Executive at Butterfly Network (BFLY) gets RSU grant and automatic tax sale

Rhea-AI Filing Summary

Butterfly Network, Inc. Chief Business Officer Steve Cashman reported two equity transactions in Class A Common Stock. On March 2, 2026, he acquired 488,042 restricted stock units (RSUs) at $0.00 per share, each RSU representing one share that vests in three equal annual installments beginning on March 1, 2027, subject to continued service.

On March 3, 2026, he sold 42,540 shares at a weighted average price of about $3.712 per share, with sales prices ranging from $3.575 to $3.80 per share. According to the company’s “sell-to-cover” policy, these automatic sales were executed solely to cover tax withholding obligations arising from RSU vesting, not at the officer’s discretion.

Insights

Equity Compensation Analyst

Routine RSU grant and automatic tax sale; neutral impact.

Steve Cashman received 488,042 RSUs in Butterfly Network, Inc. Class A Common Stock, vesting annually over three years starting March 1, 2027. This is a standard equity award structure tying compensation to long-term company performance.

He also sold 42,540 shares at a weighted average of $3.712 per share. Footnotes state these were automatic “sell-to-cover” transactions under a company policy to satisfy tax withholding from RSU vesting, indicating no discretionary share sale decision. Overall, these disclosures represent routine executive compensation mechanics.

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 MA 01803

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		A		488,042(1)	A	$0	2,419,926	D
Class A Common Stock	03/03/2026		S(2)		42,540	D	$3.712(3)	2,377,386	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. Consists of restricted stock units ("RSUs"). Each RSU represents the right to receive one share of Class A Common Stock upon vesting. The RSUs vest in three equal annual installments beginning on March 1, 2027, subject to the Reporting Person's continued service on each such vesting date.

2. 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.

3. Represents the weighted average sales price per share. The shares sold at prices ranging from $3.575-$3.80 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	03/04/2026
	** 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.

FAQ

What equity award did BFLY executive Steve Cashman report on this Form 4?

Steve Cashman reported receiving a grant of 488,042 restricted stock units (RSUs) of Butterfly Network Class A Common Stock at $0.00 per share. Each RSU converts into one share, vesting in three equal annual installments starting March 1, 2027, subject to continued service.

How do Steve Cashman’s new RSUs in Butterfly Network (BFLY) vest?

The 488,042 RSUs vest in three equal annual installments beginning on March 1, 2027. Vesting is conditioned on Steve Cashman’s continued service with Butterfly Network on each vesting date, meaning he must remain with the company to receive the underlying shares.

What stock sale did Steve Cashman disclose for Butterfly Network (BFLY)?

He disclosed selling 42,540 shares of Butterfly Network Class A Common Stock at a weighted average price of about $3.712 per share. The footnotes state the sale prices ranged from $3.575 to $3.80 per share across the executed trades.

Why did Steve Cashman sell Butterfly Network (BFLY) shares on March 3, 2026?

The Form 4 notes Butterfly Network has a “sell-to-cover” policy for tax withholding. The 42,540 shares sold on March 3, 2026 were executed automatically to cover tax withholding obligations from RSU vesting, and were not at his discretion.

Were Steve Cashman’s Butterfly Network (BFLY) stock sales open-market decisions?

The sales were reported with code S but a footnote explains they were automatic sales under a company “sell-to-cover” policy. They occurred solely to satisfy tax withholding obligations from RSU vesting, rather than a discretionary open-market sale decision by Cashman.

What price range applied to Steve Cashman’s Butterfly Network (BFLY) stock sale?

The filing states the weighted average price for the 42,540 shares was about $3.712 per share. A footnote adds the individual trade prices ranged from $3.575 to $3.80 per share, with detailed breakdowns available upon request.