Form 4: Penumbra Inc. CEO Adam Elsesser Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Penumbra Inc.'s CEO, Adam Elsesser, exercised stock options and sold shares of common stock on March 5, 2025, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On March 5, 2025, Adam Elsesser, CEO and President of Penumbra Inc., executed a stock option to acquire 72,976 shares of common stock at a price of $30 per share.
- Following the exercise, Elsesser sold a total of 61,592 shares of common stock in multiple transactions at weighted average prices ranging from $281.14 to $286.57.
- These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, which was established in connection with the expiration of certain stock options and to cover the exercise price and tax obligations.
- After these transactions, Elsesser directly owns 16,376 shares of common stock and indirectly owns 837,582 shares through the Siegel/Elsesser Revocable Trust.
- Elsesser also directly owns 377,024 stock options.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing reflects routine transactions under a pre-arranged trading plan. No indication of unusual activity or concerns.
Industry Context
This filing is a routine disclosure of insider transactions. It is common for executives to utilize 10b5-1 trading plans to manage their stock holdings and avoid accusations of insider trading. The market will likely interpret this as a standard transaction unless the volume or pattern deviates significantly from past behavior.
Key Dates
| Date | Description |
|---|---|
| 03/05/2025 | Earliest transaction date; exercise of stock options and sale of shares. |
| 03/05/2025 | Date of stock option exercise and share sales. |
| 03/07/2025 | Date of signature on the Form 4 filing. |
| 09/16/2025 | Expiration date of stock options. |
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