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 May 14, 2025, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On May 14, 2025, Adam Elsesser, CEO and President of Penumbra Inc., executed a stock option, acquiring 27,976 shares at $30.
- Simultaneously, Elsesser sold a total of 16,500 shares of Penumbra's common stock at prices ranging from $286.82 to $299.96.
- These sales were conducted under a pre-arranged Rule 10b5-1 trading plan, designed to satisfy the exercise price and tax obligations related to the stock option exercise.
- Following these transactions, Elsesser directly owns 86,613 shares and indirectly owns 837,582 shares through the Siegel/Elsesser Revocable Trust.
- Elsesser also holds derivative securities in the form of stock options, with 223,812 options remaining.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, reflecting routine executive compensation activities.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This filing is a routine disclosure of insider transactions and provides transparency regarding the trading activities of Penumbra's CEO. It is common for executives to utilize 10b5-1 trading plans to manage their stock holdings and avoid accusations of insider trading.
Comparison to Industry Standards
- Executive compensation and stock option exercises are common practices in publicly traded companies, particularly in the medical device industry.
- Companies like Medtronic, Boston Scientific, and Stryker also have executives who regularly exercise stock options and sell shares.
- The use of Rule 10b5-1 trading plans is a standard practice to ensure compliance with insider trading regulations.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the use of a 10b5-1 plan suggests the sales were pre-planned and not based on current company performance.
Key Dates
| Date | Description |
|---|---|
| 05/14/2025 | Date of stock option exercise and share sales. |
| 05/16/2025 | Date of signature for the Form 4 filing. |
| 09/16/2025 | Expiration date of stock options. |
Keywords
Form 4, Penumbra Inc, Adam Elsesser, Stock Options, Rule 10b5-1, Share Sales, Insider Trading
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