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

Andrei G. Stoica, Chief Technology Officer of Butterfly Network, sold 1,696 shares of Class A Common Stock on October 1, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On October 1, 2024, Andrei G. Stoica, the Chief Technology Officer of Butterfly Network, sold 1,696 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 $1.789 per share, with individual sales prices ranging from $1.77 to $1.80.
• Following the transaction, Stoica directly owns 1,465,534 shares of Butterfly Network's Class A Common Stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares to cover taxes) and doesn't indicate any significant positive or negative sentiment.

Industry Context

Sales of stock to cover tax obligations are a routine part of executive compensation, especially when stock or options form a significant part of their pay. It is a common practice and doesn't necessarily reflect a negative outlook on the company.

Stakeholder Impact

• The sale of shares by an executive could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect on shareholders.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates