Butterfly Network, Inc. Form 4 Filings

Butterfly Network, Inc. (BFLY) reported that Megan Carlson, its CAO and SVP, Finance, sold 13,804 shares of Class A common stock on September 4, 2026 in an open-market transaction at a weighted average price of $7.302 per share. These automatic sales were executed under the company’s sell-to-cover policy to satisfy tax withholding obligations arising from the vesting of restricted stock units, and were not at her discretion. Following the transaction, she held 412,085 shares of Class A common stock.

Butterfly Network, Inc. (BFLY) reported that officer Nicholas Caezza, Deputy General Counsel, sold 1,709 shares of Class A Common Stock on September 2, 2026 at a weighted average price of $8.149 per share, with individual sale prices ranging from $8.10 to $8.28.

The company states these automatic sales were made under its “sell-to-cover” policy solely to satisfy tax withholding obligations arising from the vesting of restricted stock units, and were not at Caezza’s discretion. After the sale, he held 305,166 shares, including 6,568 shares acquired through the employee stock purchase plan on June 30, 2026.

Butterfly Network, Inc. (BFLY) reported an insider transaction by President & CEO and director Joseph DeVivo. On August 24, 2026, he made a bona fide gift of 250,000 shares of Class A common stock. According to the disclosure, these shares were transferred to irrevocable trusts for the benefit of his children. After this gift, DeVivo directly held 7,353,700 shares of Butterfly Network Class A common stock.

Butterfly Network, Inc. director Larry Robbins reported indirect sales of 2,297,733 shares of Class A Common Stock between August 13 and 17, 2026. The shares were sold in open-market transactions by investment entities Glenview Offshore Opportunity Master Fund, Ltd., Glenview Healthcare Master Fund, L.P., and Longview Investors LLC or its affiliates, with weighted average prices per transaction ranging from about $8.70 to $9.54. Robbins is an investment manager or managing member for these entities, may be deemed to share voting and dispositive power, and disclaims beneficial ownership beyond any pecuniary interest. A separate entry shows 390,952 shares of Class A Common Stock held directly by Robbins as of August 13, 2026.

Butterfly Network, Inc. director Louise S. Phanstiel, through The Phanstiel Trust u/a/d 2/5/02, purchased 115,200 shares of Class A Common Stock on 2026-08-14 at a weighted average price of $8.6763 per share, with trade prices ranging from $8.49 to $8.865 per share.

After this transaction, indirect holdings via the trust total 300,461 shares, and a separate entry reports 390,952 shares held directly. The filing does not indicate use of a Rule 10b5-1 trading plan.

Butterfly Network, Inc. insider Nicholas Caezza, Deputy General Counsel, reported a sale of 10,000 shares of Class A common stock on 2026-08-11 at $9.75 per share in an open market or private transaction. Following this sale, Caezza directly holds 300,307 shares of Class A common stock. The filing indicates the Rule 10b5-1 trading-plan checkbox was not selected.

Butterfly Network, Inc. director and President & CEO Joseph DeVivo reported selling 68,346 shares of Class A common stock on August 10, 2026 at a weighted average price of $10.009 per share. The sale was executed pursuant to a Rule 10b5-1 trading plan adopted on December 12, 2025, and DeVivo reported holding 7,603,700 shares of Class A common stock directly following the transaction.

Butterfly Network, Inc. executive Megan Carlson, CAO and SVP, Finance, sold 68,852 shares of Class A Common Stock on July 31, 2026 in an open-market or private transaction at a weighted average price of $7.863 per share, with prices ranging from $7.775 to $8.005. After this sale, she directly holds 425,889 shares, including 28,835 shares acquired under the company’s employee stock purchase plan on June 30, 2026.

Butterfly Network, Inc. director Larry Robbins, through investment funds he advises, reported indirect sales totaling 1,876,292 shares of Class A Common Stock on July 31 and August 3, 2026. The July 31 sales were at a weighted average price of $7.3925 per share, within a range of $7.2282 to $7.82; the August 3 sales were at $8.1048 per share.

The shares were held by Glenview investment funds and Longview Investors LLC, over which Robbins shares voting and dispositive power and may be deemed to beneficially own, while disclaiming beneficial ownership except for any pecuniary interest. As of July 31, 2026, he held 390,952.0000 shares directly.

