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

PEN Insiders: Johanna Roberts Disposes of 600 Shares Under Trading Plan

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Penumbra Inc. (PEN) insider sale by EVP, General Counsel & Secretary Johanna Roberts. The Form 4 shows Ms. Roberts sold a total of 600 shares on 09/02/2025 under a Rule 10b5-1 trading plan in multiple trades across five tranches. Reported weighted-average prices per tranche ranged from $269.20 to $273.12, and the share count reported after the sales declined from 65,235 to 64,857. The filing notes portions of the shares remain subject to vesting and the reporting person will provide detailed trade-by-trade pricing on request.

Positive

  • Sales executed under a Rule 10b5-1 plan, indicating pre-arranged transactions
  • Detailed weighted-average prices are disclosed and the filer offers to provide trade-level details on request
  • No derivative securities were reported in Table II

Negative

  • Reporting person sold 600 shares, reducing beneficial ownership from 65,235 to 64,857 shares
  • Some shares remain subject to vesting, indicating not all holdings are freely tradable

Insights

TL;DR: Routine insider sale executed under a 10b5-1 plan; modest reduction in holdings, no new derivative activity.

The reporting person, an executive officer, effected disposals of 600 common shares on a single date under an established Rule 10b5-1 plan. Transactions were disclosed as multiple trades with tranche-level weighted-average prices provided. Post-transaction beneficial ownership decreased to 64,857 shares. There are no derivative transactions reported and portions of the shares are subject to vesting. Impact appears routine and informational for investors monitoring insider activity.

TL;DR: Insider followed a documented trading plan; filing contains standard transparency commitments.

The Form 4 expressly indicates the sales were made pursuant to a Rule 10b5-1 trading plan and includes weighted-average price disclosures for each tranche, with the reporting person offering to provide granular trade data upon request. The filing is signed and dated, and no amendments or additional relationships beyond officer status are reported. From a governance perspective, the disclosure meets routine compliance and transparency expectations.

Insider Roberts Johanna
Role EVP, Gen. Counsel & Secretary
Sold 600 shs ($162K)
Type Security Shares Price Value
Sale Common Stock 222 $269.20 $60K
Sale Common Stock 152 $270.19 $41K
Sale Common Stock 61 $271.22 $17K
Sale Common Stock 105 $272.23 $29K
Sale Common Stock 60 $273.12 $16K
Holdings After Transaction: Common Stock — 65,235 shares (Direct)
Footnotes (1)
  1. The sales were effected pursuant to the Reporting Person's Rule 10b5-1 trading plan. This transaction was executed in multiple trades at prices ranging from $268.75 to $269.74. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the transaction was effected. A portion of these shares is subject to vesting. This transaction was executed in multiple trades at prices ranging from $269.78 to $270.71. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed in multiple trades at prices ranging from $270.87 to $271.59. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed in multiple trades at prices ranging from $271.83 to $272.74. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the transaction was effected. This transaction was executed in multiple trades at prices ranging from $272.76 to $273.73. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the transaction was effected.
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).
X
 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)
09/02/2025
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 09/02/2025 S(1) 222 D $269.2(2) 65,235(3) D
Common Stock 09/02/2025 S(1) 152 D $270.19(4) 65,083(3) D
Common Stock 09/02/2025 S(1) 61 D $271.22(5) 65,022(3) D
Common Stock 09/02/2025 S(1) 105 D $272.23(6) 64,917(3) D
Common Stock 09/02/2025 S(1) 60 D $273.12(7) 64,857(3) 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
Explanation of Responses:
1. The sales were effected pursuant to the Reporting Person's Rule 10b5-1 trading plan.
2. This transaction was executed in multiple trades at prices ranging from $268.75 to $269.74. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the transaction was effected.
3. A portion of these shares is subject to vesting.
4. This transaction was executed in multiple trades at prices ranging from $269.78 to $270.71. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the transaction was effected.
5. This transaction was executed in multiple trades at prices ranging from $270.87 to $271.59. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the transaction was effected.
6. This transaction was executed in multiple trades at prices ranging from $271.83 to $272.74. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the transaction was effected.
7. This transaction was executed in multiple trades at prices ranging from $272.76 to $273.73. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares and prices at which the transaction was effected.
Remarks:
/s/ Johanna Roberts 09/04/2025
** 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

What did Johanna Roberts file on Form 4 for PEN?

The Form 4 reports that Johanna Roberts, EVP, General Counsel & Secretary, sold a total of 600 shares of Penumbra Inc. common stock on 09/02/2025 under a Rule 10b5-1 trading plan.

How many shares did the insider own after the transactions?

Following the reported transactions, the filing shows the reporting person beneficially owned 64,857 shares.

Were the sales part of a pre-planned program?

Yes. The filing is marked to indicate the sales were effected pursuant to a Rule 10b5-1 trading plan.

What prices were the shares sold at in the Form 4?

The filing reports tranche-level weighted-average prices ranging from $269.20 to $273.12 and notes each tranche was executed in multiple trades within specified price ranges.

Did the Form 4 report any option or derivative activity?

No. Table II (derivative securities) shows no transactions or holdings reported.