Butterfly Network (BFLY) director files Form 4 for planned share sales

Rhea-AI Filing Summary

Butterfly Network, Inc. insider Jonathan M. Rothberg, Ph.D., a director and 10% owner, reported planned stock sales under a Rule 10b5-1 trading plan. The plan was adopted on March 5, 2025 for estate planning purposes.

On December 4, 2025, an affiliated entity, GBR TR, LLC, sold 64,198 shares of Class A common stock at a weighted average price of $3.076 per share, leaving 581,199 Class A shares indirectly held by that entity. On December 5, 2025, GBR TR, LLC sold an additional 37,598 Class A shares at a weighted average price of $3.0744, with 543,601 Class A shares remaining indirectly held.

Rothberg reports indirect beneficial ownership of additional Class A and Class B common stock through multiple family trusts and holding companies and disclaims beneficial ownership beyond his pecuniary interest.

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).

X

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^*

ROTHBERG JONATHAN M

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/04/2025

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	12/04/2025		S(1)		64,198	D	$3.076(2)	581,199	I	By GBR TR, LLC(3)
Class A Common Stock	12/05/2025		S(1)		37,598	D	$3.0744(4)	543,601	I	By GBR TR, LLC(3)
Class A Common Stock								2,880,252	D
Class A Common Stock								512,827	I	By JNR TR, LLC(3)
Class A Common Stock								544,894	I	By EJR TR, LLC(3)
Class A Common Stock								797,970	I	By NVR TR, LLC(3)
Class A Common Stock								1,240,509	I	By JAR TR, LLC(3)
Class A Common Stock								726,696	I	By Bonnie E Gould Rothberg MD(3)
Class B Common Stock								4,716,596	I	By 4C Holdings I, LLC(3)
Class B Common Stock								2,621,701	I	By 4C Holdings II, LLC(3)
Class B Common Stock								2,621,701	I	By 4C Holdings III, LLC(3)
Class B Common Stock								2,621,701	I	By 4C Holdings IV, LLC(3)
Class B Common Stock								8,845,238	I	By 4C Holdings V, LLC(3)
Class B Common Stock								1,250,000	I	By NVR TR, LLC(3)
Class B Common Stock								1,250,000	I	By JNR TR, LLC(3)
Class B Common Stock								1,250,000	I	By GBR TR, LLC(3)
Class B Common Stock								1,250,000	I	By EJR TR, LLC(3)

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 transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 5, 2025 for estate planning purposes.

2. Represents the weighted average sales price per share. The shares sold at prices ranging from $3.07 to $3.0886 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.

3. Dr. Rothberg is the Manager of 4C Holdings I, LLC, 4C Holdings II, LLC, 4C Holdings III, LLC, 4C Holdings IV, LLC, 4C Holdings V, LLC, NVR TR, LLC, JNR TR, LLC, JAR TR, LLC, GBR TR, LLC and EJR TR, LLC, and is the spouse of Bonnie E Gould Rothberg MD. Dr. Rothberg disclaims beneficial ownership of the securities held by these persons and entities except to the extent of his pecuniary interest therein.

4. Represents the weighted average sales price per share. The shares sold at prices ranging from $3.07 to $3.09 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/ Jonathan M. Rothberg, Ph.D.	12/08/2025
	** 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).
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 insider stock transactions did Butterfly Network (BFLY) report?

Jonathan M. Rothberg, Ph.D., a director and 10% owner of Butterfly Network, reported sales of Class A common stock by GBR TR, LLC on December 4 and 5, 2025, totaling two transactions in which shares were sold at weighted average prices slightly above $3.07 per share.

How many Butterfly Network (BFLY) shares were sold in the latest Form 4?

GBR TR, LLC sold 64,198 Class A common shares on December 4, 2025 at a weighted average price of $3.076, and 37,598 Class A common shares on December 5, 2025 at a weighted average price of $3.0744.

What is the reporting person’s remaining Butterfly Network (BFLY) stake after the sales?

After the December 5, 2025 transaction, GBR TR, LLC indirectly held 543,601 Class A common shares. The filing also lists substantial additional indirect holdings of both Class A and Class B common stock through several trusts and holding companies associated with Jonathan M. Rothberg and family members.

Were the BFLY insider sales made under a Rule 10b5-1 trading plan?

Yes. The transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 5, 2025, which the filing states was established for estate planning purposes.

What prices did the Butterfly Network (BFLY) insider receive for the sold shares?

The filing reports weighted average sales prices. On December 4, 2025, shares were sold at a weighted average price of $3.076 per share, with individual sale prices ranging from $3.07 to $3.0886. On December 5, 2025, the weighted average price was $3.0744, with prices ranging from $3.07 to $3.09.

How does Jonathan M. Rothberg report his indirect ownership in Butterfly Network (BFLY)?

Rothberg is the manager of several entities, including 4C Holdings I–V, LLC and multiple family trusts such as NVR TR, LLC and GBR TR, LLC, and is the spouse of Bonnie E Gould Rothberg MD. He disclaims beneficial ownership of the securities held by these persons and entities except to the extent of his pecuniary interest.