Penumbra (PEN) President awarded RSUs; shares withheld for tax on vesting
Rhea-AI Filing Summary
Penumbra Inc President Shruthi Narayan reported equity compensation and related tax share withholding. On February 13, 2026, she received a grant of 2,630 restricted stock units (RSUs) that vest in four equal annual installments on February 15, 2026, 2027, 2028 and 2029, subject to continued service. On February 15, 2026, 705 common shares were withheld at $339.30 per share to satisfy tax obligations upon RSU vesting, a non‑market disposition. On February 17, 2026, she received an additional 2,630 RSUs vesting in four equal annual installments beginning February 15, 2027. The RSU footnotes state that if the Closing defined in the January 14, 2026 merger agreement with Boston Scientific Corporation occurs, any unvested RSUs will fully vest at that Closing, subject to continued service through that date.
Positive
- None.
Negative
- None.
Insights
Routine RSU grants and tax withholding; neutral governance impact.
The transactions show Penumbra’s President receiving two grants of 2,630 RSUs each under the 2014 Equity Incentive Plan, alongside 705 shares withheld to cover taxes on vesting. These are standard equity compensation and tax events rather than open‑market buying or selling.
The RSUs vest annually over four years, aligning the executive’s compensation with multi‑year company performance. The footnotes add that any unvested RSUs would fully vest upon the defined merger Closing with Boston Scientific Corporation, if that transaction is completed and service continues through that date.
Overall, these disclosures are routine for a senior executive, with the main governance detail being the potential accelerated vesting on a merger Closing. Actual impact for shareholders will depend on whether that merger closes and how many RSUs remain unvested at that time.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 2,630 | $0.00 | -- |
| Tax Withholding | Common Stock | 705 | $339.30 | $239K |
| Grant/Award | Common Stock | 2,630 | $0.00 | -- |
Footnotes (1)
- On February 13, 2026, the Reporting Person was granted 2,630 restricted stock units (RSUs) under the Issuer's Amended and Restated 2014 Equity Incentive Plan, of which 1/4 of the RSUs will vest equally on February 15, 2026, February 15, 2027, February 15, 2028 and February 15, 2029, subject to continued service by the Reporting Person on the applicable vesting date. Notwithstanding the foregoing, if the Closing (as defined in that certain Agreement and Plan of Merger, dated as of January 14, 2026, among the Issuer, Boston Scientific Corporation, a Delaware corporation, and Pinehurst Merger Sub, Inc., a Delaware corporation) occurs, any of the RSUs that remain unvested will fully vest on the Closing, subject to continued service by the Reporting Person through such date. A portion of these shares is subject to vesting. Shares were withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of RSUs granted to the Reporting Person. On February 17, 2026, the Reporting Person was granted 2,630 RSUs under the Issuer's Amended and Restated 2014 Equity Incentive Plan, of which 1/4 of the RSUs will vest equally on an annual basis, beginning on February 15, 2027, subject to continued service by the Reporting Person on the applicable vesting date. Notwithstanding the foregoing, if the Closing (as defined in that certain Agreement and Plan of Merger, dated as of January 14, 2026, among the Issuer, Boston Scientific Corporation, a Delaware corporation, and Pinehurst Merger Sub, Inc., a Delaware corporation) occurs, any of the RSUs that remain unvested will fully vest on the Closing, subject to continued service by the Reporting Person through such date.
