RALEIGH — A board member of Bandwidth, a software communications company, sold nearly $1 million in company stock in the last week, according to a regulatory filing.

Bandwidth logo

Bandwidth

Brian D. Bailey sold 15,000 shares, profiting $931,955.

He sold 5,000 shares in three transactions on Friday at prices of $60.10, $61.45 and $62.36 and 10,000 shares on Monday in one transaction at a price of $63.05.

The Cary-based company is a communications technology services company that provides services and products such as dynamic location routing and voice API. The company went public in 2017.

Bailey joined Bandwidth’s board of directors in 2013 and is a cofounder and managing partner of Carmichael Partners, a private investment firm based in Charlotte.

Prior to forming Carmichael Partners, he worked in private equity at The Carlyle Group in Washington, Forstmann Little & Co. in New York and Carousel Capital in Charlotte, according to Bandwith’s website. He has previously served on the boards of a number of private, public and nonprofit organizations

Earlier this month, Bailey sold 10,000 shares of BandWidth on March 4 and March 5 between $55.58 and $58.57 per share for an estimated $573,000.

He currently holds 254,604 shares, valued at $16.6 million or $65.20 per share at market close on Tuesday.

This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism.

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