Penumbra Inc — Director's Dealing 2016

May 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Penumbra Inc (PEN)
CIK: 0001321732
Period of Report: 2016-05-19

Reporting Person: Kassing Don W. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-19	Common Stock	S	3000	$48.6301	Disposed	13000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4000	Direct

Footnotes

F1: Sale primarily to cover existing and arising tax liabilities

F2: This transaction was executed in multiple trades at prices ranging from $48.44 to $48.67. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F3: Shares are held by The Kassing Family Trust.

F4: Includes restricted stock units vested/vesting as to 1/4 on each of March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016.