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: Bose Arani (Director, Chief Innovator)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-25	Common Stock	M	16500	$1.26	Acquired	748691	Direct
2017-01-25	Common Stock	S	11793	$75.02	Disposed	736898	Direct
2017-01-25	Common Stock	S	4707	$75.68	Disposed	732191	Direct
2017-01-26	Common Stock	M	9500	$1.26	Acquired	741691	Direct
2017-01-26	Common Stock	S	5981	$72.85	Disposed	735710	Direct
2017-01-26	Common Stock	S	3416	$73.70	Disposed	732294	Direct
2017-01-26	Common Stock	S	103	$75.04	Disposed	732191	Direct
2017-01-27	Common Stock	M	5500	$1.26	Acquired	737691	Direct
2017-01-27	Common Stock	S	4715	$72.37	Disposed	732976	Direct
2017-01-27	Common Stock	S	785	$73.32	Disposed	732191	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	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 $74.45 to $75.43. 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 $75.45 to $75.90. 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.

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 $74.30. 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 $74.65 to $75.05. 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: These transactions occurred prior to the date on which the Reporting Person became subject to Section 16 and were reflected on the Reporting Person's Form 3.

F8: This transaction was executed in multiple trades at prices ranging from $72.05 to $72.95. 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.

F9: 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.

F10: Shares are held by the Arani Bose 2009 Family Trust.

F11: Shares are held by the Shumita Bose 2009 Family Trust.

F12: All shares are vested and exercisable.