Brown Advisory Amends SI-BONE Stake, Maintains Passive Investment

TL;DR

**Brown Advisory updated its SI-BONE stake, confirming continued passive ownership.**

AI Summary

Brown Advisory Incorporated, a Maryland corporation, filed an amended Schedule 13G/A on February 9, 2024, indicating its ownership of SI-BONE, Inc. (ticker: SIBN) shares as of December 31, 2023. This filing updates previous disclosures, confirming Brown Advisory's continued passive investment in SI-BONE. For investors, this means a significant institutional investor maintains its position, which can signal confidence in the company's long-term prospects, potentially influencing stock stability.

Why It Matters

This filing shows a major institutional investor, Brown Advisory, is still holding shares in SI-BONE, Inc., which can be a positive signal for current and prospective shareholders.

Risk Assessment

Risk Level: low — This is a routine amendment by an institutional investor, indicating a passive stake and not suggesting any immediate negative or highly volatile changes.

Analyst Insight

A smart investor would note Brown Advisory's continued passive stake in SI-BONE, Inc. as a sign of ongoing institutional interest, but would still conduct their own due diligence on SI-BONE's fundamentals before making any investment decisions.

Key Players & Entities

• Brown Advisory Incorporated (company) — the reporting person and institutional investor
• SI-BONE, Inc. (company) — the subject company whose securities are being reported
• Maryland (place) — state of incorporation for Brown Advisory Incorporated
• December 31, 2023 (date) — the date of the event requiring the filing
• February 9, 2024 (date) — the filing date of the SC 13G/A

FAQ

Filing Documents

• sibna3.htm (SC 13G/A) — 40KB
• 0001085146-24-000970.txt ( ) — 42KB

(a)

ITEM 1(a). NAME OF ISSUER: SI-BONE, Inc.

(b)

ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 471 El Camino Real Suite 101 Santa Clara, CA 95050

(a)

ITEM 2(a). NAME OF PERSON FILING: Brown Advisory Incorporated ("BAI") Brown Investment Advisory & Trust Company ("BIATC") Brown Advisory Incorporated ("BAI")

(b)

ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 901 South Bond Street, Suite #400 Baltimore, Maryland 21231

(c)

ITEM 2(c). CITIZENSHIP: Brown Advisory Incorporated is a Maryland Corporation. Brown Investment Advisory & Trust Company is a Maryland Trust Company. Brown Advisory Incorporated is a Maryland Corporation.

(d)

ITEM 2(d). TITLE OF CLASS OF SECURITIES:

(e)

ITEM 2(e). CUSIP NUMBER: 825704109 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [X] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) [X] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: Brown Advisory Incorporated ("BAI") is a parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G) Brown Investment Advisory & Trust Company ("BIATC") is a bank as defined in Section 3(a)(6) of the Act (15U.S.C.78c) Brown Advisory LLC ("BALLC") is an investment adviser in accordance with 240.13d-1(b)(1)(ii)(E) ITEM 4. OWNERSHIP (a) Amount beneficially owned: 3,695,421 (b) Percent of class: 10.9% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: Brown Advisory Incorporated ("BAI") - 3,591,084 Brown Investment Advisory &