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

Andrei G. 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 March 11, 2024, Andrei G. Stoica, the Chief Technology Officer of Butterfly Network, sold 76,498 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 $1.14, with individual sales prices ranging from $1.10 to $1.21 per share.
• Following the transaction, Stoica directly owns 889,675 shares of Butterfly Network's Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing relates to a routine stock sale for tax purposes and doesn't indicate a significant change in the executive's position or the company's outlook.

Industry Context

Form 4 filings are a routine part of insider trading activity and are required by the SEC to ensure transparency in the market. 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.

Key Dates