Penumbra Inc — Director's Dealing 2017

Feb 1, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Penumbra Inc (PEN)
CIK: 0001321732
Period of Report: 2017-01-30

Reporting Person: Bose Arani (Director, Chief Innovator)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-30	Common Stock	M	8200	$1.26	Acquired	740391	Direct
2017-01-30	Common Stock	S	4318	$70.49	Disposed	736073	Direct
2017-01-30	Common Stock	S	3882	$70.99	Disposed	732191	Direct
2017-01-31	Common Stock	M	9000	$1.26	Acquired	741191	Direct
2017-01-31	Common Stock	S	7001	$71.19	Disposed	734190	Direct
2017-01-31	Common Stock	S	1999	$71.51	Disposed	732191	Direct
2017-02-01	Common Stock	M	4200	$1.26	Acquired	736391	Direct
2017-02-01	Common Stock	S	3372	$70.69	Disposed	733019	Direct
2017-02-01	Common Stock	S	828	$71.47	Disposed	732191	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-30	Stock Option (right to buy)	$1.26	M	8200	Disposed	2017-09-30	Common Stock (8200.0)	Direct
2017-01-31	Stock Option (right to buy)	$1.26	M	9000	Disposed	2017-09-30	Common Stock (9000.0)	Direct
2017-02-01	Stock Option (right to buy)	$1.26	M	4200	Disposed	2017-09-30	Common Stock (4200.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	250000	Indirect
Common Stock	250000	Indirect

Footnotes

F1: The sales were effected pursuant to the Reporting Person's Rule 10b5-1 trading plan.

F2: This transaction was executed in multiple trades at prices ranging from $69.85 to $70.80. 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 a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F3: This transaction was executed in multiple trades at prices ranging from $70.85 to $71.25. 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 a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F4: This transaction was executed in multiple trades at prices ranging from $70.50 to $71.48. 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 a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F5: This transaction was executed in multiple trades at prices ranging from $71.50 to $71.55. 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 a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F6: This transaction was executed in multiple trades at prices ranging from $70.20 to $71.15. 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 a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F7: This transaction was executed in multiple trades at prices ranging from $71.25 to $71.70. 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 a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F8: Shares are held by the Arani Bose 2009 Family Trust.

F9: Shares are held by the Shumita Bose 2009 Family Trust.

F10: All shares are vested and exercisable.