secwatch.observer — SEC 8-K summary
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Issuer:     Bandwidth Inc. (BAND)
CIK:        0001514416
Form:       8-K
Filed at:   2024-07-05T23:59:59+00:00
Accession:  0001514416-24-000127
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Bandwidth COO resigns effective July 1; Devesh Agarwal named Interim COO
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- COO Anthony Bartolo resigned July 1; received accelerated vesting of 62,630 RSUs, forfeited 73,626 RSUs.
- Bartolo also received a conditional award valued at $1,107,760 in RSUs (released March 14, 2025) and a 12-month healthcare stipend of $2,540/month (grossed up).
- Devesh Agarwal, Chief Software Strategy Officer, appointed Interim COO effective July 1, 2024.
- Agarwal's employment agreement: $350,000 base salary, 50% target bonus, severance of 12 months base plus target bonus if terminated without cause.
- Agarwal is subject to 12-month non-compete and non-solicitation restrictions post-termination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1514416/000151441624000127/0001514416-24-000127-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1514416/000151441624000127/band-20240701.htm
  HTML page:      https://secwatch.observer/filing/0001514416-24-000127

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer