Founder Jonathan Rothberg Unloads $29.3M of Butterfly Network Stock via 10b5-1 Plan
BFLY has more than doubled off its 52-week low of $1.32.
Summary
Butterfly Network founder Jonathan Rothberg sold $29.3 million worth of shares over three days in mid-July, adding to a pattern of insider selling at the medical imaging company.
Key Events · Ownership and Investor Activity · BFLY
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Founder Sells $29.3M in Stock
Jonathan Rothberg sold 4,013,452 shares (Class A and converted Class B) between July 14 and 16, 2026, at weighted average prices ranging from $7.09 to $7.72, for total proceeds of approximately $29.3 million.
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Sales Under Pre-Existing 10b5-1 Plan
The transactions were executed under a Rule 10b5-1 trading plan adopted on March 13, 2026, indicating the sales were pre-scheduled rather than a reaction to recent events.
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Continuing Insider Selling Trend
This sale adds to a 90-day insider selling pattern totaling $5.8 million from five other insiders, reinforcing a distribution signal from company leadership.
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Class B Conversion Reduces Voting Power
The sale included 1,213,634 Class B shares, which automatically converted to Class A upon sale, slightly reducing Rothberg's super-voting control but leaving him with 100% of remaining Class B shares.
Analysis · BFLY · Industrial Applications And Services
Between July 14 and 16, 2026, founder Jonathan Rothberg sold over 4 million shares for roughly $29.3 million under a pre-arranged 10b5-1 trading plan. Although the plan was established in March, the sheer size of the sale—executed at prices ranging from $7.09 to $7.72—carries weight, particularly given the backdrop of heavy insider selling over the past 90 days totaling nearly $5.8 million. Rothberg's transactions alone represent about 1.7% of the company's market cap, amplifying the distribution signal from other officers. The filing also reveals a complex ownership structure through multiple LLCs, with Rothberg controlling 100% of the Class B shares, which carry super-voting rights. The conversion and sale of Class B shares reduces his voting power, though he remains the dominant shareholder.
At the time of this filing, BFLY was trading at $6.65 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $1.32 to $9.69. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.