Were Arani Bose’s PEN share sales made under a trading plan?

Yes. Footnotes state the sales were effected pursuant to the reporting person’s Rule 10b5-1 trading plan . Such plans pre-arrange trades, which means the timing of these transactions follows a preset schedule rather than discretionary market-timing decisions.

Penumbra Inc (NYSE: PEN) director Arani Bose offloads 12,000 shares

Q: What did Penumbra (PEN) director Arani Bose sell on August 13, 2025?

Arani Bose sold 12,000 shares of Penumbra common stock on August 13, 2025. The sales were split into 9,103 shares at $250.45 per share and 2,897 shares at $251.27 per share, reported as open-market or private transactions.

Q: At what prices were the PEN shares sold by Arani Bose?

Bose’s reported sale prices were $250.45 and $251.27 per share. Footnotes state these are weighted-average prices from multiple trades executed within ranges of $250.00–$250.95 and $251.00–$251.79, with full trade details available on request.

Q: How many Penumbra (PEN) shares does Arani Bose hold after these transactions?

Following the reported sales, Bose holds 558 Penumbra shares directly and 290,261 shares indirectly via Bose Family Holdings II, LLC. Footnotes note that a portion of these shares is subject to vesting and that certain direct/indirect transfers are form-only ownership changes.

Q: How are Arani Bose’s indirect Penumbra (PEN) holdings structured?

Bose’s indirect holdings of 290,261 shares are held through Bose Family Holdings II, LLC . Footnotes explain that changes between direct and indirect holdings via this LLC are treated as mere changes in form of beneficial ownership and are exempt from Section 16 under Rule 16a-13.

Q: Are any of Arani Bose’s reported PEN holdings subject to vesting?

Footnotes indicate that a portion of the reported shares is subject to vesting . This means some of Bose’s equity interests will become fully owned only as specified vesting conditions or time-based milestones are satisfied.

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Penumbra Inc director Arani Bose reported open-market sales of 12,000 shares of common stock on August 13, 2025. The trades comprised 9,103 shares at $250.45 per share and 2,897 shares at $251.27 per share, executed under a Rule 10b5-1 trading plan.

The reported prices are weighted-average figures from multiple trades within price ranges of $250.00–$250.95 and $251.00–$251.79. After these transactions, Bose holds 558 shares directly and 290,261 shares indirectly through Bose Family Holdings II, LLC, with a portion of the holdings subject to vesting and certain direct/indirect transfers treated as mere changes in form of beneficial ownership under Section 16.

Insights

TL;DR Director sold 12,000 shares under a pre-established 10b5-1 plan, leaving substantial indirect holdings.

The sales were executed in multiple trades on 08/13/2025 at weighted average prices of $250.45 and $251.27, indicating orderly disposition via a Rule 10b5-1 plan rather than ad hoc insider selling. Total reported direct holdings post-sale are modest (3,455 and 558 shares reported on separate lines) while indirect ownership through Bose Family Holdings II, LLC remains large at 290,261 shares. For investors, the combination of plan-based sales and sizable retained indirect stake suggests liquidity needs or diversification rather than complete exit.

TL;DR Transactions were executed under a documented 10b5-1 plan and disclosed formally, maintaining compliance and transparency.

The filing discloses that the sales were pursuant to a Rule 10b5-1 trading plan and provides weighted average sale prices with an undertaking to supply detailed trade data upon request, which aligns with strong disclosure practices. The report also notes that some shares remain subject to vesting and that changes between direct and indirect holdings via the family LLC are treated as exempt transfers in form of ownership. The form is properly signed by an attorney-in-fact.

Insider Trade Summary

Net Seller: 12,000 shares

Net Sell 3 txns

Insider Bose Arani

Role Director

Sold 12,000 shs ($3.01M)

Type	Security	Shares	Price	Value
Sale	Common Stock	9,103	$250.45	$2.28M
Sale	Common Stock	2,897	$251.27	$728K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 558 shares (Direct); Common Stock — 290,261 shares (Indirect, By LLC)

Footnotes (6)

F1. The sales were effected pursuant to the Reporting Person's Rule 10b5-1 trading plan.
F2. This transaction was executed in multiple trades at prices ranging from $250.00 to $250.95. 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.
F3. A portion of these shares is subject to vesting.
F4. Any changes between direct and indirect holdings through Bose Family Holdings II, LLC are in transactions exempt from Section 16 pursuant to Rule 16a-13 under the Securities Exchange Act of 1934 as mere changes in form of beneficial ownership.
F5. This transaction was executed in multiple trades at prices ranging from $251.00 to $251.79. 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.
F6. Shares are held by Bose Family Holdings II, LLC.

