[Form 4] Penumbra, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Penumbra director Arani Bose reported sales of common stock on 08/13/2025 executed under a Rule 10b5-1 trading plan. The filing shows two reported disposals totaling 12,000 shares sold at weighted average prices of $250.45 and $251.27, respectively, with the aggregated proceeds reflected by those weighted averages.

After the transactions the reporting person retained 3,455 shares held directly and 290,261 shares held indirectly through Bose Family Holdings II, LLC; a portion of directly held shares remains subject to vesting. The filing was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Sales executed under a Rule 10b5-1 plan, indicating pre-arranged, compliant transactions
• Large indirect holding remains through Bose Family Holdings II, LLC (290,261 shares), showing continued exposure
• Weighted average prices disclosed and offer to provide full trade details upon request

Negative

• Director disposed of 12,000 shares on 08/13/2025, which may be viewed negatively by some investors
• Portion of direct holdings subject to vesting, reducing immediately available retained shares

Insights

Financial Analyst

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.

Corporate Governance Expert

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.

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^*

Bose Arani

(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)

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)
			Code	V	Amount	(A) or (D)	Price
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)
				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 $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.

FAQ

What did Penumbra director Arani Bose report on Form 4 (PEN)?

The director reported two sales on 08/13/2025 totaling 12,000 shares sold under a Rule 10b5-1 plan at weighted average prices of $250.45 and $251.27.

How many Penumbra shares does Arani Bose still own after the reported sales?

After the reported transactions the filing shows 3,455 shares held directly, 558 shares in another direct line, and 290,261 shares held indirectly via Bose Family Holdings II, LLC.

Were the sales part of an approved trading plan?

Yes. The filing states the sales were effected pursuant to the reporting person's Rule 10b5-1 trading plan.

Did the Form 4 disclose trade prices and execution details?

The Form 4 reports weighted average sale prices and states the transactions were executed in multiple trades with price ranges of $250.00–$250.95 and $251.00–$251.79, and offers to provide full trade details upon request.

Who holds the indirect Penumbra shares for the reporting person?

The filing states that indirect shares are held by Bose Family Holdings II, LLC.