Founder Rothberg Adopts New 10b5-1 Plan to Sell Up to 8.4M Shares
BFLY has more than doubled off its 52-week low of $1.34.
Summary
Founder Jonathan Rothberg adopted a new 10b5-1 plan to sell up to 8.4 million shares, continuing a pattern of heavy insider selling at Butterfly Network.
Key Events · Ownership and Investor Activity · BFLY
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New 10b5-1 Plan Adopted
Rothberg and related entities adopted a Rule 10b5-1 plan on August 14, 2026, covering up to 363,348 Class A shares and 8,049,929 Class B shares, with sales ending November 12, 2027.
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Recent Sale Disclosed
On July 22, 2026, 659,913 Class B shares were sold at a weighted average price of $6.4698, automatically converting to Class A shares.
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Insider Selling Pattern
This follows $29.3M and $5.1M sales by Rothberg in mid-July and a $13.3M Form 144 by Director Larry Robbins on August 1, 2026.
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Estate Planning Purpose
The plan is stated to be for estate planning, with sales subject to minimum price and volume parameters, and no assurance that all shares will be sold.
Analysis · BFLY · Industrial Applications And Services
Jonathan Rothberg, Butterfly Network's founder, has adopted a new Rule 10b5-1 trading plan that could sell up to 363,348 Class A shares and 8,049,929 Class B shares through November 2027. This follows a series of large insider sales by Rothberg and other insiders over the past two months, adding to the overhang on the stock. The plan is for estate planning purposes and includes minimum price and volume parameters, but the sheer size of the potential sales—over 8.4 million shares—is significant relative to the company's float.
At the time of this filing, BFLY was trading at $9.34 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.4B. The 52-week trading range was $1.34 to $10.05. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.