Butterfly Network, Inc. director Dr. Jonathan M. Rothberg reported that LLC and trust entities he manages sold 659,913 shares of Class B common stock on 2026-07-22 at a weighted average price of $6.4698 per share, with trades from $6.355 to $6.78. The Class B shares automatically converted into Class A on a one-for-one basis upon sale and were sold under a Rule 10b5-1 trading plan adopted March 13, 2026 for estate-planning purposes. He reports direct ownership of 105,881 Class A shares plus large indirect positions via 4C Holdings entities and his spouse, while disclaiming beneficial ownership of those indirect holdings except to his pecuniary interest.

Butterfly Network, Inc. director and 10% owner Jonathan M. Rothberg reported that entities he manages sold 3,126,453 shares of Class B common stock on July 17–21, 2026 in open‑market or private transactions at weighted‑average prices of $6.5959, $6.6138 and $6.7359 per share. The Class B shares automatically converted into Class A common stock on a one‑to‑one basis upon sale under a Rule 10b5‑1 trading plan adopted March 13, 2026 for estate planning purposes. Reported indirect holdings include 496,680 Class B shares by EJR TR, LLC and 72,724 Class B shares by NVR TR, LLC, among other entities, while Rothberg disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.

Butterfly Network, Inc. Chief Technology Officer Victor Ku reported an automatic sale of 48,540 shares of Class A common stock on July 20, 2026 to cover tax withholding from vesting restricted stock units, at a weighted average price of $6.56 (range $6.46–$6.665). After these sell-to-cover transactions, he directly holds 1,015,099 shares.

Butterfly Network, Inc. executive vice president and CFO John N. Doherty reported selling 57,136 shares of Class A Common Stock on July 20, 2026 at a weighted average price of $6.56 per share. The company states these automatic sales occurred under its sell-to-cover policy to satisfy tax withholding on vested RSUs. Following the transactions, Doherty directly holds 1,397,276 shares of Class A Common Stock.

Butterfly Network, Inc. reported that President & CEO Joseph DeVivo sold 211,798 shares of Class A common stock on July 20, 2026 at a weighted average price of $6.56 per share, within a range of $6.46 to $6.665. According to the company’s sell-to-cover policy, these automatic sales were made solely to satisfy tax withholding obligations arising from the vesting of restricted stock units and were not at DeVivo’s discretion. Following the transaction, he directly holds 7,672,046 shares of Butterfly Network common stock.

Butterfly Network, Inc. director and 10% owner Jonathan M. Rothberg reported open-market sales totaling 4,013,452 shares of Class A and Class B common stock on July 14–16, 2026, at prices between $6.845 and $8.00 per share under a pre-arranged Rule 10b5-1 trading plan adopted on March 13, 2026 for estate planning purposes. He continues to hold Butterfly Network shares directly and through several LLCs and trusts.

Butterfly Network, Inc. Chief Technology Officer Victor Ku sold 35,649 shares of Class A Common Stock at a weighted average price of $7.873 per share. According to company policy, these automatic “sell-to-cover” transactions were made solely to satisfy tax withholding on vested restricted stock units. After the sale, he directly holds 1,063,639 shares.

Butterfly Network, Inc. EVP and CFO John N. Doherty reported an open-market sale of 55,229 shares of Class A common stock at a weighted average price of $7.873 per share. The sale was made automatically under a company “sell-to-cover” policy to satisfy tax withholding on vested restricted stock units, and was not at his discretion. After the transaction, he directly holds 1,454,412 shares.

Butterfly Network, Inc. director and President & CEO Joseph DeVivo reported an open-market sale of 204,725 shares of Class A common stock at a weighted average price of $7.873 per share. According to the company’s policy, these automatic “sell-to-cover” transactions were executed solely to satisfy tax withholding obligations from vesting restricted stock units and were not at his discretion.

Following the sale, DeVivo directly holds 7,883,844 shares of Butterfly Network common stock. His holdings include 28,835 shares acquired under the company’s employee stock purchase plan on June 30, 2025 and 28,835 shares acquired on June 30, 2026, as noted in the filing footnotes.

