Butterfly Network CBO sells 140K shares for taxes

Butterfly Network’s Chief Business Officer executed an automatic sell-to-cover stock sale tied to RSU vesting and remains a large shareholder after the transaction.

Rhea-AI Filing Summary

Butterfly Network, Inc. (BFLY) reported that Chief Business Officer Steve Cashman sold 140,112 shares of Class A Common Stock on September 4, 2026 at a weighted average price of $7.302 per share. According to the company’s sell-to-cover policy, these automatic sales covered tax withholding on vested restricted stock units, and Cashman now directly holds 1,490,295 shares.

Insider Trade Summary

Net Seller: 140,112 shares

Net Sell 1 txn

Insider Cashman Steve

Role Chief Business Officer

Sold 140,112 shs ($1.02M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1, F2	140,112	$7.302	$1.02M

Holdings After Transaction: Class A Common Stock — 1,490,295 shares (Direct)

Footnotes (2)

1. F1. The Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.
2. F2. Represents the weighted average sales price per share. The shares sold at prices ranging from $7.25 to $7.3981 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.

Key Figures

Shares sold: 140,112 shares Weighted average sale price: $7.302 per share Sale price range: $7.25–$7.3981 per share +2 more

5 metrics

Shares sold 140,112 shares Class A Common Stock sold on September 4, 2026

Weighted average sale price $7.302 per share Open-market or private sale on September 4, 2026

Sale price range $7.25–$7.3981 per share Range of prices for the reported sale transactions

Shares owned after transaction 1,490,295 shares Direct holdings of Steve Cashman after the sale

Net shares sold 140,112 shares Net-sell direction across reported transactions

Key Terms

sell-to-cover, restricted stock units, weighted average sales price

3 terms

sell-to-cover financial

"adopted a "sell-to-cover" policy to satisfy the tax withholding"

Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.

restricted stock units financial

"tax withholding obligations in connection with the vesting of restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

weighted average sales price financial

"Represents the weighted average sales price per share"

FAQ

What insider transaction did BFLY disclose for Steve Cashman?

Butterfly Network disclosed that Chief Business Officer Steve Cashman sold 140,112 shares of Class A Common Stock on September 4, 2026 at a weighted average price of $7.302 per share in an automatic sell-to-cover tax transaction related to RSU vesting.

Why did Steve Cashman sell Butterfly Network (BFLY) shares?

The sale was made under Butterfly Network’s sell-to-cover policy to satisfy Cashman’s tax withholding obligations from the vesting of restricted stock units. The filing states these sales were automatic and not at his discretion.

How many Butterfly Network (BFLY) shares does Steve Cashman own after this sale?

After the reported transaction, Steve Cashman directly owns 1,490,295 shares of Butterfly Network Class A Common Stock, according to the Form 4 disclosure.

At what prices were the sold BFLY shares transacted?

The Form 4 reports a weighted average sales price of $7.302 per share for the 140,112 shares sold. Footnotes state individual trades occurred in a price range from $7.25 to $7.3981 per share.

Was Steve Cashman’s BFLY stock sale under a Rule 10b5-1 plan?

The filing does not state that the sale was under a Rule 10b5-1 trading plan and indicates the document-level checkbox is not marked. It explains instead that the trades were automatic sell-to-cover transactions under the issuer’s tax withholding policy.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/09/2026 - 04:45 PM Accepted by SEC EDGAR 09/09/2026 - 04:45 PM Learn about SEC filing dates

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
Estimated average burden
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^*

Cashman Steve

(Last) (First) (Middle)

C/O BUTTERFLY NETWORK, INC.

1600 DISTRICT AVENUE

(Street)

BURLINGTON MASSACHUSETTS 01803

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2026

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

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

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

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	09/04/2026		S(1)		140,112	D	$7.302(2)	1,490,295	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. The Issuer has adopted a "sell-to-cover" policy to satisfy the tax withholding obligations of the Reporting Person. The sales reported on this Form 4 represent the number of shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. Such sales were automatic and not at the discretion of the Reporting Person.

2. Represents the weighted average sales price per share. The shares sold at prices ranging from $7.25 to $7.3981 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.

	/s/ Nick Caezza, Attorney-in-Fact	09/09/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)