Penumbra Inc — Director's Dealing 2018

May 3, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Penumbra Inc (PEN)
CIK: 0001321732
Period of Report: 2018-05-01

Reporting Person: Evans Robert D. (EVP, Gen. Counsel & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-01	Common Stock	M	5000	$22.04	Acquired	17225	Direct
2018-05-01	Common Stock	S	2000	$124.56	Disposed	15225	Direct
2018-05-01	Common Stock	S	1300	$125.55	Disposed	13925	Direct
2018-05-01	Common Stock	S	800	$126.68	Disposed	13125	Direct
2018-05-01	Common Stock	S	900	$127.53	Disposed	12225	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-01	Stock Option (right to buy)	$22.04	M	5000	Disposed	2025-08-11	Common Stock (5000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	160775	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 $124.10 to $125.05. 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.

F3: This transaction was executed in multiple trades at prices ranging from 125.15 to $125.90. 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 $126.35 to $126.85. 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 $127.15 to $127.85. 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: Shares are held by The 2010 Robert D. Evans and Norma J. Evans Revocable Trust u/d/t dated November 11, 2010.

F7: Option grant vests over four years, with 25% of the shares vesting on August 1, 2016 and 1/48 vesting each month thereafter.