Form 4: Butterfly Network Director Elazer Edelman Granted Over 80,000 RSUs

Butterfly Network, Inc. Director Elazer R. Edelman was granted 80,434 restricted stock units (RSUs) as part of his annual nonemployee director compensation, vesting in full at the 2026 Annual Stockholders Meeting.

Summary

• Elazer R. Edelman, a Director of Butterfly Network, Inc. (BFLY), was granted 80,434 shares of Class A Common Stock in the form of Restricted Stock Units (RSUs).
• The transaction date for this grant was June 13, 2025, with a price of $0.00 per share, indicating a compensation grant rather than a purchase.
• These RSUs were issued as part of the annual grant to nonemployee directors under the Issuer's Amended and Restated Nonemployee Director Compensation Policy.
• Each RSU represents the right to receive one share of Class A common stock upon vesting.
• The RSUs are scheduled to vest in full on the date of Butterfly Network's 2026 Annual Stockholders Meeting, contingent upon Mr. Edelman's continued service on the Board of Directors until that date.
• Following this transaction, Mr. Edelman's direct beneficial ownership stands at 367,446 shares.

Sentiment

Score: 7

Explanation: The document reports a routine equity grant to a director, which is a positive sign of aligning interests and retaining talent, but it does not contain information that would significantly alter the company's financial outlook or operations. It's a neutral-to-slightly positive administrative filing.

Positives

• The grant of RSUs to Director Elazer R. Edelman aligns his interests with long-term shareholder value, as the vesting is contingent on his continued service and the company's future performance.
• This compensation method is a standard practice for nonemployee directors, reflecting a commitment to retaining experienced board members.

Negatives

• No specific negative aspects are identified in this routine compensation filing.

Risks

• The vesting of the 80,434 Restricted Stock Units (RSUs) is subject to the Reporting Person's continued service on the Board of Directors until the 2026 Annual Stockholders Meeting. If service ceases, the RSUs may not vest.

Future Outlook

The document indicates a future vesting event for the granted RSUs, which is expected to occur on the date of the Issuer's 2026 Annual Stockholders Meeting, provided the director continues his service.

Industry Context

This Form 4 filing is a routine disclosure of director compensation in the form of equity, common across publicly traded companies, particularly in the medical technology or healthcare innovation sector where Butterfly Network operates. Such grants are standard practice to align director incentives with long-term company performance and shareholder interests.

Corporate Governance

Stakeholder Impact

• Shareholders: The grant of RSUs to a director aligns their interests with shareholders by tying compensation to future company performance and continued service, potentially encouraging long-term strategic focus.
• Employees: No direct impact on employees is indicated by this director compensation filing.

Next Steps

• The granted RSUs are expected to vest in full on the date of Butterfly Network's 2026 Annual Stockholders Meeting.
• Continued service of Elazer R. Edelman on the Board of Directors is required for the RSUs to vest.

Key Dates

Recommendation

Keywords

Butterfly Network, BFLY, SEC Form 4, Restricted Stock Units, RSU, Director Compensation, Insider Trading, Equity Grant, Corporate Governance, Elazer R. Edelman