[144] Penumbra, Inc. SEC Filing

Rhea-AI Filing Summary

Penumbra, Inc. (PEN) Form 144 notice: An insider intends to sell 15,900 shares of Penumbra common stock through Morgan Stanley Smith Barney on 08/20/2025, with an aggregate market value of $4,046,988.84. The shares were acquired the same day via a stock option exercise and paid in cash. The filing lists prior insider sales by the same person, ADAM ELSESSER, totaling six transactions from 05/28/2025 to 08/06/2025, selling between 15,885 and 16,300 shares per trade and generating gross proceeds ranging from $3.77M to $4.37M.

The filer certifies no undisclosed material adverse information. The document is a routine Rule 144 notice describing proposed sale details, acquisition method, broker, and recent insider sales; it does not include company financial results or commentary.

Positive

• Full disclosure of planned sale with broker, share count, value, and acquisition method
• Insider attestation states no undisclosed material adverse information
• Sales executed through a major broker (Morgan Stanley Smith Barney), indicating orderly market handling

Negative

• Insider is selling multiple times over recent months (six transactions listed), which could be viewed as repeated liquidity events
• Large aggregate proceeds from recent sales (each trade in the $3.77M–$4.37M range) represent meaningful insider dispositions

Insights

Securities Analyst

TL;DR: Routine insider sale after option exercise; transparency maintained via Form 144.

The notice documents a planned sale of 15,900 shares valued at $4.05M following a same-day option exercise and cash payment, executed through Morgan Stanley Smith Barney. Recent prior sales by the same insider across six dates show systematic dispositions totaling roughly 97,265 shares over the listed period, generating sizeable gross proceeds each time. From a market impact perspective, these are individual insider liquidity transactions rather than corporate actions or disclosures affecting fundamentals. The filing fulfills Rule 144 requirements and includes the required representation about material non-public information.

Corporate Governance Expert

TL;DR: Compliance-focused filing; indicates insider liquidity but no governance issues disclosed.

The Form 144 provides the broker, share counts, dates, acquisition method, and payment method, showing adherence to disclosure rules for proposed sales by affiliates. The insider attests to lack of undisclosed material adverse information and notes the securities were acquired via option exercise. There is no indication of accelerated or unusual timing tied to corporate events in this notice. As presented, this is a routine disclosure consistent with governance and securities-law compliance.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	15900	4046988.84	38999129	08/20/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/20/2025	Stock Option Exercise	ISSUER			15900	08/20/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
ADAM ELSESSER One Penumbra Place Alameda CA 94502	Common	08/06/2025	16030	3818397.30
ADAM ELSESSER One Penumbra Place Alameda CA 94502	Common	07/23/2025	16150	3765609.91
ADAM ELSESSER One Penumbra Place Alameda CA 94502	Common	07/09/2025	15985	3896329.36
ADAM ELSESSER One Penumbra Place Alameda CA 94502	Common	06/25/2025	15890	4026584.79
ADAM ELSESSER One Penumbra Place Alameda CA 94502	Common	06/11/2025	15910	4035902.43
ADAM ELSESSER One Penumbra Place Alameda CA 94502	Common	05/28/2025	16300	4366915.07

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Penumbra's (PEN) Form 144 filed by ADAM ELSESSER disclose?

The filing discloses a proposed sale of 15,900 common shares on 08/20/2025 through Morgan Stanley Smith Barney, valued at $4,046,988.84, acquired via a stock option exercise on the same date and paid in cash.

How many shares has ADAM ELSESSER sold recently according to the filing?

The filing lists six prior sales from 05/28/2025 to 08/06/2025, each selling between 15,885 and 16,300 shares per transaction.

Who is the broker handling the proposed sale in the Form 144?

The proposed sale is to be handled by Morgan Stanley Smith Barney LLC, Executive Financial Services, New York.

Were the securities to be sold acquired recently or long ago?

The securities to be sold were acquired on 08/20/2025 via a stock option exercise, per the filing.

Does the Form 144 indicate any undisclosed material information about Penumbra?

No. The signer represents they do not know of any material adverse information regarding the issuer that has not been publicly disclosed.