Form 4: Butterfly Network Deputy GC Sells Shares for Tax

Butterfly Network's Deputy General Counsel, Nicholas Caezza, sold 1,724 shares of Class A Common Stock to cover tax withholding obligations related to restricted stock unit vesting.

Summary

• Nicholas Caezza, Deputy General Counsel of Butterfly Network, Inc., sold 1,724 shares of Class A Common Stock on September 3, 2025.
• The shares were sold at a weighted average price of $1.521 per share, with prices ranging from $1.515 to $1.525.
• The sale was executed under a "sell-to-cover" policy to satisfy tax withholding obligations associated with the vesting of restricted stock units.
• This transaction was automatic and not at the discretion of Mr. Caezza.
• Following the transaction, Mr. Caezza beneficially owns 232,721 shares of Class A Common Stock directly.

Sentiment

Score: 5

Explanation: Neutral. The transaction is a routine, non-discretionary 'sell-to-cover' to satisfy tax obligations upon restricted stock unit vesting, which is a common practice and does not reflect a change in management's discretionary view of the company.

Positives

• The underlying event, the vesting of restricted stock units, indicates continued compensation and retention of a key executive.

Future Outlook

NA

Management Comments

• The Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person.
• The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units.
• Such sales were automatic and not at the discretion of the Reporting Person.

Industry Context

NA

Corporate Governance

Stakeholder Impact

• Shareholders: Minimal direct impact as it's a routine, non-discretionary sale for tax purposes, not indicative of a change in executive sentiment.
• Employees: Reinforces the company's equity compensation structure and tax compliance policies.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary "sell-to-cover" transaction by a corporate officer to satisfy tax obligations related to restricted stock unit vesting. Such transactions are common and do not typically signal a change in the executive's confidence in the company or its future prospects. Therefore, it provides no new fundamental information to warrant a change in investment stance, suggesting a "hold" recommendation based solely on this filing.

Keywords

Butterfly Network, BFLY, Nicholas Caezza, Form 4, Insider Transaction, Stock Sale, Sell-to-Cover, Restricted Stock Units, Tax Withholding, Corporate Officer