Joseph Devivo - Apr 24, 2023 Form 4 Insider Report for Butterfly Network, Inc. (BFLY)

Role: President & CEO, Director
Signature: /s / Lawrence T. Weiss, Attorney-in-Fact for Joseph DeVivo
Stock symbol: BFLY
Transactions as of: Apr 24, 2023
Transactions value $: $0
Form type: 4
Date filed: 4/26/2023, 04:02 PM
Next filing: Sep 1, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BFLY	Class A Common Stock	Award	$0	+2.4M		$0.00	2.4M	Apr 24, 2023	Direct	F1
transaction	BFLY	Class A Common Stock	Award	$0	+1.6M	+66.67%	$0.00	4M	Apr 24, 2023	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 April 24, 2023, 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 $3.00 per share, (ii) one-third shall vest upon the achievement of a price for the Common Stock equal to or exceeding $4.50 per share and (iii) one-third shall vest upon the achievement of a price for the Common Stock equal to or exceeding $6.00 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 April 24, 2028, 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 April 24, 2023, 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 $3.00 per share, (ii) one-third shall vest upon the achievement of a price for the Common Stock equal to or exceeding $4.50 per share and (iii) one-third shall vest upon the achievement of a price for the Common Stock equal to or exceeding $6.00 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 April 24, 2028, subject to the Reporting Person's continued service through the applicable vesting date.