These are routine tax-motivated sales tied to equity vesting, not conviction selling. However, the pattern of ongoing insider sales at BFLY (8 sells / $32M in 30 days) warrants monitoring for any acceleration. Watch for Form 4 filings to confirm actual execution and for any insider buying to offset the selling pattern.
Price Chart
Executive Summary
Two Butterfly Network insiders — Chairman Joseph Devivo and Officer John Doherty — filed Form 144 notices on July 20, 2026, indicating intent to sell 211,798 and 57,135 Class A shares respectively. The sales are described as covering tax obligations from vested equity awards, with combined proceeds estimated at ~$1.76M based on the filing's reference price. While these are routine tax-motivated sales tied to vesting, the batch filing on the same day by two top insiders adds modest weight to the ongoing insider selling pattern at BFLY (8 sells totaling $32M in the last 30 days).
Key Facts
- Chairman Joseph Devivo filed Form 144 to sell 211,798 Class A shares, estimated value ~$1.39M.
- Officer John Doherty filed Form 144 to sell 57,135 Class A shares, estimated value ~$374,794.
- Both sales are attributed to tax obligations from restricted stock vesting on July 17, 2026.
- Combined proposed sale value is approximately $1.76M, a small fraction of BFLY's $1.7B market cap.
- BFLY has seen 8 insider sells totaling $32M in the past 30 days, per market data.
Financial Impact
Combined ~$1.76M in proposed insider sales, representing ~0.1% of market cap
Risk Factors
- Continued insider selling could signal lack of confidence or create overhang
- Tax-motivated sales are routine but the cumulative pattern of 8 sells in 30 days is notable
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (BFLY) — Batch item 1 | 0001959173-26-005289 |
| Document: 0001959173-26-005289-index.html | 0001959173-26-005288 |
| Document: 0001959173-26-005289.txt | 0001959173-26-005289 |
| 144 Filing (BFLY) — Batch item 4 | 0001959173-26-005288 |
| Document: 0001959173-26-005288-index.html | 0001959173-26-005289 |
| Document: 0001959173-26-005288.txt | 0001959173-26-005289 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | 3 | $7.25 $7.47 | ▲ +3.03% | ▲ +2.61% | $7.38 (+1.79%) |
Oct 6, 2026 21d ago | 144 | $8.70 $8.27 | ▼ −4.94% | ▼ −4.70% | $7.38 (−15.17%) |
Oct 5, 2026 22d ago | 8-K | $9.38 $8.70 | ▼ −7.25% | ▼ −7.80% | $7.38 (−21.32%) |
Sep 23, 2026 4w ago | 144 | $9.41 $9.39 | ▼ −0.21% | ▼ −0.76% | $7.38 (−21.57%) |
Sep 22, 2026 5w ago | 144 | $9.20 $9.41 | ▲ +2.28% | ▲ +2.36% | $7.38 (−19.78%) |
Sep 9, 2026 6w ago | Insider Cluster | $7.12 $7.33 | ▲ +2.95% | ▲ +2.10% | $7.38 (+3.65%) |
Aug 17, 2026 10w ago | Insider Cluster | $9.00 $9.17 | ▼ −1.89% | ▼ −1.68% | $7.38 (+18.00%) |
Aug 17, 2026 10w ago | Insider Cluster | $9.00 $9.17 | ▼ −1.89% | ▼ −1.68% | $7.38 (+18.00%) |
Aug 15, 2026 10w ago | Institutional Cluster | $9.02 $9.00 | ▼ −0.22% | ▲ +0.45% | $7.38 (−18.18%) |
Aug 12, 2026 10w ago | Insider Cluster | $8.86 $8.84 | ▼ −0.23% | ▼ −0.03% | $7.38 (−16.70%) |
US Market Status
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