Form 4: Butterfly Network Director S. Louise Phanstiel Receives Annual RSU Grant

Butterfly Network, Inc. Director S. Louise Phanstiel was granted 80,434 restricted stock units as part of her annual nonemployee director compensation, vesting in 2026.

Summary

• S. Louise Phanstiel, a Director of Butterfly Network, Inc. (BFLY), acquired 80,434 shares of Class A Common Stock in the form of Restricted Stock Units (RSUs).
• The transaction occurred on June 13, 2025, and was reported on June 17, 2025.
• These RSUs were granted as part of the annual compensation for nonemployee directors, with a price of $0.00 per unit.
• 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 on Ms. Phanstiel's continued service on the Board of Directors.
• Following this transaction, Ms. Phanstiel beneficially owns 365,505 shares of Class A Common Stock directly.

Sentiment

Score: 7

Explanation: The filing reports a routine, expected compensation event for a director, which is generally positive as it aligns interests and indicates stable corporate governance. There are no negative implications or unexpected events reported.

Positives

• The grant of restricted stock units aligns the director's interests with long-term shareholder value, as vesting is contingent on continued service and future performance.
• This is a standard compensation practice for nonemployee directors, indicating normal corporate governance and a stable compensation policy.

Risks

• The vesting of the 80,434 restricted stock units is subject to S. Louise Phanstiel's continued service on the Board of Directors until the Issuer's 2026 Annual Stockholders Meeting.

Future Outlook

The restricted stock units granted to Director S. Louise Phanstiel are set to vest in full on the date of Butterfly Network's 2026 Annual Stockholders Meeting, contingent on her continued service on the Board of Directors.

Industry Context

This Form 4 filing reflects a routine compensation event for a nonemployee director, which is a common practice across publicly traded companies. It indicates standard corporate governance practices for director remuneration within the medical technology or healthcare innovation sector, where Butterfly Network operates, aiming to align director incentives with long-term company performance.

Comparison to Industry Standards

• The grant of restricted stock units as part of nonemployee director compensation is a standard practice across various industries, including medical technology. Companies like Intuitive Surgical (ISRG) or Medtronic (MDT) also commonly utilize equity grants to align director incentives with long-term shareholder value.
• The specific amount of the grant would typically be benchmarked against peer companies of similar market capitalization and industry, though this document does not provide comparative data for a direct assessment against specific comparable companies or projects.

Corporate Governance

Stakeholder Impact

• Shareholders: The grant aligns the director's interests with long-term shareholder value, as the value of the RSUs is directly tied to the company's stock performance and future success.
• Board of Directors: The compensation structure incentivizes continued service and commitment from nonemployee directors.

Next Steps

• Continued service of S. Louise Phanstiel on the Board of Directors until the 2026 Annual Stockholders Meeting for full vesting of the restricted stock units.
• Vesting of 80,434 restricted stock units on the date of the Issuer's 2026 Annual Stockholders Meeting.

Key Dates

Keywords

Butterfly Network, BFLY, SEC Form 4, Restricted Stock Units, RSUs, Director Compensation, Insider Transaction, Equity Grant