Form 4: Bandwidth Inc. Controller Devin M. Krupka Reports Stock Sales to Cover Tax Obligations
SEC Form 4 Filing
Devin M. Krupka, Controller and PAO of Bandwidth Inc., reported the sale of Class A Common Stock to cover tax obligations related to vested Restricted Stock Units.
Summary
- Devin M. Krupka, Controller and Principal Accounting Officer (PAO) of Bandwidth Inc., filed a Form 4 detailing changes in beneficial ownership.
- On February 28, 2024, 1,370 Restricted Stock Units vested, leading to the sale of shares to cover taxes.
- Krupka sold 450 shares on February 29, 2024, at a weighted average price of $19.7542.
- An additional 2,500 shares were sold on March 1, 2024, at a weighted average price of $19.99.
- Following these transactions, Krupka directly owns 5,217 shares of Class A Common Stock.
- Krupka also directly owns 9,585 derivative securities in the form of Restricted Stock Units.
Sentiment
Score: 6
Explanation: The document reflects routine insider transactions for tax purposes, which is neither particularly positive nor negative. The transactions are pre-planned and do not necessarily indicate a change in the insider's confidence in the company.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company officers and directors.
Key Dates
| Date | Description |
|---|---|
| November 28, 2022 | Reporting Person was granted 16,432 Restricted Stock Units |
| May 5, 2023 | Reporting Person adopted a Rule 10b5-1 instruction letter related solely to tax obligations associated with awards received in connection with the Issuer's equity compensation programs. |
| November 28, 2023 | One-third of the 16,432 Restricted Stock Units vested. |
| February 28, 2024 | 1,370 Restricted Stock Units vested; remainder vest in eight pro-rata quarterly installments beginning on this date. |
| February 28, 2024 | Transaction date for acquisition of 1,370 shares through vesting of Restricted Stock Units. |
| February 29, 2024 | Transaction date for the sale of 450 shares of Class A Common Stock. |
| March 01, 2024 | Transaction date for the sale of 2,500 shares of Class A Common Stock. |
| March 01, 2024 | Date of Form 4 filing. |
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