Form 4: Butterfly Network Director Dawn Carfora Receives Stock Grant

Director Dawn Carfora receives 157,894 restricted stock units (RSUs) from Butterfly Network as part of the annual nonemployee director compensation.

Summary

• Dawn Carfora, a director at Butterfly Network, Inc. (BFLY), received 157,894 shares of Class A Common Stock on June 10, 2024.
• These shares were granted as restricted stock units (RSUs) as part of the annual grant to nonemployee directors.
• The RSUs vest fully on the date of the Issuer's 2025 Annual Stockholders Meeting, contingent upon continued service on the Board of Directors.
• Following the transaction, Carfora directly owns 297,080 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, indicating stability and alignment of interests. It's a neutral event with a slightly positive implication for corporate governance.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders, incentivizing continued service and contribution to the company's success.

Future Outlook

The RSUs will vest on the date of the Issuer's 2025 Annual Stockholders Meeting, subject to the Reporting Person's continued service on the Board of Directors on such date.

Industry Context

Director compensation through stock grants is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Stock grants to non-employee directors are a standard practice across the industry.
• The size of the grant is likely benchmarked against peer companies of similar size and stage of development.
• Companies like Teladoc Health and Livongo Health, prior to its acquisition, also utilized similar compensation strategies for their board members.

Stakeholder Impact

• The stock grant aligns the director's interests with those of the shareholders, potentially leading to better decision-making and increased shareholder value.

Key Dates