Form 4: Butterfly Network Director Larry Robbins Increases Stake in Company

Director Larry Robbins reports purchasing additional shares of Butterfly Network, Inc. common stock through various investment funds.

Summary

• On August 28 and 29, 2024, Larry Robbins, a director of Butterfly Network, Inc., acquired shares of Class A Common Stock through Glenview Capital Master Fund, Ltd., Glenview Offshore Opportunity Master Fund, Ltd., and Glenview Healthcare Master Fund, L.P.
• On August 28, 2024, 952,277 shares were purchased at a price of $0.9751 per share and 294,673 shares were purchased at a weighted average price of $0.9937 per share.
• On August 29, 2024, 429,919 shares were purchased at a weighted average price of $1.0746 per share.
• Following these transactions, Mr. Robbins indirectly beneficially owns 9,710,370 shares through the Glenview Investment Funds and Longview Investors LLC, and directly owns 285,071 shares, including 157,894 unvested restricted stock units (RSUs).

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The director's increased investment suggests confidence, but it's a single transaction and doesn't provide a comprehensive view of the company's overall health.

Positives

• The director's purchase of shares could be interpreted as a positive signal about the company's prospects.
• Increased ownership by a director aligns their interests with those of other shareholders.

Industry Context

Insider buying is often seen as a positive sign, suggesting that those with the most knowledge of the company's prospects are optimistic about its future. However, it's important to consider the overall context of the company's performance and industry trends.

Stakeholder Impact

• Shareholders may view the director's purchase as a positive signal.
• The increased stake aligns the director's interests more closely with those of shareholders.

Key Dates