Form 4: Butterfly Network's CTO, Andrei G. Stoica, Sells Shares to Cover Tax Obligations

Andrei G. Stoica, Chief Technology Officer of Butterfly Network, sold 10,212 shares of Class A Common Stock on September 5, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On September 5, 2024, Andrei G. Stoica, the Chief Technology Officer of Butterfly Network, sold 10,212 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 $1.696, with individual sales prices ranging from $1.57 to $1.77 per share.
• Following the transaction, Stoica directly owns 1,470,526 shares of Class A Common Stock.
• The sale was automatic and not at the discretion of the Reporting Person, according to the issuer's 'sell-to-cover' policy.

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 insiders are common and often related to compensation and tax obligations. It's important to consider the context of these sales, such as the 'sell-to-cover' policy, to understand the motivations behind them.

Stakeholder Impact

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

Key Dates