Form 4: Bandwidth Inc. Director Douglas A. Suriano Reports Stock Transactions
SEC Form 4 Filing
Director Douglas A. Suriano of Bandwidth Inc. reports the vesting of restricted stock units and subsequent ownership of Class A Common Stock.
Summary
- On February 28, 2024, Douglas A. Suriano, a director of Bandwidth Inc., had 3,927 Restricted Stock Units vest, which converted into Class A Common Stock.
- This transaction resulted in Suriano directly owning 19,530 shares of Class A Common Stock.
- Suriano also directly owns 11,782 Restricted Stock Units following the reported transaction.
- The Restricted Stock Units were granted on November 28, 2023, and vest in four equal quarterly installments starting February 28, 2024.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions by a company director, with no inherent positive or negative implications.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company directors regarding their holdings in the company's stock.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects insider activity, which is generally monitored for alignment of interests.
Key Dates
| Date | Description |
|---|---|
| 11/28/2023 | Reporting Person was granted 15,709 Restricted Stock Units |
| 02/28/2024 | Date of transaction: 3,927 Restricted Stock Units vested and converted to Class A Common Stock |
| 03/01/2024 | Date of Form 4 signature |
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