Key Figures

Total shares sold: 12,000 shares First sale block: 9,103 shares at $250.45 per share Second sale block: 2,897 shares at $251.27 per share +4 more

7 metrics

Total shares sold 12,000 shares Aggregate Penumbra common shares sold by Arani Bose on August 13, 2025

First sale block 9,103 shares at $250.45 per share Common stock sale executed on August 13, 2025 under a Rule 10b5-1 plan

Second sale block 2,897 shares at $251.27 per share Additional common stock sale on August 13, 2025 under the same trading plan

Direct holdings after transaction 558 shares Common shares held directly by Arani Bose following the reported sales

Indirect holdings via LLC 290,261 shares Common shares held indirectly through Bose Family Holdings II, LLC after the transactions

Trade price range 1 $250.00–$250.95 per share Price range for one set of trades where the reported price is a weighted-average sale price

Trade price range 2 $251.00–$251.79 per share Price range for another set of trades with a weighted-average reported sale price

Key Terms

Rule 10b5-1 trading plan, weighted average sale price, Section 16, indirect holdings, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"The sales were effected pursuant to the Reporting Person's Rule 10b5-1 trading plan."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average sale price financial

"The price reported above reflects the weighted average sale price."

Section 16 regulatory

"transactions exempt from Section 16 pursuant to Rule 16a-13 under the Securities Exchange Act of 1934"

Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.

indirect holdings financial

"Any changes between direct and indirect holdings through Bose Family Holdings II, LLC"

beneficial ownership regulatory

"mere changes in form of beneficial ownership"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 08/15/2025 - 07:44 PM

FAQ

What did Penumbra (PEN) director Arani Bose sell on August 13, 2025?

Arani Bose sold 12,000 shares of Penumbra common stock on August 13, 2025. The sales were split into 9,103 shares at $250.45 per share and 2,897 shares at $251.27 per share, reported as open-market or private transactions.

At what prices were the PEN shares sold by Arani Bose?

Bose’s reported sale prices were $250.45 and $251.27 per share. Footnotes state these are weighted-average prices from multiple trades executed within ranges of $250.00–$250.95 and $251.00–$251.79, with full trade details available on request.

How many Penumbra (PEN) shares does Arani Bose hold after these transactions?

Following the reported sales, Bose holds 558 Penumbra shares directly and 290,261 shares indirectly via Bose Family Holdings II, LLC. Footnotes note that a portion of these shares is subject to vesting and that certain direct/indirect transfers are form-only ownership changes.

How are Arani Bose’s indirect Penumbra (PEN) holdings structured?

Bose’s indirect holdings of 290,261 shares are held through Bose Family Holdings II, LLC. Footnotes explain that changes between direct and indirect holdings via this LLC are treated as mere changes in form of beneficial ownership and are exempt from Section 16 under Rule 16a-13.

Are any of Arani Bose’s reported PEN holdings subject to vesting?

Footnotes indicate that a portion of the reported shares is subject to vesting. This means some of Bose’s equity interests will become fully owned only as specified vesting conditions or time-based milestones are satisfied.

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^*

Bose Arani

(Last)

(First)

(Middle)

ONE PENUMBRA PLACE

(Street)

ALAMEDA

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)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/13/2025		S⁽¹⁾		9,103	D	$250.45⁽²⁾	3,455⁽³⁾⁽⁴⁾	D
Common Stock	08/13/2025		S⁽¹⁾		2,897	D	$251.27⁽⁵⁾	558⁽³⁾⁽⁴⁾	D
Common Stock								290,261⁽⁴⁾	I	By LLC⁽⁶⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 $250.00 to $250.95. 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. Any changes between direct and indirect holdings through Bose Family Holdings II, LLC are in transactions exempt from Section 16 pursuant to Rule 16a-13 under the Securities Exchange Act of 1934 as mere changes in form of beneficial ownership.

5. This transaction was executed in multiple trades at prices ranging from $251.00 to $251.79. 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. Shares are held by Bose Family Holdings II, LLC.

Remarks:

	/s/ Stephen Dobson, as attorney-in-fact for Arani Bose	08/15/2025
	** 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