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

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

Summary

• On December 24, 2024, Andrei Stoica, the Chief Technology Officer of Butterfly Network, sold 3,340 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 $2.997 per share, with individual prices ranging from $2.96 to $3.065.
• Following the transaction, Stoica directly owns 1,450,917 shares of Butterfly Network's Class A Common Stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares for tax obligations) by a company insider, which is neither particularly positive nor negative.

Industry Context

Sales of shares by company insiders are a common occurrence, often related to compensation and tax obligations. These transactions are closely monitored by investors for insights into management's perspective on the company's value and future prospects.

Stakeholder Impact

• The sale of shares by a company insider could have a minor impact on shareholder sentiment.

Key Dates