Butterfly Network, Inc. CAO and SVP, Finance Megan Carlson reported an automatic sale of shares to cover taxes on vested restricted stock units. She sold 41,303 shares of Class A Common Stock at a weighted average price of $7.964 per share under the company’s sell-to-cover policy and now holds 465,906 shares directly.

Schwartz Erica reported acquisition or exercise transactions in this Form 4 filing.

Butterfly Network, Inc. director Erica Schwartz received an equity grant of 25,447 restricted stock units, each representing one share of Class A common stock upon vesting. This award was issued as her annual grant under the company’s nonemployee director compensation policy.

The RSUs vest in full on the date of Butterfly Network’s 2027 Annual Stockholders Meeting, subject to her continued service on the Board. Following this grant, Schwartz directly holds 401,699 shares or share-equivalent RSUs of Class A common stock.

ROTHBERG JONATHAN M reported acquisition or exercise transactions in this Form 4 filing.

Butterfly Network, Inc. director and greater-than-10% owner Jonathan M. Rothberg reported an equity compensation grant and updated his holdings. He received 25,447 restricted stock units (RSUs) of Class A common stock at a price of $0.00 per share as a nonemployee director award.

Each RSU represents one share of Class A common stock when it vests. The RSUs vest in full on the date of Butterfly Network’s 2027 Annual Stockholders Meeting, subject to Dr. Rothberg’s continued service on the Board through that date. Following this grant, he directly holds 2,905,699 Class A shares.

The filing also lists significant indirect holdings in Class B common stock through multiple LLCs and in Class A shares held by his spouse, with Dr. Rothberg disclaiming beneficial ownership of those securities except to the extent of his pecuniary interest.

ROBBINS LARRY reported acquisition or exercise transactions in this Form 4 filing.

Butterfly Network director Larry Robbins received a grant of 25,447 restricted stock units (RSUs) as his annual equity award for nonemployee directors. Each RSU represents one share of Class A common stock and was granted at a price of $0.00 per share.

The RSUs vest in full on the date of Butterfly Network’s 2027 Annual Stockholders Meeting, subject to Robbins’ continued service on the Board. Following this award, he directly holds 390,952 shares of Class A common stock.

Additional indirect holdings are reported for entities associated with Robbins, including shares held by Glenview Investment Funds and Longview Investors LLC, over which he shares voting and dispositive power and may be deemed to beneficially own, while disclaiming beneficial ownership beyond his pecuniary interest.

Phanstiel S. Louise reported acquisition or exercise transactions in this Form 4 filing.

Butterfly Network, Inc. director S. Louise Phanstiel reported an equity compensation grant in the form of restricted stock units (RSUs). She received 25,447 RSUs of Class A common stock at no cash cost, characterized as a grant or award rather than an open-market purchase.

The RSUs constitute her annual grant to nonemployee directors under the company’s Amended and Restated Nonemployee Director Compensation Policy and vest in full on the date of the issuer’s 2027 Annual Stockholders Meeting, subject to her continued Board service. Following this grant, she holds 390,952 Class A shares directly, while a separate trust, The Phanstiel Trust u/a/d 2/5/02, holds 185,261 shares indirectly.

Neubauer Caroll H reported acquisition or exercise transactions in this Form 4 filing.

Butterfly Network, Inc. director Caroll H. Neubauer received a grant of 25,447 restricted stock units (RSUs) of Class A common stock as an annual award for nonemployee directors. Each RSU represents one share that will vest in full at the company’s 2027 Annual Stockholders Meeting, assuming continued board service. Following this grant, Neubauer directly holds 98,617 shares of Class A common stock, reflecting a compensation-related equity award rather than an open-market purchase.

Butterfly Network, Inc. director Elazer R. Edelman received a grant of 25,447 restricted stock units of Class A common stock as his annual compensation for serving as a nonemployee director. The RSUs vest in full at the company’s 2027 Annual Stockholders Meeting, if he remains on the board.

Each RSU converts into one share upon vesting, with no cash paid by Edelman for the award. Following this grant, he holds a total of 392,893 shares and RSUs of Class A common stock directly.

Butterfly Network’s Chief Business Officer, Steve Cashman, reported open-market sales of Class A Common Stock. On June 5, 2026, he sold 104,781 shares at a weighted average price of $4.964 per share. On June 8, 2026, he sold 294,680 shares at a weighted average price of $4.66 per share. In total, he sold 399,461 shares and now directly holds 1,630,407 shares of Butterfly Network stock.

