’s stock sales pre-planned?
Yes. A footnote states the reported sales were made under a Rule 10b5‑1 trading plan adopted on December 3, 2025. Such plans allow insiders to schedule trades in advance, helping separate routine portfolio management from discretionary market‑timed selling.

How many Bandwidth (BAND) shares does the CFO still own after these sales?
After completing the reported open‑market sales, the CFO directly owns 28,605 shares of Bandwidth Class A Common Stock. This post‑transaction holding is disclosed in the Form 4 and reflects his remaining direct equity stake following the June 2026 trades.

What does a weighted-average price mean in this Bandwidth (BAND) Form 4?
The filing notes each reported price is a weighted‑average price across multiple trades in a given range. The CFO undertakes to provide detailed breakdowns of shares sold at each individual price within the disclosed ranges upon request to the company or regulators.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →
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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)
06/01/2026		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 Stock06/01/2026S(1)1,000D$63.504(2)41,919D
Class A Common Stock06/01/2026S(1)1,000D$64.4995(3)40,919D
Class A Common Stock06/01/2026S(1)400D$65.15(4)40,519D
Class A Common Stock06/01/2026S(1)400D$67.3008(5)40,119D
Class A Common Stock06/01/2026S(1)400D$68.0125(6)39,719D
Class A Common Stock06/01/2026S(1)600D$69.3522(7)39,119D
Class A Common Stock06/01/2026S(1)2,940D$70.891(8)36,179D
Class A Common Stock06/01/2026S(1)1,200D$71.4417(9)34,979D
Class A Common Stock06/02/2026S(1)2,868D$68.2111(10)32,111D
Class A Common Stock06/02/2026S(1)1,706D$69.2798(11)30,405D
Class A Common Stock06/02/2026S(1)1,200D$70.3511(12)29,205D
Class A Common Stock06/02/2026S(1)500D$71.162(13)28,705D
Class A Common Stock06/02/2026S(1)100D$72.328,605D
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.
2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.93 to $63.87. 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 $64.05 to $65.00. 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.
4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $65.06 to $65.39. 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.
5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.88 to $67.74. 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.
6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.94 to $68.06. 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.
7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.07 to $69.64. 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.
8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.25 to $71.18. 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.
9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $71.31 to $71.73. 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.
10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.80 to $68.79. 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.
11. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.80 to $69.75. 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.
12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.98 to $70.81. 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.
13. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $71.13 to $71.19. 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. Raiford06/03/2026
** 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

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