Sign in

    Joseph DeVivo

    Chief Executive Officer and Chairperson of the Board of Directors at Butterfly Network
    Board
    Since April 24, 2023
    Age
    58 years
    Education
    Holds a Bachelor of Science degree in Business Administration, Marketing, and Management from the University of Richmond.
    Tenure
    Joined Butterfly Network, Inc. in April 2023 as Chief Executive Officer and Chairperson of the Board of Directors.

    Also at Butterfly Network

    AGS
    Andrei G. Stoica
    Chief Technology Officer
    HCG
    Heather C. Getz
    Chief Financial & Operations Officer and Corporate Secretary
    SC
    Steven Cashman
    Chief Business Officer

    About

    Joseph DeVivo is a seasoned executive with extensive experience in healthcare and medical technology, currently serving as the Chief Executive Officer and Chairperson of the Board of Directors at Butterfly Network, Inc. since April 2023.

    With a professional background that includes leadership roles at Teladoc Health, InTouch Health, and Angiodynamics Inc., he has demonstrated a proven track record in driving strategic initiatives and operational excellence.

    He holds a Bachelor of Science degree in Business Administration, Marketing, and Management from the University of Richmond, which laid the foundation for his varied executive career.

    Beyond his role at Butterfly Network, Inc., DeVivo contributes to several industry organizations and boards, reflecting his deep commitment to advancing healthcare technology and innovation.

    $BFLY Performance Under Joseph DeVivo

    Past Roles

    OrganizationRoleDate RangeDetails
    Teladoc Health, Inc. (NYSE: TDOC) President of Hospital and Health Systems July 2020 to April 2022 N/A
    InTouch Health Chief Executive Officer and Director 2016 until June 2020 N/A
    Angiodynamics Inc. President, Chief Executive Officer, and Director 2011 to 2016 N/A
    Caption Health Executive Chairman of the board of directors Prior to acquisition by GE Healthcare N/A

    External Roles

    OrganizationRoleDate RangeDetails
    Quantum Surgical Member of the Board of Directors N/AN/A
    American Telemedicine Association Treasurer on the board of directors N/AN/A

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$875,000 Annual2024 base salary
    RSUs – April 24, 2023800,000 shares, $2,496,000 market value Vest as 33% on April 24, 2023; remaining in 2 equal annual installmentsGranted on April 24, 2023
    RSUs – March 6, 20241,930,147 shares, $6,022,059 market value Vesting details as per grant termsGranted on March 6, 2024
    Additional RSUs – March 6, 2024965,074 shares, $3,011,031 market value Vesting details as per grant termsGranted on March 6, 2024
    Other Compensation$7,641 AnnualIncludes $910 cell phone reimbursements and $6,731 401(k) plan employer match

    Performance Compensation

    Data from  FY 2024

    Annual Cash Bonus

    MetricValueDetails
    Base Salary$875,000 Used to calculate bonus target
    Target Bonus Opportunity125% of Base (i.e., $1,093,750) Based on annual base salary
    Annual Cash Incentive Earned$1,367,000 Achieved payout at 125% of target

    Annual Bonus Performance Metrics

    MetricValueDetails
    Revenue Actual$82 million 60% weight; resulted in 75% weighted payout
    EBITDA Actual$(38) million 20% weight; resulted in 30% weighted payout
    Regulatory Milestone0% payout 5% weight; not achieved
    Butterfly Garden Milestone0% payout 5% weight; not achieved
    Services/Home Milestone10% payout 5% weight; achieved
    Product Milestone10% payout 5% weight; achieved
    Total Weighted Payout125% Overall bonus outcome

    Performance Stock Units (PSUs) – April 24, 2023

    MetricDetailAdditional Information
    Vesting Threshold 1$3.00 per share (33%) 20 consecutive trading days closing price requirement; vest prior to April 24, 2028
    Vesting Threshold 2$4.50 per share (33%) Same conditions apply
    Vesting Threshold 3$6.00 per share (33%) Same conditions apply
    Grant DateApril 24, 2023 Vesting contingent on continued service
    Grant Date Fair Value$3,333,333 Calculated via Monte Carlo simulation

    Performance Stock Units (PSUs) – March 6, 2024

    MetricDetailAdditional Information
    Vesting Threshold 1$3.00 per share (33%) 20 consecutive trading days requirement; vest within 5 years
    Vesting Threshold 2$4.50 per share (33%) Same conditions apply
    Vesting Threshold 3$6.00 per share (33%) Same conditions apply
    Grant DateMarch 6, 2024 Vesting contingent on continued service
    Grant Date Fair Value$3,328,001 As determined on the grant date
    Market Value as of Dec 31, 2024$6,022,059 Based on a closing price of $3.12 per share