Steve Cashman - Sep 3, 2024 Form 4 Insider Report for Butterfly Network, Inc. (BFLY)

Role: Chief Business Officer
Signature: /s/ Nick Caezza, Attorney-in-Fact
Stock symbol: BFLY
Transactions as of: Sep 3, 2024
Transactions value $: $0
Form type: 4
Date filed: 9/5/2024, 04:02 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFLY	Class A Common Stock	Award	$0	+1M		$0.00	1M	Sep 3, 2024	Direct	F1
transaction	BFLY	Class A Common Stock	Award	$0	+1M	+100%	$0.00	2M	Sep 3, 2024	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Consists of restricted stock units ("RSUs"). Each RSU represents the right to receive one share of Class A Common Stock ("Common Stock") upon vesting. One-third of the RSUs underlying this grant vest on September 3, 2025, and the remainder shall vest on a pro rata annual basis over the next two years, subject to the Reporting Person's continued service through the applicable vesting date.
F2	Consists of performance-based RSUs. The RSUs underlying this grant shall vest as follows: (i) one-third shall vest upon the achievement of a price for the Common Stock equal to or exceeding $2.00 per share, (ii) one-third shall vest upon the achievement of a price for the Common Stock equal to or exceeding $3.00 per share and (iii) one-third shall vest upon the achievement of a price for the Common Stock equal to or exceeding $4.00 per share. In each case, the closing stock price for 20 consecutive trading days must equal or exceed the share price targets, provided such share price is achieved prior to September 3, 2029, subject to the Reporting Person's continued service through the applicable vesting date.

Content

Consists of restricted stock units ("RSUs"). Each RSU represents the right to receive one share of Class A Common Stock ("Common Stock") upon vesting. One-third of the RSUs underlying this grant vest on September 3, 2025, and the remainder shall vest on a pro rata annual basis over the next two years, subject to the Reporting Person's continued service through the applicable vesting date.

Consists of performance-based RSUs. The RSUs underlying this grant shall vest as follows: (i) one-third shall vest upon the achievement of a price for the Common Stock equal to or exceeding $2.00 per share, (ii) one-third shall vest upon the achievement of a price for the Common Stock equal to or exceeding $3.00 per share and (iii) one-third shall vest upon the achievement of a price for the Common Stock equal to or exceeding $4.00 per share. In each case, the closing stock price for 20 consecutive trading days must equal or exceed the share price targets, provided such share price is achieved prior to September 3, 2029, subject to the Reporting Person's continued service through the applicable vesting date.