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

Rhea-AI Filing Summary

Anthony J. Recupero, President, Commercial Ops of SI-BONE, Inc. (SIBN), reported routine sales on 08/18/2025 to cover tax withholding arising from vested restricted stock units. The Form 4 shows two disposition entries totaling 3,833 shares sold (2,126 and 1,707 shares) at weighted-average prices of $15.627 and $15.6134, executed in multiple trades within price ranges noted in the footnotes. After the reported transactions, the filing shows 275,288 shares beneficially owned and discloses 147,947 shares issuable upon settlement of outstanding restricted stock units. The filing identifies the sales as "sell to cover" for tax obligations and not discretionary trading.

Positive

• Sales were identified as "sell to cover", indicating they were executed to satisfy tax withholding on vested RSUs rather than discretionary selling
• Filing discloses the number of shares issuable on outstanding RSUs (147,947), providing transparency on potential future dilution

Negative

• Reporting person reduced beneficial ownership by 3,833 shares through the reported dispositions on 08/18/2025

Insights

Corporate Governance Expert

TL;DR: Routine "sell to cover" sales by an officer to satisfy tax withholdings; no indication of strategic divestiture.

The Form 4 documents non-discretionary dispositions totaling 3,833 shares executed to satisfy tax withholding on vested restricted stock units. Such transactions are customary when equity-based awards vest and are typically pre-authorized by company plans or executed as automatic sell-to-cover transactions. The filing discloses the number of shares issuable on outstanding RSUs (147,947), which is helpful for assessing future dilution. No additional governance concerns or extraordinary insider activity are evident from this filing.

Securities Analyst

TL;DR: Insider sold a small number of shares at ~$15.61 per share to cover taxes; impact on ownership and float is immaterial.

The reported weighted-average sale prices fall in the mid-$15 range and the total shares sold (3,833) represent a minor reduction relative to the officer's remaining holdings (275,288 reported). Transactions are described as non-discretionary sell-to-cover trades tied to RSU vesting, suggesting these sales are administrative rather than a signal about company prospects. The footnotes document execution across multiple trade prices and commit to provide detailed trade-level data if requested.

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

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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^*

RECUPERO ANTHONY J

(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)
	President, Commercial Ops

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)		2,126	D	$15.627(2)	276,995	D
Common Stock	08/18/2025		S(1)		1,707	D	$15.6134(3)	275,288(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 $15.49 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.

3. This transaction was executed in multiple trades at prices ranging from $15.49 USD to $15.78 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 147,947 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 A. Pisetsky, Attorney-in-Fact for Anthony J. Recupero	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.
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FAQ

What transactions did Anthony J. Recupero report on Form 4 for SIBN?

The Form 4 reports two dispositions on 08/18/2025 totaling 3,833 shares sold as "sell to cover" to satisfy tax withholding.

At what prices were the SIBN shares sold in the Form 4?

The sales were executed in multiple trades with weighted-average prices of $15.627 and $15.6134; trade prices ranged roughly from $15.49 to $15.80 as noted in the footnotes.

How many SIBN shares does the reporting person beneficially own after the transactions?

The filing shows 275,288 shares beneficially owned following the reported transactions.

Does the Form 4 show any unvested awards for the reporting person?

Yes, the Form 4 states 147,947 shares are issuable on settlement of restricted stock units granted to the reporting person.

Were these sales discretionary trades by the officer?

No; the filing explicitly states the sales were required to cover tax withholding obligations related to RSU vesting and not discretionary trades.