Form 4: Butterfly Network Director S. Louise Phanstiel Sells Shares for Tax Planning

Director S. Louise Phanstiel sold 60,049 shares of Butterfly Network (BFLY) Class A Common Stock at an average price of $1.9616 for tax planning purposes.

Summary

• On September 13, 2024, S. Louise Phanstiel, a director of Butterfly Network, Inc. (BFLY), sold 60,049 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $1.9616 per share, with individual prices ranging from $1.935 to $1.975.
• The transaction was conducted for tax planning purposes.
• Following the sale, Ms. Phanstiel directly owns 285,071 shares of Class A Common Stock.
• Ms. Phanstiel also has indirect beneficial ownership of securities held by H.G. Phanstiel LP, but disclaims beneficial ownership except to the extent of her pecuniary interest.
• The filing indicates that the sales were made under transaction code 'S'.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a stock sale by a company director. It doesn't inherently convey positive or negative sentiment, but rather reports a factual transaction. The tax planning reason is neutral.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders (officers, directors, and beneficial owners) of a publicly traded company buy or sell the company's securities. These filings provide transparency to the market regarding insider transactions.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, although the stated reason of tax planning may mitigate concerns.

Key Dates