Form 4: Penumbra Inc. Chief Accounting Officer Reports Tax Withholding Transaction

Lambert Shiu, Chief Accounting Officer of Penumbra Inc., reports the withholding of shares to cover tax obligations related to vesting restricted stock units.

Summary

• On March 15, 2025, Lambert Shiu, the Chief Accounting Officer of Penumbra Inc., had shares withheld by the issuer to satisfy tax withholding obligations related to the vesting of restricted stock units.
• A total of 213 shares of common stock were disposed of at a price of $272.62 per share for this purpose.
• Following the transaction, Shiu directly owns 32,756 shares of Penumbra Inc. common stock, a portion of which is subject to vesting.
• Shiu also indirectly owns 300 shares through a spouse's IRA.

Sentiment

Score: 5

Explanation: This is a neutral report on a standard tax-related transaction. It doesn't convey any positive or negative sentiment about the company's performance or future prospects.

Industry Context

This is a routine filing related to insider transactions, specifically the withholding of shares to cover tax obligations upon the vesting of restricted stock units. It's a common practice and doesn't necessarily indicate a change in the executive's confidence in the company.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their executives.
• The tax withholding process is a common practice across the industry, ensuring compliance with tax regulations.
• Similar transactions are regularly reported by executives at comparable companies like Medtronic, Boston Scientific, and Abbott Laboratories.

Key Dates