Form 4: Bandwidth Inc. COO Anthony Bartolo Reports Stock Transactions
SEC Form 4 Filing
Bandwidth Inc.'s Chief Operating Officer, Anthony Bartolo, reports the vesting of restricted stock units and subsequent sale of shares to cover taxes.
Summary
- Anthony Bartolo, the Chief Operating Officer of Bandwidth Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On March 21, 2024, 26,096 Restricted Stock Units (RSUs) vested, converting into Class A Common Stock.
- To cover taxes associated with the vesting, Bartolo sold 7,798 shares of Class A Common Stock on March 22, 2024, at a weighted average price of $18.7527 per share.
- Following these transactions, Bartolo directly owns 76,469 shares of Class A Common Stock and 52,192 Restricted Stock Units.
- The sale was executed pursuant to a Rule 10b5-1 plan adopted on March 3, 2023.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock transactions by an executive. It doesn't convey any particularly positive or negative sentiment about the company's performance or prospects.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership. It doesn't necessarily reflect a change in the company's outlook or performance.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely to be minimal given the relatively small volume of shares sold.
Key Dates
| Date | Description |
|---|---|
| 03/03/2023 | Rule 10b5-1 plan adopted by the Reporting Person |
| 03/21/2022 | Reporting Person was granted 104,384 Restricted Stock Units, which vest in four equal annual installments beginning on March 21, 2023. |
| 03/21/2023 | First vesting date of Restricted Stock Units granted on March 21, 2022. |
| 03/21/2024 | 26,096 Restricted Stock Units vested. |
| 03/22/2024 | 7,798 shares of Class A Common Stock sold. |
| 03/25/2024 | Date of Form 4 filing. |
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