[Form 4] SI-BONE, Inc. Insider Trading Activity

Rhea-AI Filing Summary

SI-BONE, Inc. (SIBN) Chief Financial Officer Anshul Maheshwari reported the sale of a total of 3,311 shares of common stock on 10/02/2025 to satisfy tax withholding tied to vesting restricted stock units. The transactions were executed as two separate sell-to-cover events at weighted-average prices of $14.2237 and $14.1711, respectively, with execution prices within the disclosed ranges.

After these sales, the reporting person beneficially owns 211,134 to 212,691 shares depending on line reporting, which includes 150,203 restricted stock units that remain subject to settlement. The filing indicates the sales were non-discretionary and intended solely to cover tax obligations rather than open-market trading decisions.

Positive

• Sale was a sell-to-cover for RSU tax withholding, indicating non-discretionary intent
• Reporting person retains significant economic exposure including 150,203 RSUs and >211,000 beneficial shares

Negative

• Insider disposed of 3,311 shares, which modestly reduces direct holdings
• Weighted-average sale prices reported in mid-$14 range, potentially signaling realized proceeds at current market levels

Insights

Corporate Governance Analyst

Routine tax-driven insider sale; retains significant stake.

The reported transactions show a sell-to-cover of 3,311 shares by the CFO on 10/02/2025 to satisfy tax withholding from RSU vesting. Such sales are common when equity grants vest and typically do not reflect a discretionary view on company prospects.

Retention of over 150,000 unvested RSUs and a beneficial holding above 211,000 shares suggests continued alignment with shareholders. Monitor future filings for any discretionary open-market sales or scheduled option exercises over the next 12 months.

Equity Markets Analyst

Small-volume insider sale at mid-teens price range; limited market impact.

The total sold volume (3,311 shares) and the reported weighted-average sale prices around $14.17–$14.22 represent a modest transaction relative to typical public-company float sizes. The filing discloses price ranges for the underlying trades and offers to provide trade-level detail if requested.

Because the sale is labeled as satisfying tax withholding, it is unlikely to be material to short-term liquidity or market valuation; investors may watch subsequent Form 4s for any change to trading pattern in the coming 12 months.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Maheshwari Anshul

(Last) (First) (Middle)

C/O SI-BONE, INC

471 EL CAMINO REAL, SUITE 101

(Street)

SANTA CLARA CA 95050

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SI-BONE, Inc. [ SIBN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/02/2025		S(1)		1,754	D	$14.2237(2)	212,691	D
Common Stock	10/02/2025		S(1)		1,557	D	$14.1711(3)	211,134(4)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sale reported on this Form 4 represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units. The sale satisfies the tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.

2. This transaction was executed in multiple trades at prices ranging from $14.105 USD to $14.34 USD; the price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. This transaction was executed in multiple trades at prices ranging from $14.065 USD to $14.30 USD; the price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. Includes 150,203 shares issuable on the settlement of restricted stock units granted to the Reporting Person. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.

Remarks:

	/s/ Michael Pisetsky, Attorney-in-Fact for Anshul Maheshwari	10/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did SI-BONE (SIBN) CFO Anshul Maheshwari sell on 10/02/2025?

The CFO sold a total of 3,311 shares of common stock in two sell-to-cover transactions on 10/02/2025 to satisfy tax withholding from RSU vesting.

Why were the shares sold according to the Form 4 filing for SIBN?

The filing states the sales were required to cover tax withholding obligations related to the vesting of restricted stock units and were not discretionary trades.

How many shares does the reporting person own after the transaction?

The filing reports beneficial ownership of between 211,134 and 212,691 shares after the transactions; the higher figure reflects a separate line of reporting.

How many restricted stock units remain outstanding for the CFO?

The filing discloses 150,203 restricted stock units that are issuable on settlement and are included in the reported beneficial ownership.

At what prices were the SIBN shares sold?

The transactions were executed in multiple trades with weighted-average prices of $14.2237 and $14.1711, within disclosed per-trade ranges.