Form 4: Butterfly Network Executive Sells Shares to Cover Tax Obligations

Steve Cashman, Chief Business Officer of Butterfly Network, sold shares of Class A Common Stock to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On December 20, 2024, Steve Cashman, the Chief Business Officer of Butterfly Network, sold 164,079 shares of Class A Common Stock.
• The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units.
• The shares were sold at a weighted average price of $3.064, with individual prices ranging from $2.845 to $3.23 per share.
• Following the transaction, Cashman still beneficially owns 1,835,921 shares of Butterfly Network's Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to an insider stock sale to cover tax obligations. It doesn't inherently convey positive or negative sentiment about the company's performance.

Industry Context

Form 4 filings are a routine part of the US stock market, and are required by the SEC when company insiders trade their own company's stock. They provide transparency into the transactions of company executives and directors.

Stakeholder Impact

• The sale of shares by an executive could be perceived negatively by some shareholders, although it is a common practice to cover tax obligations.

Key Dates