Form 4: Butterfly Network CEO Joseph DeVivo Sells Shares to Cover Tax Obligations

Butterfly Network's CEO, Joseph DeVivo, sold 320,215 shares of Class A Common Stock on April 25, 2025, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On April 25, 2025, Joseph DeVivo, the President and CEO of Butterfly Network, Inc., sold 320,215 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $2.438 per share, with individual sales prices ranging from $2.38 to $2.47.
• The transaction was conducted to cover tax withholding obligations associated with the vesting of restricted stock units, according to the 'sell-to-cover' policy adopted by the Issuer.
• Following the transaction, DeVivo still beneficially owns 7,249,789 shares of Butterfly Network, Inc.
• DeVivo has granted a Limited Power of Attorney to Nick Caezza and Heather Getz of Butterfly Network, Inc., and Stacie Aarestad and Ryan Rourke Reed of Foley Hoag LLP to execute SEC forms on his behalf.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to stock sales for tax purposes. It doesn't inherently indicate positive or negative sentiment.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

Executive stock sales are a common occurrence, often related to compensation and tax planning. The 'sell-to-cover' policy is a standard practice to manage tax obligations associated with equity compensation.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely to be minimal given the relatively small number of shares sold compared to the total outstanding shares.

Key Dates

Keywords

Form 4, Beneficial Ownership, Joseph DeVivo, Butterfly Network, BFLY, SEC, Stock Sale, Tax Withholding, Restricted Stock Units, Power of Attorney