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

Rhea-AI Filing Summary

SI-BONE insider sale tied to RSU tax withholding: Laura A. Francis, who serves as both Chief Executive Officer and a director, reported multiple dispositions of her common stock to satisfy tax withholding on vested restricted stock units. The transactions on 08/18/2025 consisted of five grouped sales totaling 11,343 shares disposed at weighted-average prices in the roughly $15.52–$15.83 range, producing the reported per-trade weighted averages shown. After these transactions the filing shows Ms. Francis directly beneficially owns 419,704 shares and indirectly owns 362,141 shares through The David & Laura Joint Rev Tr., with 396,297 shares included as shares issuable upon settlement of RSUs.

Positive

• Insider ownership remains substantial: combined direct and indirect holdings indicate continued CEO alignment with shareholders
• Sale explicitly disclosed as sell-to-cover for RSU tax withholding, indicating the transactions were administrative rather than discretionary

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: CEO sold shares to cover RSU tax withholding; transaction is standard compensation-related activity and not a discretionary market signal.

The Form 4 discloses a series of sell-to-cover transactions tied to vesting restricted stock units, which is a common practice for executives to satisfy tax obligations. The disclosure identifies both direct and indirect holdings, including substantial trust-held shares, which maintains continuity of insider ownership. No new option grants, open-market discretionary purchases, or material changes in ownership percentage are reported that would suggest a governance or control shift.

Securities Analyst

TL;DR: Transactions are routine sell-to-cover of RSUs; they modestly reduce direct holdings but leave significant insider ownership intact.

The reported sales total 11,343 shares executed across multiple trades with reported weighted-average prices and are explicitly tied to tax withholding. Post-transaction direct and indirect holdings remain large (over 780,000 combined when adding direct and trust holdings), suggesting limited immediate impact on float or on investor perception of insider alignment. No derivative exercises, new grants, or other compensatory changes are disclosed on this Form 4.

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
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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^*

FRANCIS LAURA

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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	08/18/2025		S(1)		2,232	D	$15.6051(2)	428,815	D
Common Stock	08/18/2025		S(1)		2,029	D	$15.6175(3)	426,786	D
Common Stock	08/18/2025		S(1)		3,197	D	$15.5921(4)	423,589	D
Common Stock	08/18/2025		S(1)		3,885	D	$15.5916(5)	419,704(6)	D
Common Stock								362,141	I	by Trust(7)

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 $15.52 USD to $15.83 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 $15.50 USD to $15.80 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. This transaction was executed in multiple trades at prices ranging from $15.50 USD to $15.83 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.

5. This transaction was executed in multiple trades at prices ranging from $15.50 USD to $15.81 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.

6. Includes 396,297 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.

7. Shares held by The David & Laura Joint Rev Tr.

Remarks:

	/s/ Michael A. Pisetsky, Attorney-in-Fact for Laura A. Francis	08/20/2025
	** 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

Why did Laura A. Francis sell shares of SIBN?

The Form 4 states the sales were sell-to-cover transactions to satisfy tax withholding obligations related to vested restricted stock units.

How many SIBN shares did the reporting person sell?

The Form 4 reports five grouped dispositions totaling 11,343 shares sold.

What were the sale prices reported for the SIBN transactions?

Weighted-average prices reported for the grouped trades fall in the approximate range of $15.52 to $15.83 per share.

How many SIBN shares does Laura A. Francis beneficially own after the transactions?

Direct beneficial ownership reported at 419,704 shares; indirect ownership via The David & Laura Joint Rev Tr. reported at 362,141 shares.

Are any of the reported shares issuable upon settlement of RSUs?

Yes; the filing discloses 396,297 shares are issuable upon settlement of restricted stock units.