Form 4: SI-BONE Executive Anthony Recupero Sells Shares to Cover Tax Obligations

Anthony Recupero, President of Commercial Operations at SI-BONE, Inc., sold shares of common stock to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• On July 2nd and 3rd, 2024, Anthony J. Recupero, President of Commercial Operations at SI-BONE, Inc., sold shares of the company's common stock.
• The sales were executed in multiple transactions at varying prices, with weighted average sale prices of $12.9382, $12.901, and $13.0511 per share.
• A total of 1,753, 1,556, and 920 shares were sold on the respective dates.
• These sales were conducted to cover tax withholding obligations associated with the vesting of restricted stock units and were partially executed pursuant to a 10b5-1 trading plan.
• Following these transactions, Recupero still beneficially owns 242,709 shares of SI-BONE common stock, including 152,619 shares issuable on settlement of restricted stock units.

Sentiment

Score: 6

Explanation: The document is a routine SEC Form 4 filing, indicating stock sales for tax obligations. It doesn't inherently convey positive or negative sentiment, but it's a neutral event in the context of executive compensation.

Positives

• The sales were conducted to cover tax obligations related to vesting restricted stock units, which is a common practice.
• Part of the sales were executed under a pre-arranged 10b5-1 trading plan, indicating the transactions were planned in advance and not based on immediate market conditions.

Industry Context

Insider sales are a common occurrence in publicly traded companies, especially when related to covering tax obligations from vesting equity. The use of a 10b5-1 trading plan is a standard practice to avoid accusations of trading on inside information.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a routine part of compensation in publicly traded companies like SI-BONE.
• Companies such as Medtronic, Stryker, and Zimmer Biomet, which are larger players in the medical device industry, also see similar patterns of executive stock transactions related to equity compensation and tax liabilities.
• The use of 10b5-1 trading plans is a common practice among executives in these companies to ensure compliance with insider trading regulations.

Stakeholder Impact

• The stock sales may have a minor, temporary impact on the stock price, but are unlikely to significantly affect long-term shareholder value.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates