Form 4: SI-BONE Director Sells Shares for Tax Obligations

SI-BONE, Inc. Director Jeffrey W. Dunn sold 293 shares of common stock to cover tax withholding obligations related to restricted stock unit vesting.

Summary

• Jeffrey W. Dunn, a Director of SI-BONE, Inc. (SIBN), sold 293 shares of common stock.
• The transaction occurred on August 4, 2025, at a weighted average price of $17.3743 per share, with prices ranging from $17.36 to $17.39.
• The sale was non-discretionary, executed solely to cover tax withholding obligations arising from the vesting of restricted stock units.
• Following the transaction, Mr. Dunn directly beneficially owns 11,647 shares, which includes 11,124 shares issuable from restricted stock units.
• Additionally, 117,827 shares are indirectly beneficially owned through The Jeffrey W. Dunn Living Trust Dated May 17, 2012.

Sentiment

Score: 5

Explanation: The transaction is a routine 'sell to cover' for tax obligations, which is a neutral event and does not reflect a discretionary decision by the insider regarding the company's prospects.

Positives

• The transaction was non-discretionary, indicating it was not a voluntary sale based on a negative outlook.
• It fulfills tax obligations related to compensation, a routine event for executives receiving equity.

Negatives

• A minor reduction in direct beneficial ownership, though for a specific, non-discretionary purpose.

Future Outlook

This filing does not contain any forward-looking statements or guidance.

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.

Industry Context

This filing is a routine insider transaction (Form 4) for tax purposes and does not provide broader industry context or trends. It is specific to an individual's compensation-related stock activity at SI-BONE, Inc.

Comparison to Industry Standards

• This is a standard 'sell to cover' transaction, common across all industries for executives receiving equity compensation. There are no specific comparable companies, projects, or results mentioned in the filing to assess against industry benchmarks.

Stakeholder Impact

• Shareholders: Minimal impact as it's a small, non-discretionary sale for tax purposes, not indicative of a change in confidence.
• Employees: No direct impact mentioned.
• Customers/Suppliers/Creditors: No direct impact mentioned.

Key Dates

Recommendation

This Form 4 filing details a non-discretionary 'sell to cover' transaction by a director to satisfy tax obligations on vested restricted stock units. Such transactions are routine and do not typically signal a change in the company's fundamentals or the insider's confidence. Therefore, it provides no new information that would warrant a change in investment recommendation. The stock should be held based on existing fundamental analysis, as this specific filing is neutral.

Keywords

SI-BONE, SIBN, Form 4, Insider Trading, Stock Sale, Restricted Stock Units, Tax Withholding, Jeffrey W. Dunn, Director