[SCHEDULE 13G/A] SI-BONE, Inc. SEC Filing

Rhea-AI Filing Summary

OrbiMed files Amendment No. 5 to a Schedule 13G/A reporting ownership in SI-BONE, Inc. (SIBN). OrbiMed Capital LLC reports beneficial ownership of 2,184,200 shares, representing 5.1% of SI-BONE's common stock, with sole voting and dispositive power over those shares. OrbiMed Advisors LLC reports beneficial ownership of 394,779 shares, representing 0.9%, with shared voting and dispositive power. Together the reporting persons hold 6.0% of the class on behalf of other persons and exercise investment and voting power through a management committee of three named members. The filing states the shares were acquired in the ordinary course of business and not for the purpose of changing control.

Positive

• Material ownership disclosure: OrbiMed Capital reports a 5.1% stake (2,184,200 shares), triggering investor notice.
• Aggregate stake disclosed: Combined OrbiMed entities hold 6.0% of SI-BONE common stock on behalf of others.
• Clear control delineation: OrbiMed Capital has sole voting and dispositive power over its shares while OrbiMed Advisors reports shared power, clarifying governance roles.
• Acquisition context: Filing states holdings were acquired in the ordinary course of business and not to change control.

Negative

• None.

Insights

Financial Analyst

TL;DR: OrbiMed Capital owns a material 5.1% stake in SIBN; combined OrbiMed entities hold 6.0%.

OrbiMed Capital's reported 2,184,200 shares (5.1%) meet the common regulatory threshold for disclosure and may attract investor attention because a >5% stake signals meaningful ownership without an expressed intent to change control. The split of sole versus shared voting/dispositive power is important: OrbiMed Capital retains sole control over its 5.1% position while OrbiMed Advisors holds a smaller, shared position. The aggregate disclosure clarifies control is exercised via a management committee of three named individuals, each disclaiming beneficial ownership. This is a routine, yet material, ownership disclosure that could influence shareholder monitoring or activist interest.

Corporate Governance Expert

TL;DR: Filing is a standard ownership disclosure with no expressed plan to alter SI-BONE's control or governance.

The Schedule 13G/A states the securities were acquired and are held in the ordinary course of business and not to change or influence control, which keeps this filing within passive/investment disclosure norms rather than an active 13D engagement. Disclosure of the management committee members and the disclaimer of beneficial ownership by those individuals provides useful governance transparency. No additional commitments, agreements, or group arrangements are reported that would indicate coordinated governance actions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

SI-BONE, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

825704109

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 825704109

1

Names of Reporting Persons

OrbiMed Capital LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,184,200.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,184,200.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,184,200.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 825704109

1

Names of Reporting Persons

OrbiMed Advisors LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 394,779.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 394,779.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

394,779.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SI-BONE, Inc.
(b)	Address of issuer's principal executive offices: 471 El Camino Real Suite 101 Santa Clara, CA 95050
Item 2.
(a)	Name of person filing: OrbiMed Capital LLC OrbiMed Advisors LLC
(b)	Address or principal business office or, if none, residence: 601 Lexington Avenue, 54th Floor New York, NY 10022
(c)	Citizenship: Please refer to Item 4 on each cover sheet for each filing person.
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 825704109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: OrbiMed Advisors LLC: 394,779 OrbiMed Capital LLC: 2,184,200
(b)	Percent of class: OrbiMed Advisors LLC: 0.9% OrbiMed Capital LLC: 5.1%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: OrbiMed Advisors LLC: 0 OrbiMed Capital LLC: 2,184,200
	(ii) Shared power to vote or to direct the vote: OrbiMed Advisors LLC: 394,779 OrbiMed Capital LLC: 0
	(iii) Sole power to dispose or to direct the disposition of: OrbiMed Advisors LLC: 0 OrbiMed Capital LLC: 2,184,200
	(iv) Shared power to dispose or to direct the disposition of: OrbiMed Advisors LLC: 394,779 OrbiMed Capital LLC: 0.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Reporting Persons hold 6.0% of the shares of Common Stock in the aggregate on behalf of other persons who have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, such securities. OrbiMed Advisors LLC and OrbiMed Capital LLC exercise investment and voting power over the shares of Common Stock through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares of Common Stock reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

OrbiMed Capital LLC

Signature:	/s/ Carl L. Gordon
Name/Title:	Carl L. Gordon / Member
Date:	08/14/2025

OrbiMed Advisors LLC

Signature:	/s/ Carl L. Gordon
Name/Title:	Carl L. Gordon / Member
Date:	08/14/2025

FAQ

How many SI-BONE (SIBN) shares does OrbiMed Capital LLC report owning?

OrbiMed Capital LLC reports beneficial ownership of 2,184,200 shares, representing 5.1% of SI-BONE's common stock.

What percentage of SI-BONE does OrbiMed Advisors LLC own according to this filing?

OrbiMed Advisors LLC reports beneficial ownership of 394,779 shares, representing 0.9% of the class.

What is the aggregate stake held by the reporting persons in SIBN?

The reporting persons hold an aggregate of 6.0% of SI-BONE common stock on behalf of other persons.

Does the filing indicate OrbiMed intends to change or influence control of SI-BONE?

No. The filing certifies the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control.

Who exercises voting power over the reported shares?

A management committee of Carl L. Gordon, Sven H. Borho, and W. Carter Neild exercises investment and voting power; the filing notes each disclaims beneficial ownership.