# EDGAR Filing Document

**Accession Number:** 0001575505
**File Stem:** 0001514416-23-000057
**Filing Date:** 2023-3
**Character Count:** 7227
**Document Hash:** de123192d2df581585ce63509e5d7a25
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001514416-23-000057.hdr.sgml**: 20230302

**ACCESSION NUMBER**: 0001514416-23-000057

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230228

**FILED AS OF DATE**: 20230302

**DATE AS OF CHANGE**: 20230302

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Bailey Brian D.
- **CENTRAL INDEX KEY:** 0001575505

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38285
- **FILM NUMBER:** 23699444

**MAIL ADDRESS:**
- **STREET 1:** C/O CARMICHAEL INVESTMENT PARTNERS LLC
- **STREET 2:** 4725 PIEDMONT ROW DRIVE, SUITE 210
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28210
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bandwidth Inc.
- **CENTRAL INDEX KEY:** 0001514416
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 900 MAIN CAMPUS DRIVE
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27606
- **BUSINESS PHONE:** 888-969-5009

**MAIL ADDRESS:**
- **STREET 1:** 900 MAIN CAMPUS DRIVE
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Bandwidth.com, Inc.
- **DATE OF NAME CHANGE:** 20110303

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Bailey Brian D.<br><sub>(Last) (First) (Middle)</sub><br>C/O CARMICHAEL INVESTMENT PARTNERS LLC<br>4725 PIEDMONT ROW DRIVE, SUITE 210<br><sub>(Street)</sub><br>CHARLOTTE, NC 28210<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-28 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Bandwidth Inc. [ BAND ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2023-02-28 |  | M |  | 2153 | A | $0 | 29439 | I | See footnotes<sup>(1)(2)(3)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Restricted Stock Units | <sup>(4)</sup> | 2023-02-28 |  | M |  |  | 2153 | <sup>(5)</sup> | <sup>(5)</sup> | Class A Common Stock | 2153.0 | $0 | 6459 | D |  |

---

### Footnotes:

(1) Following the transactions reported herein, consists of (i) 1,517 shares of Class A Common Stock held by Carmichael Investment Partners, LLC ("CIP"), (ii) 908 shares of Class A Common Stock held by Carmichael Investment Partners II, LLC ("CIP II"), (iii) 608 shares of Class A Common Stock held by Carmichael Investment Partners III, LLC ("CIP III" and, together with CIP and CIP II, the "Carmichael Entities") and (iv) 26,406 shares of Class A Common Stock held directly by Brian D. Bailey.

(2) Carmichael Bandwidth LLC is the managing member of each of the Carmichael Entities. Brian D. Bailey and Kevin J. Martin are the managing partners of Carmichael Bandwidth LLC and Carmichael Partners LLC and share voting and dispositive power with respect to the shares held by the Carmichael Entities and Carmichael Partners LLC. The Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.

(3) Pursuant to an agreement between Mr. Bailey and Carmichael Partners LLC, Carmichael Partners LLC is entitled to all economic benefit with respect to 7,234 shares held by Mr. Bailey.

(4) Each Restricted Stock Unit represents a contingent right to receive one share of the Company's Class A Common Stock.

(5) On November 28, 2022, the Reporting Person was granted 8,612 Restricted Stock Units, which vest in four equal quarterly installments beginning on February 28, 2023.

**Signature:** /s/ Leah Webb, Attorney-in-Fact for Brian D. Bailey  
**Date:** 2023-03-02

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**