Form 4: Butterfly Network CFO Sells Shares for Tax Obligations

Butterfly Network's EVP and CFO, John N. Doherty, sold 60,182 shares of Class A Common Stock on January 7, 2026, to cover tax withholding obligations.

Summary

• John N. Doherty, Executive Vice President and Chief Financial Officer of Butterfly Network, Inc. (BFLY), reported a transaction.
• On January 7, 2026, Doherty disposed of 60,182 shares of Class A Common Stock.
• The shares were sold at a weighted average price of $3.98 per share, with prices ranging from $3.915 to $4.055.
• This sale was executed as a "sell-to-cover" transaction to satisfy tax withholding obligations related to the vesting of restricted stock units.
• The sale was automatic and not at the discretion of the reporting person.
• Following this transaction, Doherty beneficially owns 1,234,688 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a non-discretionary 'sell-to-cover' for tax withholding obligations, which is a common and expected event for executives receiving equity compensation. It does not indicate a change in management's outlook on the company's future.

Industry Context

This is a routine insider transaction for tax purposes and does not reflect broader industry trends or competitive positioning. Such 'sell-to-cover' transactions are common for executives receiving equity compensation.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes and not a signal of management's confidence or lack thereof in the company's stock performance.

Key Dates

Recommendation

The transaction reported is a 'sell-to-cover' to satisfy tax withholding obligations upon the vesting of restricted stock units. This is a non-discretionary sale and does not reflect a voluntary decision by the CFO to reduce their stake based on a change in company outlook or personal investment strategy. Therefore, this specific filing does not provide new information that would warrant a change in investment recommendation. A 'hold' recommendation is maintained, pending further fundamental analysis of the company's operational and financial performance.

Keywords

BFLY, Butterfly Network, Form 4, Insider Transaction, Stock Sale, CFO, John N. Doherty, Tax Withholding, Restricted Stock Units