Form 4: SI-BONE Executive Anthony Recupero Awarded Restricted Stock Units

Anthony Recupero, President of Commercial Operations at SI-BONE, Inc., was granted restricted stock units (RSUs) that will vest over time based on continued service and company performance.

Summary

• Anthony Recupero, President of Commercial Operations at SI-BONE, Inc., received restricted stock units (RSUs) on February 3, 2025.
• 55,937 RSUs will vest over four years beginning February 15, 2025, in quarterly installments, contingent upon continued service.
• An additional 18,646 RSUs will vest over three years based on SI-BONE's total shareholder return (TSR) compared to a peer group.
• Following these transactions, Recupero beneficially owns 297,397 shares, including 197,488 shares issuable on the settlement of previous RSU grants.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects standard executive compensation practices, aligning management interests with shareholders. The vesting conditions based on TSR suggest a focus on performance.

Positives

• The grant of RSUs aligns executive compensation with the company's long-term performance and shareholder value.
• The vesting schedule encourages continued service and commitment from the executive.

Risks

• The value of the RSUs is dependent on the future performance of SI-BONE's stock.
• Failure to meet the TSR targets could result in the forfeiture of some or all of the performance-based RSUs.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedules of the RSUs.

Industry Context

Granting stock-based compensation is a common practice in the industry to incentivize executives and align their interests with those of shareholders. The use of TSR-based vesting is also a common method to tie compensation to company performance relative to peers.

Comparison to Industry Standards

• Many companies in the medical device industry, such as Medtronic, Stryker, and Zimmer Biomet, utilize similar equity-based compensation plans for their executives.
• The vesting schedules and performance metrics (like TSR) are generally in line with industry standards for executive compensation.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns executive compensation with company performance.
• Employees may see it as a positive sign of investment in leadership.

Key Dates

Keywords

SI-BONE, Anthony Recupero, restricted stock units, RSUs, beneficial ownership, Form 4, executive compensation, total shareholder return, TSR, vesting