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Penumbra Inc·4

Feb 18, 8:02 PM ET

Shiu Lambert 4

Research Summary

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Updated

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.