Vanguard disaggregates holdings; Bandwidth Inc (NASDAQ: BAND) shows 0 for parent

Rhea-AI Filing Summary

Bandwidth Inc: The Vanguard Group filed an amendment to its Schedule 13G reporting that, after an internal realignment, it beneficially owns 0 shares of Bandwidth Inc common stock, representing 0% of the class. The filing states that certain Vanguard subsidiaries now report ownership separately following an internal realignment effective January 12, 2026.

The filing lists Vanguard's principal office in Malvern, PA, and is signed by Ashley Grim as Head of Global Fund Administration on 03/26/2026. The report describes this change as a disaggregation under SEC Release No. 34-39538 and affirms no other person holds more than 5% of the class in the reported accounts.

Insights

Regulatory Filings Analyst

Administrative ownership reallocation, not an economic sale.

The amendment documents an internal reorganization within The Vanguard Group that causes subsidiaries to report holdings separately under SEC Release No. 34-39538. The filing explicitly reports 0 shares beneficially owned by the parent entity and 0% ownership.

Timing and scope are anchored to the internal realignment effective January 12, 2026. Cash‑flow treatment and any subsidiary holdings are not detailed in the excerpt.

Institutional Ownership Analyst

Disaggregation may change public ownership table appearance without altering underlying investor exposure.

The amendment states that certain Vanguard subsidiaries will report separately and that the parent no longer claims beneficial ownership of securities held by those units. This changes reported beneficial ownership lines but does not itself indicate disposition of shares.

Subsequent filings by the listed subsidiaries will contain the actual share counts; the parent now shows 0 shares and 0% in this amendment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

Bandwidth Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

(CUSIP Number)

03/13/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. In accordance with SEC Release No. 34-39538 (January 12, 1998), certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment. Further in accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Bandwidth Inc
(b)	Address of issuer's principal executive offices: Venture Center III, 900 Main Campus Drive, Raleigh, NC, 27606
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd.,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.:
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	03/26/2026

FAQ

What does Vanguard's Schedule 13G/A say about BAND ownership?

It reports that The Vanguard Group beneficially owns 0 shares of Bandwidth Inc common stock, representing 0% of the class, after internal reallocation on January 12, 2026. The parent will no longer report holdings now reported by subsidiaries.

Why does Vanguard report 0 shares for BAND in this amendment?

Vanguard describes an internal realignment and disaggregation under SEC Release No. 34-39538. As a result, certain subsidiaries will report beneficial ownership separately, and the parent reports 0 shares and 0% ownership.

Does this filing mean Vanguard sold BAND shares?

No sale is stated. The amendment attributes the change to internal reorganization and separate reporting by subsidiaries; it does not disclose any sale proceeds or transfer to external parties in the provided excerpt.

Who signed the Schedule 13G/A amendment for BAND?

The filing is signed by Ashley Grim, Head of Global Fund Administration for The Vanguard Group, with a signature date of 03/26/2026, certifying the reported 0 shares and related statements.

Will Vanguard subsidiaries now show BAND holdings separately?

Yes. The amendment states subsidiaries or business divisions will report beneficial ownership separately following the January 12, 2026 realignment in reliance on SEC Release No. 34-39538; their filings should show the subsidiary-level counts.