Sarna Surbhi 4

What Happened

• Surbhi Sarna, a director of Penumbra, was granted 589 restricted stock units (RSUs) on February 13, 2026. The award is reported as an acquisition at $0.00 (total reported acquisition value $0). This is an equity grant (award), not a purchase or sale.

Key Details

• Transaction date: 2026-02-13; Filing date (Form 4): 2026-02-18.
• Security: Common stock reported as restricted stock units (RSUs); 589 units granted at $0.00 per share.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Vesting (footnotes): RSUs vest 1/4 on each of Mar 31, Jun 30, Sep 30 and Dec 31, 2026, subject to continued service. If the specified merger closing (Boston Scientific acquisition) occurs, any remaining unvested RSUs will fully vest on the Closing, subject to continued service. A portion of the shares is subject to vesting.
• Filing timeliness: Form 4 was filed 5 calendar days after the grant (filed Feb 18 vs. transaction Feb 13); this appears to be after the usual two-business-day deadline for Form 4s.

Context

• RSU grants are compensation awards and do not represent an immediate sale or purchase of shares; they convert into shares only as they vest. The merger-related full-vesting provision means unvested RSUs could accelerate if the Boston Scientific transaction closes.