Form 4: Penumbra Executive Sells $177K in Stock

Penumbra Inc.'s EVP, General Counsel, and Secretary, Johanna Roberts, sold 600 shares of common stock for approximately $177,000 through a pre-arranged trading plan.

Summary

• Johanna Roberts, EVP, General Counsel & Secretary of Penumbra Inc. (PEN), sold a total of 600 shares of common stock.
• The sales occurred on December 1, 2025, through multiple transactions at weighted average prices ranging from $292.09 to $298.02 per share.
• The aggregate value of the shares sold was approximately $176,956.11.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan, indicating a pre-scheduled sale.
• Following these sales, Ms. Roberts directly beneficially owns 64,136 shares of Penumbra common stock.
• A portion of the remaining beneficially owned shares is subject to vesting.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to insider selling, which can sometimes be viewed with caution by investors. However, this is mitigated by the disclosure that the sales were part of a pre-arranged Rule 10b5-1 plan, suggesting a planned liquidity event rather than a reaction to adverse company news.

Positives

• The sales were conducted under a Rule 10b5-1 trading plan, which provides transparency and indicates a pre-scheduled transaction rather than a reaction to immediate company news or performance.

Negatives

• Insider selling, even when pre-arranged, can sometimes be perceived negatively by investors as it reduces management's direct equity stake in the company.

Risks

• No specific risks are mentioned in this Form 4 filing beyond the general implications of insider selling, which can sometimes lead to negative investor sentiment.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing, as it pertains solely to an individual insider transaction.

Management Comments

• The sales were effected pursuant to the Reporting Person's Rule 10b5-1 trading plan.
• The Reporting Person undertakes to provide full information regarding the number of shares and prices at which the transaction was effected upon request to the SEC staff, the Issuer, or a security holder.

Industry Context

This Form 4 filing reports an individual insider transaction and does not provide broader industry context or trends for Penumbra Inc. or its sector.

Corporate Governance

Stakeholder Impact

• Shareholders: May view the insider sale with slight caution, though the 10b5-1 plan provides context. The overall impact on share price is likely minimal given the relatively small number of shares sold compared to total outstanding shares.
• Employees: No direct impact on employees is mentioned in this filing.
• Customers: No direct impact on customers is mentioned in this filing.
• Suppliers: No direct impact on suppliers is mentioned in this filing.
• Creditors: No direct impact on creditors is mentioned in this filing.

Key Dates

Keywords

Penumbra Inc., PEN, Insider Trading, Form 4, Stock Sale, Johanna Roberts, Rule 10b5-1, Executive Stock Sale, Corporate Governance