Butterfly Network (BFLY) director Larry Robbins reports new share purchases

Rhea-AI Filing Summary

Butterfly Network, Inc. director and 10% owner Larry Robbins reported a series of open-market purchases of Class A common stock. On December 3, 2025, entities he oversees bought 821,648 shares at a weighted average price of $2.9619 per share. On December 4, 2025, they bought 536,893 shares at a weighted average of $2.9947, and on December 5, 2025, they bought 200,000 shares at a weighted average of $3.0565.

The shares were acquired by Glenview investment funds, for which Robbins is investment manager, and he shares voting and dispositive power over these holdings. He also has interests through Longview Investors LLC and holds additional securities, including restricted stock units that vest at the company’s 2026 annual stockholders meeting, conditioned on his continued board service.

Insights

Equity Ownership and Governance Analyst

Large existing holder and director significantly increased indirect ownership through open‑market purchases, reinforcing alignment with common stockholders and concentrating governance influence.

The filing shows that **Larry Robbins**, a **director and 10% owner** of **Butterfly Network, Inc.**, caused affiliated funds to buy substantial amounts of **Class A Common Stock** on three consecutive days. The Glenview investment vehicles purchased **821,648**, **536,893**, and **200,000** Shares on 12/03/2025, 12/04/2025, and 12/05/2025, at weighted average prices of $2.9619, $2.9947, and $3.0565. After these open‑market purchases, indirect beneficial ownership through those entities increased to **14,313,685** Shares, with additional indirect and direct interests disclosed.

These trades are reported as **P (purchase)** transactions, not option exercises or grants, which indicates cash outlay at market prices during the reported ranges. The filing clarifies that Glenview funds and Longview entities are the record holders, while Mr. Robbins may be deemed a beneficial owner due to shared voting and dispositive power, and he disclaims beneficial ownership beyond his pecuniary interest. This structure concentrates a larger voting block under a coordinated set of entities while preserving formal separation of record ownership.

The disclosure also notes **365,505** Shares of direct ownership, including **80,434 unvested RSUs** that will vest in full at the Issuer’s **2026 Annual Stockholders Meeting**, subject to continued board service. That vesting date provides a clear governance-linked milestone. Over the near to medium term, the key items to watch are any further Form 4 purchases or sales by these entities and any changes in Mr. Robbins’ board role or committee responsibilities around and after the 2026 meeting.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ROBBINS LARRY

(Last) (First) (Middle)

767 FIFTH AVENUE, 44TH FLOOR

(Street)

NEW YORK NY 10153

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Butterfly Network, Inc. [ BFLY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	12/03/2025		P		821,648(1)	A	$2.9619(2)	13,576,792	I	See footnotes(5)(7)
Class A Common Stock	12/04/2025		P		536,893(1)	A	$2.9947(3)	14,113,685	I	See footnotes(5)(7)
Class A Common Stock	12/05/2025		P		200,000(1)	A	$3.0565(4)	14,313,685	I	See footnotes(5)(7)
Class A Common Stock								4,546,687	I	See footnotes(6)(7)
Class A Common Stock								365,505(8)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares of the Issuer's Common Stock, par value $0.0001 per share (the "Shares") were purchased by Glenview Capital Master Fund, Ltd., Glenview Offshore Opportunity Master Fund, Ltd. and Glenview Healthcare Master Fund, L.P. (collectively, the "Glenview Investment Funds").

2. This price reflects the weighted average price for open-market purchases of Shares on December 3, 2025 within a $1.00 range. The actual prices for these transactions range from $2.83 to $2.97, inclusive. Mr. Robbins further undertakes to provide upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares purchased at each separate price.

3. This price reflects the weighted average price for open-market purchases of Shares on December 4, 2025 within a $1.00 range. The actual prices for these transactions range from $2.865 to $3.06, inclusive. Mr. Robbins further undertakes to provide upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares purchased at each separate price.

4. This price reflects the weighted average price for open-market purchases of Shares on December 5, 2025 within a $1.00 range. The actual prices for these transactions range from $3.0123 to $3.06, inclusive. Mr. Robbins further undertakes to provide upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares purchased at each separate price.

5. The Glenview Investment Funds are the record holders of these Shares. Mr. Robbins is the Founder, Portfolio Manager and CEO of Glenview Capital Management, LLC, which serves as investment manager to each of the Glenview Investment Funds. Mr. Robbins shares voting and dispositive power over the Shares held by the Glenview Investment Funds and may be deemed to beneficially own such Shares.

6. Longview Investors LLC ("Longview"), or its affiliates, is the record holder of these securities. Mr. Robbins is the managing member of Longview. Mr. Robbins shares voting and dispositive power over the securities held by Longview and may be deemed to beneficially own such securities.

7. Mr. Robbins disclaims beneficial ownership over any securities owned by Longview and the Glenview Investment Funds other than to the extent of any pecuniary interest he may have therein.

8. Includes 80,434 unvested restricted stock units ("RSUs"). Each RSU represents the right to receive one Share upon vesting. The RSUs vest in full on the date of the Issuer's 2026 Annual Stockholders Meeting, subject to Mr. Robbins' continued service on the Board of Directors on such date.

	/s/ Larry Robbins	12/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider activity did BFLY disclose for Larry Robbins?

The filing shows that Larry Robbins, a director and 10% owner of Butterfly Network, Inc. (BFLY), reported open-market purchases of the company’s Class A common stock on December 3, 4, and 5, 2025 through affiliated investment funds.

How many Butterfly Network (BFLY) shares did Larry Robbins buy on December 3, 2025?

On December 3, 2025, Glenview investment funds purchased 821,648 Butterfly Network Class A common shares at a weighted average price of $2.9619 per share.

What were the December 4 and 5, 2025 purchase details for BFLY shares?

On December 4, 2025, affiliated funds bought 536,893 Butterfly Network shares at a weighted average price of $2.9947. On December 5, 2025, they bought 200,000 shares at a weighted average price of $3.0565.

Who actually holds the Butterfly Network (BFLY) shares reported in this Form 4?

The shares are held by the Glenview Investment Funds, for which Glenview Capital Management, LLC serves as investment manager, and by Longview Investors LLC or its affiliates. Larry Robbins shares voting and dispositive power over these securities through his roles at these entities.

Does Larry Robbins beneficially own all the Butterfly Network (BFLY) shares held by Glenview and Longview?

The filing states that Larry Robbins may be deemed to beneficially own the shares held by the Glenview Investment Funds and Longview because he shares voting and dispositive power, but he disclaims beneficial ownership except to the extent of any pecuniary interest he may have.

What restricted stock units (RSUs) related to BFLY does Larry Robbins hold?

The filing notes that his holdings include 80,434 unvested restricted stock units (RSUs), each representing the right to receive one share. These RSUs vest in full on the date of Butterfly Network’s 2026 Annual Stockholders Meeting, subject to his continued service on the board through that date.