Officer Steven Cashman Files Intent to Sell $520K in Shares, Continuing Insider Distribution
Summary
An officer at Butterfly Network has filed to sell over $520,000 worth of shares, continuing a pattern of insider selling that has seen over $1.7 million in dispositions by the same individual in the last three months.
Key Events
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Officer Files Intent to Sell Shares
Officer Steven Cashman filed a Form 144 to sell 104,781 shares of Class A common stock, valued at approximately $520,173.67.
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Continuation of Insider Selling Pattern
This proposed sale follows Cashman's previous dispositions of 347,518 shares totaling $1,768,633.76 over the last three months, indicating an ongoing pattern of insider distribution.
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Shares from Compensation
The shares intended for sale were acquired through restricted stock vesting on April 28, 2026, suggesting the sale is related to compensation.
Analysis
Officer Steven Cashman has filed a Form 144 indicating intent to sell 104,781 shares of Class A common stock, valued at approximately $520,173. This proposed sale continues a pattern of insider distribution, as Cashman has already sold $1.76 million worth of shares over the past three months. The shares intended for sale were acquired through restricted stock vesting, suggesting compensation-related selling rather than open-market purchases, but the consistent selling by an officer is a notable negative signal.
At the time of this filing, BFLY was trading at $4.54 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $1.32 to $5.72. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.