Adam Elsesser - 11 May 2023 Form 4 Insider Report for Penumbra Inc (PEN)

Role
CEO and President, Director
Signature
/s/ Johanna Roberts, as attorney-in-fact for Adam Elsesser
Issuer symbol
PEN
Transactions as of
11 May 2023
Transactions value $
-$3,003,950
Form type
4
Date filed
15 May 2023, 19:31
Previous filing
13 Jan 2022
Next filing
14 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PEN Common Stock Options Exercise $74.9K +9.67K $7.75 9.67K 11 May 2023 Direct
transaction PEN Common Stock Sale -$1.11M -3.49K -36.06% $317.61 6.18K 11 May 2023 Direct F1, F2
transaction PEN Common Stock Sale -$1.19M -3.75K -60.63% $318.66 2.43K 11 May 2023 Direct F1, F3
transaction PEN Common Stock Sale -$640K -2K -82.29% $319.44 431 11 May 2023 Direct F1, F4
transaction PEN Common Stock Sale -$138K -431 -100% $320.50 0 11 May 2023 Direct F1, F5
holding PEN Common Stock 958K 11 May 2023 By Trust F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PEN Stock Option (right to buy) Options Exercise $0 -9.67K -16.67% $0.00 48.3K 11 May 2023 Common Stock 9.67K $7.75 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
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 $317.11 to $318.03. 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 This transaction was executed in multiple trades at prices ranging from $318.12 to $319.06. 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.
F4 This transaction was executed in multiple trades at prices ranging from $319.12 to $319.99. 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.
F5 This transaction was executed in multiple trades at prices ranging from $320.19 to $320.99. 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 the Siegel/Elsesser Revocable Trust.
F7 All shares are vested and exercisable.