Form 4: Butterfly Network's Chief Technology Officer Sells Shares to Cover Tax Obligations

Andrei G. Stoica, Chief Technology Officer of Butterfly Network, sold 3,296 shares of Class A Common Stock to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On September 24, 2024, Andrei G. Stoica, the Chief Technology Officer of Butterfly Network, sold 3,296 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 $1.74, with individual sales prices ranging from $1.71 to $1.78 per share.
• Following the transaction, Stoica directly owns 1,467,230 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to an insider stock sale for tax purposes. It doesn't inherently convey positive or negative sentiment about the company's performance or future prospects.

Industry Context

Form 4 filings are a routine part of insider trading activity and are required by the SEC to provide transparency into the transactions of company insiders. This sale appears to be related to tax obligations and may not necessarily reflect a change in the executive's long-term outlook for the company.

Stakeholder Impact

• The sale of shares 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