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  4. [Form 4] Penumbra, Inc. Insider Trading Activity

Penumbra EVP Adds 1,943 Shares; No Sales Reported

Filing Impact
(Neutral)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Penumbra, Inc. (PEN) – Form 4 insider transaction

Executive Vice President, General Counsel & Secretary Johanna Roberts reported the exercise of employee stock options on 25 June 2025 (transaction code M). She converted 1,943 stock-option units with an exercise price of $22.04 into an equal number of common shares. All options were already fully vested and would have expired on 11 Aug 2025.

Following the exercise, Roberts’ direct beneficial ownership increased to 66,657 PEN shares. No derivative securities remain outstanding from this grant, and the filing discloses no concurrent sale of the acquired shares.

The transaction was filed individually by the reporting person on 27 June 2025.

Positive

  • Increase in insider ownership: EVP Johanna Roberts added 1,943 shares, lifting her direct holdings to 66,657 shares and signaling personal equity commitment.

Negative

  • None.

Insights

TL;DR: Routine option exercise; small increase in insider ownership, no share sale – neutral signal.

The filing shows a standard option conversion (Code M) ahead of the 11 Aug 2025 expiry. Only 1,943 shares were involved, representing an immaterial fraction of Penumbra’s ~38 million shares outstanding. Because the executive retained the shares instead of selling into the market, the action can be read as a modest vote of confidence, yet the position change (<1% of her existing stake) is too small to materially affect float or signal fundamental change. No red flags such as automatic selling or 10b5-1 references appear. Overall market impact is expected to be negligible.

Insider Roberts Johanna
Role EVP, Gen. Counsel & Secretary
Type Security Shares Price Value
Exercise Stock Option (right to buy) 1,943 $0.00 --
Exercise Common Stock 1,943 $22.04 $43K
Holdings After Transaction: Stock Option (right to buy) — 0 shares (Direct); Common Stock — 66,657 shares (Direct)
Footnotes (1)
  1. A portion of these shares is subject to vesting. All shares are vested and exercisable.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Roberts Johanna
(Last) (First) (Middle)
ONE PENUMBRA PLACE
(Street)
ALAMEDA CA 94502
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Penumbra Inc [ PEN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, Gen. Counsel & Secretary
3. Date of Earliest Transaction (Month/Day/Year)
06/25/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/25/2025 M 1,943 A $22.04 66,657(1) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $22.04 06/25/2025 M 1,943 (2) 08/11/2025 Common Stock 1,943 $0 0 D
Explanation of Responses:
1. A portion of these shares is subject to vesting.
2. All shares are vested and exercisable.
Remarks:
/s/ Johanna Roberts 06/27/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

How many Penumbra (PEN) shares did Johanna Roberts acquire in the latest Form 4?

The executive acquired 1,943 common shares through an option exercise.

What was the exercise price of the Penumbra stock options?

The options were exercised at $22.04 per share.

Did the insider sell any Penumbra shares in this transaction?

No. The Form 4 indicates no sale; the shares were retained.

What is Johanna Roberts’ total direct ownership after the transaction?

Her direct beneficial ownership stands at 66,657 PEN shares.

When will the exercised option series have expired?

The options would have expired on 11 August 2025.