Grewal Harpreet 4

What Happened
Harpreet Grewal, a director of Penumbra, Inc. (PEN), was granted 589 restricted stock units (RSUs) on February 13, 2026. The award was reported as an acquisition-type grant (code A) with a $0 purchase price (total reported value $0). This is a compensation award, not a market purchase or sale.

Key Details

• Transaction date: 2026-02-13; transaction code: A (award/grant).
• Price: $0.00 per share; total reported cash consideration $0.
• Shares owned after transaction: Not disclosed in the filing.
• Vesting: RSUs vest 1/4 on each of March 31, June 30, September 30 and December 31, 2026, subject to continued service. A portion of the shares is subject to vesting.
• Acceleration: If the merger closing defined in the issuer’s January 14, 2026 merger agreement with Boston Scientific occurs, any unvested RSUs will fully vest on the Closing, subject to continued service.
• Filing timeliness: Form filed 2026-02-18 for a 2026-02-13 grant — the filing was made within the required two business days and is therefore timely.

Context
RSUs are compensation that convert to shares only when they vest; they are not an immediate cash purchase or sale and therefore are less direct as a vote of market sentiment. The potential full vesting on the merger closing is common in M&A-related awards and is contingent on continued service through that date.