Form 4: Bandwidth Inc. Controller Devin M. Krupka Reports Stock Transactions
SEC Form 4 Filing
Devin M. Krupka, Controller and PAO of Bandwidth Inc., reports the vesting and sale of restricted stock units to cover tax obligations.
Summary
- On February 28, 2025, Devin M. Krupka, Controller and PAO of Bandwidth Inc., executed several transactions involving Class A Common Stock and Restricted Stock Units (RSUs).
- Krupka acquired 1,369 and 2,775 shares of Class A Common Stock through the vesting of RSUs.
- Additionally, 7,401 Restricted Stock Units were granted and vested immediately.
- Krupka sold 3,770 shares of Class A Common Stock at a weighted average price of $15.6963 per share on March 3, 2025, to cover tax obligations related to the vesting of RSUs.
- These transactions were executed under a Rule 10b5-1 trading plan adopted on May 5, 2023.
- Following these transactions, Krupka directly owns 19,188 shares of Class A Common Stock and 19,427 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions by an insider under a pre-arranged plan.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor the actions of those with privileged information.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the sale of shares, but the pre-arranged nature of the sales mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 2022-11-28 | Reporting Person was granted 16,432 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, 2024. |
| 2023-05-05 | Date of adoption of Rule 10b5-1 trading plan. |
| 2023-11-28 | Reporting Person was granted 33,303 Restricted Stock Units, one third of which vested on the first anniversary of the date of grant and the remaining shares will vest in eight equal quarterly installments beginning on February 28, 2025. |
| 2024-02-28 | One third of 16,432 Restricted Stock Units vested on the first anniversary of the date of grant and the remaining shares vest in eight equal quarterly installments beginning on February 28, 2024. |
| 2025-02-28 | Transactions involving vesting of RSUs and grant of additional RSUs occurred. |
| 2025-03-03 | Sale of shares to cover tax obligations. |
| 2025-03-04 | Date of Form 4 filing. |
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