Butterfly Network, Inc. Deputy General Counsel Nicholas Caezza reported an open-market sale of 1,733 shares of Class A common stock at a weighted average price of $4.519 per share. After this transaction, he directly holds 310,307 shares.

According to the disclosure, the company has adopted a sell-to-cover policy for employee tax withholding. The shares sold represent the amount required to satisfy tax withholding obligations related to vesting of restricted stock units, and the sale was automatic rather than at Caezza’s discretion.

Neubauer Caroll H reported acquisition or exercise transactions in this Form 4 filing.

Butterfly Network, Inc. director Caroll H. Neubauer received an equity award of 73,170 shares of Class A Common Stock in the form of restricted stock units (RSUs). The award was granted at no cash cost per share and represents his entire reported direct holding after this transaction.

The RSUs vest in equal annual installments over three years beginning on May 19, 2027, contingent on Mr. Neubauer’s continued service on the Board of Directors at each vesting date. This structure aligns his compensation with the company’s long-term performance and his ongoing board service.

Butterfly Network, Inc. Chief Accounting Officer and SVP, Finance Megan Carlson reported an open-market sale of 110,422 shares of Class A Common Stock on May 1, 2026 at a weighted average price of $4.749 per share, with trades ranging from $4.735 to $4.785. Following this transaction, she directly holds 507,209 shares of the company’s stock.

Butterfly Network, Inc. Chief Business Officer Steve Cashman reported an open-market sale of 147,518 shares of Class A common stock at a weighted average price of $4.909 per share. According to the company’s sell-to-cover policy, these automatic sales were made solely to cover tax withholding on vested restricted stock units. Following the transaction, Cashman directly holds 2,029,868 shares, indicating the sale represents a relatively small portion of his overall stake.

Butterfly Network, Inc. Chief Business Officer Steve Cashman executed an open-market sale of 200,000 shares of Class A Common Stock at a weighted average price of $5.222 per share. The transaction was carried out under a pre-arranged Rule 10b5-1 trading plan.

After this sale, Cashman directly holds 2,177,386 shares of Butterfly Network common stock, indicating he retains a substantial equity position even after the planned disposition.

Butterfly Network, Inc. President & CEO Joseph DeVivo reported an open-market sale of 482,149 shares of Class A common stock at a weighted average price of $3.709 per share. According to the company’s sell-to-cover policy, these shares were sold automatically to cover tax withholding from vested restricted stock units, not at his discretion. After the sale, he directly owned 8,030,899 shares.

Butterfly Network, Inc. reported that EVP and CFO John N. Doherty acquired 274,953 shares of Class A Common Stock in the form of restricted stock units (RSUs). Each RSU represents one share and will vest in three equal annual installments beginning on March 1, 2027, contingent on his continued service. Following this grant, he now holds 1,509,641 shares directly.

Ku Victor reported acquisition or exercise transactions in this Form 4 filing.

Butterfly Network, Inc. reported that Chief Technology Officer Victor Ku received a grant of 287,326 shares of Class A common stock in the form of restricted stock units. Each RSU equals one share and will vest in three equal annual installments starting on March 1, 2027, contingent on his continued service. Following this equity award, his directly held Class A common stock totaled 1,099,288 shares.

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.

Butterfly Network, Inc. President & CEO Joseph DeVivo reported two equity transactions in Class A Common Stock. On March 2, 2026, he acquired 1,424,534 restricted stock units (RSUs) at $0 per share as a grant, each RSU representing one share upon vesting. According to the disclosure, these RSUs vest in three equal annual installments beginning March 1, 2027, subject to his continued service.

On March 3, 2026, he sold 161,275 shares of Class A Common Stock in an open-market transaction at a weighted average price of $3.712 per share, with individual sale prices ranging from $3.575 to $3.80 per share. The company states it has a sell-to-cover policy and that these sales were automatically executed solely to satisfy tax withholding obligations related to RSU vesting and were not at his discretion. After the reported sale, his directly held stake was 8,513,048 shares of Class A Common Stock.

