Form 4: SI-BONE CEO Sells Shares for Tax, 10b5-1 Plan

SI-BONE, Inc. CEO Laura Francis reported the sale of 16,752 shares of common stock in pre-planned transactions to cover tax obligations and under a 10b5-1 trading plan.

Summary

• Laura Francis, Chief Executive Officer and Director of SI-BONE, Inc. (SIBN), reported the sale of a total of 16,752 shares of the company's common stock across two separate transaction dates.
• On November 17, 2025, a total of 11,341 shares were sold in multiple trades at weighted average prices ranging from $17.3996 to $17.4449 per share.
• These sales on November 17, 2025, were non-discretionary 'sell to cover' transactions, executed to satisfy tax withholding obligations associated with the vesting of restricted stock units.
• On November 18, 2025, an additional 5,411 shares were sold at a weighted average price of $17.6978 per share.
• This latter sale was conducted pursuant to a Rule 10b5-1 trading plan that was established on December 13, 2024.
• Following these transactions, Laura Francis directly holds 408,363 shares, which includes 373,980 shares issuable upon the settlement of restricted stock units.
• Additionally, Laura Francis indirectly holds 351,319 shares through The David & Laura Joint Rev Tr.

Sentiment

Score: 5

Explanation: The filing reports routine, non-discretionary insider stock sales for tax obligations and a pre-planned 10b5-1 trading plan. These transactions are common for executives and do not indicate any particular positive or negative sentiment regarding the company's performance or outlook.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• 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.
• The sale reported on this Form 4 was effected pursuant to a 10b5-1 trading plan dated December 13th, 2024.

Industry Context

This Form 4 filing details routine insider transactions and does not provide information relevant to broader industry trends or competitive landscape analysis.

Stakeholder Impact

• Shareholders: Minimal impact, as these are routine, pre-planned insider sales that do not signal a change in company fundamentals or management's confidence beyond standard compensation practices.
• Employees, Customers, Suppliers, Creditors: No direct impact from this filing.

Key Dates

Recommendation

This Form 4 filing details routine insider stock sales by the CEO, Laura Francis, primarily to cover tax obligations related to RSU vesting and through a pre-established 10b5-1 trading plan. Such transactions are common and expected for executives and do not typically reflect a change in the company's fundamental outlook or the executive's long-term confidence. Therefore, this filing alone does not provide a basis for a 'buy' or 'sell' recommendation, and a 'hold' stance is appropriate, pending further fundamental analysis of SI-BONE, Inc.

Keywords

SI-BONE, SIBN, Laura Francis, Insider Trading, Form 4, Stock Sale, CEO, Restricted Stock Units, RSU, 10b5-1 Plan, Tax Withholding