Form 4: SI-BONE CFO Sells Shares Under 10b5-1 Plan

Sentiment:

Insider Transaction Report 19 December 2025 5:24 PM

SI-BONE's Chief Financial Officer, Anshul Maheshwari, sold 18,542 shares of common stock for approximately $20.15 per share under a pre-arranged trading plan.

Summary

Anshul Maheshwari, SI-BONE, Inc.'s Chief Financial Officer, reported a sale of common stock.
The transaction involved 18,542 shares of SI-BONE common stock.
The shares were sold at a weighted-average price of $20.1456 per share.
The sales occurred in multiple transactions ranging from $20.00 to $20.25, inclusive.
The total value of the shares sold is approximately $373,500.
The sale was executed on December 18, 2025.
This transaction was conducted pursuant to a Rule 10b5-1 trading plan established on December 17, 2025.
Following the reported transaction, Anshul Maheshwari beneficially owns 185,231 shares of common stock, which includes 143,116 shares issuable upon settlement of restricted stock units.

Sentiment

Score: 6

Explanation: The sale is a routine insider transaction under a 10b5-1 plan, which is generally considered neutral to slightly negative. The pre-scheduled nature mitigates any strong negative sentiment.

Positives

The sale was conducted under a pre-arranged 10b5-1 trading plan, indicating it was scheduled in advance and not based on immediate, non-public information.

Negatives

An insider sale, even under a 10b5-1 plan, reduces the officer's direct equity stake in the company.

Risks

Potential for negative market perception if investors misinterpret the 10b5-1 sale as a lack of confidence, despite its pre-scheduled nature.

Future Outlook

Industry Context

Insider sales are a routine part of executive compensation and personal financial planning, often managed through 10b5-1 plans to avoid accusations of trading on material non-public information.

Corporate Governance

Change Type	Description	Effective Date	Impact Assessment
Power of Attorney Grant	Anshul Maheshwari granted power of attorney to specific individuals (Laura A. Francis, Michael A. Pisetsky, Matthew B. Hemington, and Kris Tamashiro) to execute and file Forms 3, 4, and 5 on his behalf.	04/19/2021	Streamlines compliance with Section 16(a) of the Securities Exchange Act of 1934 for the reporting person.

Stakeholder Impact

Shareholders: A minor reduction in direct insider ownership, but mitigated by the 10b5-1 plan.
Employees: No direct impact.
Customers: No direct impact.
Suppliers: No direct impact.
Creditors: No direct impact.

Key Dates

Date	Description
04/19/2021	Date Power of Attorney was executed by Anshul Maheshwari.
12/17/2025	Date the 10b5-1 trading plan was established.
12/18/2025	Date of the reported stock sale transaction.
12/19/2025	Date the Form 4 was signed.

Recommendation

hold

This Form 4 reports a routine insider sale executed under a pre-established 10b5-1 trading plan. Such transactions are typically for personal financial planning and do not inherently signal a change in the company's fundamental outlook or the insider's confidence. Therefore, this filing alone does not warrant a change in investment recommendation.

Keywords

SIBN, SI-BONE, Anshul Maheshwari, Form 4, insider trading, stock sale, 10b5-1 plan, CFO

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