Form 4: Penumbra Executive Sells Shares Under 10b5-1 Plan

Penumbra's EVP, General Counsel & Secretary, Johanna Roberts, sold 600 shares of common stock on November 10, 2025, through a pre-arranged 10b5-1 trading plan.

Summary

• Johanna Roberts, Executive Vice President, General Counsel & Secretary of Penumbra Inc. (PEN), reported the sale of common stock.
• A total of 600 shares of Penumbra common stock were sold on November 10, 2025.
• The sales were executed in multiple transactions at weighted average prices ranging from $263.58 to $269.56 per share.
• These transactions were conducted pursuant to a pre-arranged Rule 10b5-1 trading plan.
• Following these transactions, Johanna Roberts beneficially owns 63,657 shares of Penumbra common stock.
• A portion of the beneficially owned shares is subject to vesting.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While an insider sale can sometimes be perceived negatively, the execution under a Rule 10b5-1 plan suggests a pre-planned transaction for personal liquidity or diversification, rather than a reflection of negative sentiment towards the company's prospects.

Positives

• The sales were effected pursuant to a Rule 10b5-1 trading plan, indicating the transactions were pre-scheduled and not a reaction to new, non-public information.

Negatives

• The sale by a key executive, Johanna Roberts, reduces her direct ownership stake in the company by 600 shares.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding Penumbra Inc.'s future outlook.

Industry Context

This insider transaction report is specific to an individual executive's stock sales and does not provide information directly related to broader industry trends or competitive landscape for Penumbra Inc.

Stakeholder Impact

• Shareholders: A minor reduction in direct insider ownership, which is generally not considered a significant signal due to the pre-planned nature of the sale.

Key Dates

Recommendation

The insider sale was conducted under a Rule 10b5-1 plan, indicating a pre-scheduled transaction for personal financial planning rather than a reaction to new material information. This type of transaction generally does not signal a change in the company's fundamental outlook, thus a 'hold' recommendation is appropriate based solely on this filing.

Keywords

Penumbra, PEN, insider trading, Form 4, stock sale, 10b5-1 plan, Johanna Roberts, executive transaction