Form 4: Bandwidth Inc. COO Anthony Bartolo Reports Changes in Beneficial Ownership Following Departure
SEC Form 4 Filing
Anthony Bartolo, Chief Operating Officer of Bandwidth Inc., reports changes in beneficial ownership of Class A Common Stock and Restricted Stock Units following his last day of employment on July 1, 2024.
Summary
- Anthony Bartolo, the Chief Operating Officer of Bandwidth Inc., filed a Form 4 on July 3, 2024, reporting changes in his beneficial ownership of the company's securities.
- The reported transactions occurred on July 1, 2024, coinciding with Bartolo's last day of employment with Bandwidth Inc.
- Bartolo's transactions involved the vesting and subsequent forfeiture of Restricted Stock Units (RSUs).
- Specifically, 26,096 RSUs from a March 21, 2022 grant, 9,043 RSUs from a November 28, 2022 grant, and 27,491 RSUs from a November 28, 2023 grant vested on July 1, 2024.
- Following his departure, the remaining unvested RSUs from these grants, totaling 26,096, 9,043, and 38,487 respectively, were forfeited.
- As a result of these transactions, Bartolo's direct ownership of Class A Common Stock increased due to the vesting of RSUs, followed by a decrease due to the forfeiture of unvested RSUs.
- After the reported transactions, Bartolo beneficially owns 141,195 shares of Class A Common Stock and 38,487 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to an executive's departure. It doesn't contain inherently positive or negative information from an investment perspective, hence a neutral sentiment score.
Industry Context
This filing is a routine disclosure related to executive compensation and departure, and doesn't necessarily reflect broader industry trends.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Chief Operating Officer | Anthony Bartolo | July 1, 2024 | Last day of employment |
Stakeholder Impact
- Shareholders may be interested in executive compensation and changes in leadership.
- Employees may be affected by the departure of a key executive.
Key Dates
| Date | Description |
|---|---|
| March 21, 2022 | Reporting Person was granted 104,384 RSUs, one fourth of which vested on the first and second anniversary of the date of grant and 26,096 of the remaining RSUs vested on July 1, 2024. |
| November 28, 2022 | Reporting Person was granted 36,171 RSUs, one third of which vested on the first anniversary of the date of grant, 3,014 RSUs vested on each of February 28, 2024 and May 28, 2024, and 9,043 of the remaining RSUs vested on July 1, 2024. |
| November 28, 2023 | Reporting Person was granted 65,978 RSUs, 27,491 RSUs vested on July 1, 2024. |
| July 1, 2024 | Date of Earliest Transaction, Bartolo's last day of employment, vesting and forfeiture of RSUs. |
| July 3, 2024 | Date of Form 4 filing. |
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