Penumbra Inc — Director's Dealing 2017

Jan 27, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Penumbra Inc (PEN)
CIK: 0001321732
Period of Report: 2017-01-25

Reporting Person: Elsesser Adam (Director, Chairman, CEO and President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-25	Common Stock	M	16500	$1.26	Acquired	1252338	Direct
2017-01-25	Common Stock	S	10498	$74.99	Disposed	1241840	Direct
2017-01-25	Common Stock	S	6002	$75.61	Disposed	1235838	Direct
2017-01-26	Common Stock	M	9500	$1.26	Acquired	1245338	Direct
2017-01-26	Common Stock	S	5802	$72.85	Disposed	1239536	Direct
2017-01-26	Common Stock	S	3598	$73.68	Disposed	1235938	Direct
2017-01-26	Common Stock	S	100	$75.05	Disposed	1235838	Direct
2017-01-27	Common Stock	M	5500	$1.26	Acquired	1241338	Direct
2017-01-27	Common Stock	S	4900	$72.38	Disposed	1236438	Direct
2017-01-27	Common Stock	S	600	$73.36	Disposed	1235838	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-25	Stock Option (right to buy)	$1.26	M	16500	Disposed	2017-09-30	Common Stock (16500.0)	Direct
2017-01-26	Stock Option (right to buy)	$1.26	M	9500	Disposed	2017-09-30	Common Stock (9500.0)	Direct
2017-01-27	Stock Option (right to buy)	$1.26	M	5500	Disposed	2017-09-30	Common Stock (5500.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14144	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 $74.25 to $75.20. 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 $75.25 to $75.90. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provideupon 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 $72.40 to $73.35. 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 $73.45 to $74.35. 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 $71.95 to $72.90. 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 $73.15 to $73.70. 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 Siegel/Elsesser Revocable Trust.

F9: All shares are vested and exercisable.