Butterfly Network (BFLY) CBO Steve Cashman Sells 140,112 Shares

What Happened
Steve Cashman, Chief Business Officer of Butterfly Network (BFLY), reported the sale of 140,112 shares on 2026-09-04. The shares were sold at a weighted average price of $7.30 per share (range $7.25–$7.3981), generating gross proceeds of approximately $1,023,098. According to the filing, these sales were automatic sell-to-cover transactions to satisfy tax withholding on vested restricted stock units (RSUs), not discretionary open-market trades.

Key Details

• Transaction date: 2026-09-04; Form 4 filed 2026-09-09. (Form 4 is normally due within two business days—this filing appears to have been submitted after that window.)
• Transaction type/code: Sale (S) — reported as open market or private sale, but footnote clarifies sell-to-cover for tax withholding.
• Shares sold: 140,112; weighted average price $7.30; price range $7.25–$7.3981.
• Reported proceeds: ~$1,023,098.
• Shares owned after the transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 — sales were automatic to cover tax withholding on RSU vesting; F2 — weighted average price and price range; full per-price breakdown available on request to the SEC or issuer.

Context
Sell-to-cover transactions are common when RSUs vest and are typically used only to cover tax obligations; they are automatic and do not necessarily signal the insider’s view of the company. Purchases generally provide stronger evidence of insider bullishness; routine tax-related sales like this are often administrative.