Form 4: Butterfly Network CEO Joseph DeVivo Reports Acquisition of Class A Common Stock

Joseph DeVivo, President & CEO of Butterfly Network, reports acquiring 2,895,221 shares of Class A Common Stock on March 6, 2024, resulting in a total beneficial ownership of 6,905,221 shares.

Summary

• On March 6, 2024, Joseph DeVivo, the President & CEO of Butterfly Network, acquired 2,895,221 shares of Class A Common Stock.
• The acquisition price was $0 per share.
• Following the transaction, DeVivo's total beneficial ownership of Class A Common Stock amounts to 6,905,221 shares.
• The acquired shares consist of restricted stock units (RSUs) that vest in installments subject to continued service.
• 1,930,147 RSUs vest in three equal annual installments following March 1, 2024.
• 965,074 RSUs vest in two equal annual installments following March 1, 2024.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard regulatory filing. The CEO increasing their stake is mildly positive, suggesting confidence, but it's not a strong indicator.

Positives

• The CEO's acquisition of a significant number of shares could be interpreted positively, signaling confidence in the company's future prospects.

Risks

• The vesting of the RSUs is contingent on the Reporting Person's continued service, which introduces a risk if the Reporting Person were to leave the company.

Future Outlook

The document does not contain explicit forward-looking statements beyond the vesting schedule of the RSUs.

Industry Context

This filing is a routine disclosure related to insider transactions, common in publicly traded companies. It provides transparency regarding the holdings of key executives.

Stakeholder Impact

• The increased stake of the CEO may positively influence shareholder confidence.

Key Dates