SI-BONE insider filing shows small tax-related sale by director

Rhea-AI Filing Summary

SI-BONE (SIBN) – Form 4 insider transaction

Director Jeffrey W. Dunn executed an automatic “sell-to-cover” on 08/04/2025 related to the vesting of restricted stock units. To satisfy tax-withholding, he sold 293 common shares at a weighted-average price of $17.3743 (price range $17.36-$17.39). The sale was executed under Rule 10b5-1 and is classified as code “S”, indicating a non-discretionary sale for tax purposes.

Post-transaction holdings are 11,647 shares held directly and 117,827 shares held indirectly via The Jeffrey W. Dunn Living Trust. The indirect total includes 11,124 un-settled RSUs. No derivative securities were reported.

The transaction represents less than 0.1% of Dunn’s aggregate ownership and does not signal a strategic shift or change in insider sentiment.

Insights

Securities Analyst

TL;DR: Routine 293-share sell-to-cover; negligible size, no strategic signal, neutral for investors.

The Form 4 discloses a small sale by Director Dunn solely to meet tax obligations on newly vested RSUs. The transaction’s scale is immaterial versus his 129k-share stake, and the filing specifies it was executed under a Rule 10b5-1 plan. Such sell-to-cover events are common and typically have no predictive value for future price performance. With no changes in derivative positions or board status, this filing is best categorized as administrative, exerting minimal informational value on SIBN’s investment thesis.

Corporate Governance Expert

TL;DR: Administrative compliance event; insider ownership essentially unchanged, impact neutral.

The director continues to hold over 129k shares, aligning interests with shareholders. The explicit disclosure of a Rule 10b5-1 plan supports transparency and reduces litigation risk. No red flags regarding timing or volume are evident. Investors should view this as routine governance maintenance rather than a signal of confidence or concern.

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^*

DUNN JEFFREY W

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025

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	08/04/2025		S(1)		293	D	$17.3743(2)	11,647(3)	D
Common Stock								117,827(4)	I	by Trust(5)

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 $17.36 USD to $17.39 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. Includes 11,124 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.

4. Reflects the transfer of shares from the Reporting Person to The Jeffrey W. Dunn Living Trust dated May 17, 2012.

5. Shares held by The Jeffrey W. Dunn Living Trust Dated May 17, 2012.

Remarks:

	/s/ Michael A. Pisetsky, Attorney-in-Fact for Jeffrey W. Dunn	08/06/2025
	** 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

How many SI-BONE (SIBN) shares did Director Jeffrey W. Dunn sell on 08/04/2025?

He sold 293 shares of common stock.

What was the average sale price for the SIBN shares sold?

The weighted-average price was $17.3743, within a $17.36-$17.39 range.

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

The sale was a “sell-to-cover” transaction to cover tax withholding on vested RSUs, not a discretionary trade.

How many SI-BONE shares does Jeffrey W. Dunn own after the transaction?

He holds 11,647 shares directly and 117,827 shares indirectly through his trust.

Was the sale conducted under a Rule 10b5-1 trading plan?

Yes. The filing indicates the transaction satisfied Rule 10b5-1(c) affirmative-defense conditions.