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

Andrei G. Stoica, Chief Technology Officer of Butterfly Network, sold 1,703 shares of Class A Common Stock to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On July 2, 2024, Andrei G. Stoica, the Chief Technology Officer of Butterfly Network, sold 1,703 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $0.873 per share.
• The purpose of the sale was to cover tax withholding obligations associated with the vesting of restricted stock units, according to the company's 'sell-to-cover' policy.
• Following the transaction, Stoica still beneficially owns 1,480,738 shares of Butterfly Network.
• The sales occurred at prices ranging from $0.8651 to $0.8783 per share.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction (sale of shares for tax obligations) and doesn't indicate any significant positive or negative sentiment.

Industry Context

Sales of shares to cover tax obligations are a common practice among company executives when restricted stock units vest. This is a normal part of executive compensation and tax planning.

Stakeholder Impact

• The sale of shares by a company executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates