RALEIGH — A board member of Bandwidth Inc., a communications technology services company, continues to sell stock.
Brian D. Bailey, who joined the Bandwidth board of directors in 2013, has sold 210,364 shares of company stock through almost 80 individual transactions beginning in February.
The stock was held through Carmichael Investment Partners LLC, a Charlotte-based venture capital group, of which Bailey is the co-founder and a managing partner.
Beginning on Feb. 2, Bailey held 305,422 shares in Bandwidth. As of April 2, he now has 95,058 shares worth more than $6.2 million.
According to a Form 4 filed Wednesday with the Securities and Exchange Commission, between April 1 and April 2, Bailey sold another 20,000 shares for approximately $1.32 million.
The sale was conducted across seven transactions: three transactions on April 1 sold the first 10,000 shares at $65.26, $66.30, and $67.18 and four transactions on April 2 sold the second 10,000 shares at $65.03, $66.39, $67.55, and $68.14.
Raleigh-based Bandwidth provides voice and messaging services to brands such as Google, Skype, and GroupMe through their application program interface.
Bandwidth’s stock opened at $68.79 this morning and declined over 4 percent to $65.82 near market close.
This is a story from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
