[Form 4] Penumbra Inc Insider Trading Activity

Rhea-AI Filing Summary

Penumbra, Inc. (PEN) reported an insider equity transaction involving its President, Shruthi Narayan. On 11/15/2025, the company withheld 358 shares of common stock at a price of $280.07 per share. These shares were withheld to cover tax obligations that arose when previously granted restricted stock units vested.

After this tax withholding transaction, Narayan beneficially owned 26,603 shares of Penumbra common stock in direct ownership, and a portion of these shares remains subject to vesting. The filing is a routine disclosure of equity compensation and related tax withholding rather than an open-market purchase or sale.

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^*

Narayan Shruthi

(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)
	President

3. Date of Earliest Transaction (Month/Day/Year)
11/15/2025

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	11/15/2025		F(1)		358	D	$280.07	26,603(2)	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. Shares were withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock units granted to the Reporting Person.

2. A portion of these shares is subject to vesting.

Remarks:

	/s/ Johanna Roberts, as attorney-in-fact for Shruthi Narayan	11/18/2025
	** 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 insider transaction did Penumbra (PEN) report for Shruthi Narayan?

Penumbra reported that President Shruthi Narayan had 358 shares of common stock withheld on 11/15/2025 to satisfy tax obligations from vesting restricted stock units.

Was the Penumbra (PEN) Form 4 transaction an open-market trade?

No. The Form 4 states that the 358 shares were withheld by the issuer to cover tax withholding due to the vesting of restricted stock units, not bought or sold on the open market.

How many Penumbra (PEN) shares does Shruthi Narayan own after the reported transaction?

Following the reported transaction, Shruthi Narayan beneficially owned 26,603 shares of Penumbra common stock in direct ownership, with a portion still subject to vesting.

What was the price used for the Penumbra (PEN) tax withholding shares?

The 358 shares withheld to satisfy tax obligations were reported at a price of $280.07 per share.

What is the relationship of the reporting person to Penumbra (PEN)?

The reporting person, Shruthi Narayan, is identified as an officer of Penumbra, serving in the role of President.

What is the reason given for the share withholding in the Penumbra (PEN) Form 4?

The explanation states that shares were withheld by the issuer to satisfy tax withholding obligations connected to the vesting of restricted stock units granted to the reporting person.