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

Andrei Stoica, Chief Technology Officer of Butterfly Network, sold 1,680 shares of Class A Common Stock on December 31, 2024, to cover tax withholding obligations.

Summary

• On December 31, 2024, Andrei Stoica, the Chief Technology Officer of Butterfly Network, sold 1,680 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $3.295 per share, with prices ranging from $3.26 to $3.35.
• This transaction was conducted to cover tax withholding obligations related to the vesting of restricted stock units, in accordance with the company's 'sell-to-cover' policy.
• Following the transaction, Stoica directly owns 1,449,237 shares of Butterfly Network's Class A Common Stock.
• A power of attorney was executed on January 2, 2025, granting certain individuals the authority to act on Stoica's behalf for SEC filings.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction to cover tax obligations. It doesn't inherently convey positive or negative sentiment.

Industry Context

Sales of shares by company officers are a normal part of corporate governance. It is important to note that this sale was to cover tax obligations and does not necessarily reflect a change in the officer's confidence in the company.

Stakeholder Impact

• The sale of shares by a company officer could have a minor impact on shareholder sentiment, but is unlikely to have a significant impact as it was to cover tax obligations.

Key Dates