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

Andrei G. Stoica, Chief Technology Officer of Butterfly Network, sold 1,778 shares of Class A Common Stock to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On April 2, 2024, Andrei G. Stoica, the Chief Technology Officer of Butterfly Network, sold 1,778 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 prices ranging from $1.00 to $1.02 per share, with a weighted average sales price of $1.002.
• Following the transaction, Stoica directly owns 1,497,558 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 for tax purposes. 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, providing transparency into the transactions of company insiders. This filing indicates that the CTO sold shares to cover tax obligations, which is a common practice.

Stakeholder Impact

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

Key Dates