Butterfly Network, Inc. deputy general counsel Nicholas Caezza reported equity compensation and a related tax sale. He was granted 89,359 restricted stock units, each representing one share of Class A common stock, vesting in three equal annual installments beginning on March 1, 2027, subject to continued service.

To cover tax withholding from RSU vesting under the company’s sell-to-cover policy, he automatically sold 14,209 Class A shares in an open-market transaction at a weighted average price of $3.712 per share, with prices ranging from $3.575 to $3.80. Following these transactions, he directly held 312,040 shares, including 5,855 shares acquired under the employee stock purchase plan on December 31, 2025.

Butterfly Network, Inc. CAO and SVP, Finance Megan Carlson reported one stock grant and one stock sale involving Class A Common Stock. On March 2, 2026, she acquired 97,883 restricted stock units, each representing one share, which vest in three equal annual installments beginning on March 1, 2027, subject to her continued service. On March 3, 2026, she sold 41,978 shares in an open-market transaction at a weighted average price of $3.712 per share, with sale prices ranging from $3.575 to $3.80. The company states these sales were automatic under a “sell-to-cover” policy to satisfy tax withholding on RSU vesting, and not at her discretion. After these transactions, she directly held 617,631 shares, which includes 14,282 shares previously acquired under the employee stock purchase plan.

Butterfly Network Chief Business Officer Steve Cashman reported an open-market sale of 250,000 shares of Class A common stock. The sale occurred at a weighted average price of $4.348 per share, with individual prices between $3.99 and $4.955, under a Rule 10b5-1 trading plan. After this transaction, he holds 1,931,884 shares directly.

Butterfly Network, Inc. executive vice president and chief financial officer John N. Doherty reported an automatic sale of company stock tied to tax withholding. On January 7, 2026, he sold 60,182 shares of Class A common stock at a weighted average price of $3.98 per share, with individual sale prices ranging from $3.915 to $4.055. According to the company’s “sell-to-cover” policy, these sales were made only to cover tax obligations arising from the vesting of restricted stock units and were not at his discretion. After the transaction, Doherty beneficially owned 1,234,688 shares of Butterfly Network Class A common stock.

Butterfly Network, Inc. director and 10% owner Jonathan M. Rothberg reported sales of Class A common stock made indirectly through JAR TR, LLC. JAR TR, LLC sold 351,617 shares on 01/06/2026 at a weighted average price of $4.0294, 452,729 shares on 01/07/2026 at $4.1399, and 335,834 shares on 01/08/2026 at $4.1822, leaving no Class A shares held by that entity after the reported transactions.

The sales were effected under a Rule 10b5-1 trading plan adopted on March 5, 2025 for estate-planning purposes. Rothberg remains associated with substantial holdings of Class A and Class B common stock through direct ownership, his spouse, and multiple LLC and trust entities, while disclaiming beneficial ownership of those securities except to the extent of his pecuniary interest.

Butterfly Network Chief Technology Officer Victor Ku reported an automatic sale of company stock related to tax withholding. On January 5, 2026, he sold 35,968 shares of Butterfly Network Class A common stock at a weighted average price of $3.82 per share in a transaction coded as a sale.

According to the disclosure, Butterfly Network has a "sell-to-cover" policy for equity awards, and these shares were sold automatically to cover tax withholding triggered by the vesting of restricted stock units, rather than at Ku’s discretion. After this transaction, Ku beneficially owned 811,962 shares of Class A common stock directly.

Butterfly Network, Inc. director and 10% owner Jonathan M. Rothberg, Ph.D. reported multiple open‑market sales of Class A common stock made under a pre‑arranged Rule 10b5‑1 trading plan adopted on March 5, 2025 for estate planning purposes.

Through JAR TR, LLC, he sold 44,781 shares at a weighted average price of $4.0067 on 12/23/2025, 2,673 shares at $4.00 on 12/24/2025, and 14,911 shares at a weighted average price of $4.0098 on 12/26/2025. After these transactions, 1,157,764, 1,155,091 and then 1,140,180 Class A shares remained indirectly owned through JAR TR, LLC.

In addition, substantial indirect holdings of Class A and Class B common stock are reported through various entities, including 4C Holdings I–V, NVR TR, JNR TR, GBR TR, EJR TR, and the reporting person’s spouse, while Dr. Rothberg disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.

