---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-094924"
form_type: "8-K"
ticker: "BFLY"
cik: "0001804176"
company_name: "Butterfly Network, Inc."
filed_at: "2021-07-22T23:59:59+00:00"
generated_at: "2026-06-30T03:23:45.836547+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Butterfly Network enters employment agreement with CEO Todd Fruchterman

## Summary
- Dr. Todd Fruchterman appointed CEO effective Feb 1, 2021, with annual base salary of $750,000.
- Receives $1M signing bonus and $1.583M net reimbursement bonus to repay prior employer obligation.
- Equity grants: 1,557,450 options at $15.29 and 1,038,300 RSUs, plus $2.3M annual equity for 2021.
- Severance: if terminated without cause or resigns for good reason, receives 1 year salary + target bonus + equity vesting.
- Change-of-control severance: 2x salary plus bonus and full vesting of time-based equity awards.

## SEC filing metadata
- accession: 0001104659-21-094924
- form_type: 8-K
- ticker: BFLY
- cik: 0001804176
- company_name: Butterfly Network, Inc.
- filed_at: 2021-07-22T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1804176/000110465921094924/0001104659-21-094924-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1804176/000110465921094924/tm2123057d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-094924
- JSON: https://secwatch.observer/filing/0001104659-21-094924.json
- Plain text: https://secwatch.observer/filing/0001104659-21-094924.txt

## Key facts
- Executive change
  Todd M. Fruchterman, M.D., Ph.D. was appointed as Chief Executive Officer at Butterfly Network, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On July 20, 2021, Butterfly Network, Inc. (the “Company”), entered into an employment agreement (the “Employment Agreement”) with Todd M. Fruchterman, M.D., Ph.D., effective February 1, 2021
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804176/000110465921094924/0001104659-21-094924-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.