Bandwidth appoints Daryl Raiford as CFO, succeeding Jeff Hoffman in August 2021

Bandwidth Inc.

Raiford to join July 12 as EVP, become CFO after Q2 2021 filing; base salary $425,000.
Target annual cash incentive 75% of salary; RSU award of $2.5M vesting over 4 years.
Severance: 100% base + bonus (150% within 12 months post-change-of-control), equity acceleration.
Hoffman remains through Aug. 31 to assist transition; served as CFO for 10 years.
Raiford formerly CFO at Ribbon Communications (NASDAQ: RBBN), previously at Freescale, Travelport, HP.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Daryl Raiford

Chief Financial Officer

BAND · Bandwidth Inc.

Filed: July 8, 2021, 7:59 PM ET

On July 6, 2021, Bandwidth Inc., a Delaware corporation (“Bandwidth” or the “Company”), entered into an Employment Agreement (the “Employment Agreement”) with Daryl Raiford, who is expected to succeed Jeff Hoffman as the Company’s Chief Financial Officer in August 2021, following a transition period during which he will work alongside Mr. Hoffman as Bandwidth’s EVP, Finance.

Departed

Jeff Hoffman

Chief Financial Officer

BAND · Bandwidth Inc.

Effective: 2021-08-31
Successor: Daryl Raiford
Filed: July 8, 2021, 7:59 PM ET

As previously disclosed in the Company’s Current Report on Form 8-K filed with the SEC by the Company on May 5, 2021, Mr. Hoffman previously submitted his resignation but will remain with the Company through August 31, 2021 to assist the Company with the transition.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Daryl Raiford was appointed as Chief Financial Officer at Bandwidth Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On July 6, 2021, Bandwidth Inc., a Delaware corporation (“Bandwidth” or the “Company”), entered into an Employment Agreement (the “Employment Agreement”) with Daryl Raiford, who is expected to succeed Jeff Hoffman as the Company’s Chief Financial Officer in August 2021, following a transition period during which he will work alongside Mr. Hoffman as Bandwidth’s EVP, Finance.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jeff Hoffman resigned as Chief Financial Officer at Bandwidth Inc..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

As previously disclosed in the Company’s Current Report on Form 8-K filed with the SEC by the Company on May 5, 2021, Mr. Hoffman previously submitted his resignation but will remain with the Company through August 31, 2021 to assist the Company with the transition.

View on SEC.gov

Bandwidth Inc. filing history →

Source: SEC EDGAR

accession 0001193125-21-210812

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