Butterfly Network director and 10% owner Jonathan M. Rothberg, Ph.D. reported sales of Class A common stock executed under a Rule 10b5‑1 trading plan. The plan was adopted on March 5, 2025 for estate planning purposes. Reported transactions included a sale of 601,308 Class A shares on December 15, 2025 at a weighted average price of $3.1642 per share, followed on December 16, 2025 by sales of 50,360, 196,662 and 37,964 Class A shares at a weighted average price of $3.1364 per share. The prices reflected ranges from $3.07 to $3.2373 and from $3.07 to $3.265 per share. After these trades, the report shows continued holdings of Butterfly Network stock directly and indirectly through family trusts and holding entities, including 1,202,545 Class A shares through JAR TR, LLC, 2,880,252 Class A shares held directly, 726,696 Class A shares held by his spouse, and multiple blocks of Class B common stock held via several 4C Holdings and trust entities.

Butterfly Network, Inc. reported that one of its directors bought 185,261 shares of Class A common stock on December 15, 2025 in an open-market purchase. The shares were acquired at a weighted average price of $3.083 per share through The Phanstiel Trust u/a/d 2/5/02, which now holds 185,261 shares indirectly for the reporting person. Separately, the director also holds 365,505 shares of Class A common stock directly.

Butterfly Network director and 10% owner Larry Robbins reported buying 21,370 shares of Class A common stock on December 11, 2025 at a weighted average price of $3.0169. The filing notes these were open-market purchases, with individual trade prices ranging from $3.015 to $3.02.

After this transaction, Robbins beneficially owned 14,335,055 shares indirectly through the Glenview Investment Funds and 4,546,687 shares indirectly through Longview Investors LLC or its affiliates, plus 365,505 shares held directly. The direct holdings include 80,434 unvested restricted stock units, each representing one share, which vest in full at Butterfly Network’s 2026 annual stockholders meeting, subject to Robbins’ continued service on the board. Footnotes explain that Glenview and Longview are the record holders, that Robbins may be deemed to share voting and dispositive power, and that he disclaims beneficial ownership beyond any pecuniary interest.

Butterfly Network, Inc. insider Jonathan M. Rothberg, Ph.D., a director and 10% owner, reported multiple open-market sales of Class A common stock in mid-December 2025 under a pre-arranged Rule 10b5-1 trading plan adopted on March 5, 2025 for estate planning purposes. On December 10, 2025, an affiliated entity, EJR TR, LLC, sold 288,918 Class A shares at a weighted average price of $3.1332 per share. On December 11, 2025, EJR TR, LLC sold 123,354 Class A shares at a weighted average price of $3.0816 per share. On December 12, 2025, EJR TR, LLC sold 82,262 Class A shares and JNR TR, LLC sold 111,031 Class A shares, each at a weighted average price of $3.0804 per share. Following these transactions, Rothberg continues to report indirect holdings in multiple entities and disclaims beneficial ownership beyond his pecuniary interest.

Butterfly Network, Inc. insider activity shows a director and 10% owner reporting sales of Class A common stock. On December 8, 2025, entities associated with the reporting person sold 543,601 Class A shares and 225,726 Class A shares at a weighted average price of $3.2727 per share. On December 9, 2025, an associated entity sold an additional 176,070 Class A shares at a weighted average price of $3.1054 per share. The filing states these transactions were made under a Rule 10b5-1 trading plan adopted on March 5, 2025 for estate planning purposes. After these sales, the reporting person continues to hold indirect beneficial ownership in Class A and Class B shares through multiple LLC and trust entities.

Butterfly Network, Inc. (BFLY) reported an equity award to its Executive Vice President and Chief Financial Officer in the form of restricted stock units (RSUs) on December 8, 2025. The officer received 863,247 RSUs, each convertible into one share of Class A common stock, with one-third vesting on December 8, 2026 and the rest vesting annually over the following two years, subject to continued service.

The officer also received 431,623 performance-based RSUs. These vest in three equal tranches if the stock price reaches or exceeds $3.00, $4.50, and $6.00 per share, respectively, for 20 consecutive trading days before December 8, 2030, and if the officer remains in service through each vesting date. The reported acquisition price for the RSUs is $0 as they are part of compensation.