Shiu Lambert 4
4 · Penumbra Inc · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Penumbra (PEN) CAO Shiu Lambert Receives RSU Award
What Happened
- Shiu Lambert, Chief Accounting Officer of Penumbra, was granted two restricted stock unit (RSU) awards of 2,300 shares each (Feb 13 and Feb 17, 2026), for a total of 4,600 RSUs (transaction code A). Separately, 412 shares were surrendered/withheld on Feb 15, 2026 to satisfy tax withholding obligations at $339.30 per share, producing proceeds of $139,792 (transaction code F).
- These were grants/vesting-related transactions (not open-market purchases or discretionary sales).
Key Details
- Dates and amounts:
- Feb 13, 2026: Grant of 2,300 RSUs (A) — $0 acquisition price reported (RSUs).
- Feb 15, 2026: 412 shares withheld/disposed to cover taxes (F) at $339.30/share = $139,792.
- Feb 17, 2026: Grant of 2,300 RSUs (A) — $0 acquisition price reported.
- Vesting and acceleration (from footnotes):
- The Feb 13 grant vests 1/4 on Feb 15 of 2026, 2027, 2028 and 2029, subject to continued service; unvested RSUs will fully vest upon the Closing of the announced merger with Boston Scientific, subject to continued service.
- The Feb 17 grant vests 1/4 annually starting Feb 15, 2027; similarly subject to acceleration on Closing of the merger.
- Tax withholding: 412 shares were withheld by the issuer to satisfy tax withholding on vested RSUs (routine for equity compensation).
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Filing timeliness: Form filed Feb 18, 2026; given the transaction dates and business-day timing, this filing appears timely.
Context
- RSU grants are compensation awards that vest over time (or upon a corporate event); they are not purchases that indicate an immediate buy/sell decision by the insider.
- The tax-withholding disposition (code F) is a routine administrative action when RSUs vest and does not necessarily reflect a market-driven sale.
- Note the merger with Boston Scientific referenced in the footnotes may accelerate vesting of unvested RSUs if the Closing occurs; that is a standard change-in-control vesting provision.
Insider Transaction Report
Form 4
Penumbra IncPEN
Shiu Lambert
Chief Accounting Officer
Transactions
- Award
Common Stock
[F1][F2]2026-02-13+2,300→ 37,585 total - Tax Payment
Common Stock
[F3][F2]2026-02-15$339.30/sh−412$139,792→ 37,173 total - Award
Common Stock
[F4][F2]2026-02-17+2,300→ 39,473 total
Holdings
- 300(indirect: By Spouse)
Common Stock
[F5]
Footnotes (5)
- [F1]On February 13, 2026, the Reporting Person was granted 2,300 restricted stock units (RSUs) under the Issuer's Amended and Restated 2014 Equity Incentive Plan, of which 1/4 of the RSUs will vest equally on February 15, 2026, February 15, 2027, February 15, 2028 and February 15, 2029, subject to continued service by the Reporting Person on the applicable vesting date. Notwithstanding the foregoing, if the Closing (as defined in that certain Agreement and Plan of Merger, dated as of January 14, 2026, among the Issuer, Boston Scientific Corporation, a Delaware corporation, and Pinehurst Merger Sub, Inc., a Delaware corporation) occurs, any of the RSUs that remain unvested will fully vest on the Closing, subject to continued service by the Reporting Person through such date.
- [F2]A portion of these shares is subject to vesting.
- [F3]Shares were withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of RSUs granted to the Reporting Person.
- [F4]On February 17, 2026, the Reporting Person was granted 2,300 RSUs under the Issuer's Amended and Restated 2014 Equity Incentive Plan, of which 1/4 of the RSUs will vest equally on an annual basis, beginning on February 15, 2027, subject to continued service by the Reporting Person on the applicable vesting date. Notwithstanding the foregoing, if the Closing (as defined in that certain Agreement and Plan of Merger, dated as of January 14, 2026, among the Issuer, Boston Scientific Corporation, a Delaware corporation, and Pinehurst Merger Sub, Inc., a Delaware corporation) occurs, any of the RSUs that remain unvested will fully vest on the Closing, subject to continued service by the Reporting Person through such date.
- [F5]Shares are held by the Reporting Person's spouse in an IRA.
Signature
/s/ Johanna Roberts, as attorney-in-fact for Lambert Shiu|2026-02-18