SI-BONE, Inc. 8-K

What Happened

• SI‑BONE, Inc. filed a Form 8‑K on Feb. 23, 2026 reporting three material items: (1) a lease for new premises in San Jose, California; (2) a press release with results for the quarter and year ended Dec. 31, 2025; and (3) the appointment of CFO Anshul Maheshwari as Chief Operating Officer effective Feb. 22, 2026.
• The Lease with Orchard Commons, LLC covers approximately 50,485 sq ft at 88 West Plumeria Drive. The lease term begins on the earlier of Oct. 1, 2026 or the Company’s occupancy date and runs for 102 months from commencement, with one five‑year extension option. SI‑BONE will issue a press release on its FY2025 results (attached as Exhibit 99.1 to the 8‑K).

Key Details

• Premises: ~50,485 sq ft at 88 West Plumeria Dr., San Jose; option to lease an additional contiguous ~28,531 sq ft if available.
• Lease term: starts by Oct. 1, 2026 (or upon occupancy) and lasts 102 months; one 5‑year extension option.
• Rent and costs: starting base rent $128,737/month (first year), increasing ~3% annually; tenant pays pro rata operating expenses and a security deposit of $163,067.
• Tenant concessions: six months’ rent abatement, tenant improvement allowance $70/sq ft, and power upgrade allowance $5/sq ft.
• Executive change: Anshul Maheshwari (age 46), CFO since April 2021, also appointed COO effective Feb. 22, 2026; no reportable related‑party arrangements or transactions disclosed.

Why It Matters

• The lease signals planned expansion of SI‑BONE’s physical footprint in San Jose, which could support increased manufacturing, R&D or commercial operations; the TI and power allowances reduce upfront capital burden for build‑out. The monthly rent and operating expense obligations will affect future occupancy costs and cash flow once the lease commences.
• The company’s Feb. 23 press release on results for the quarter and year ended Dec. 31, 2025 is material to investors — check the press release (Exhibit 99.1) for revenue, profit/loss and guidance details.
• Combining the CFO and COO roles may centralize financial and operational leadership, which could impact execution and reporting; the 8‑K notes no transactions or relationships requiring additional disclosure related to this appointment.