Penumbra, Inc. (NYSE:PEN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Penumbra, Inc. (NYSE:PEN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02

Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On April 21, 2017, the Board of Directors (the Board) of Penumbra,
Inc. (the Company) appointed Ms. Bridget ORourke as an independent
director to fill the vacancy in the Class II directors, effective
immediately. Ms. ORourkes term will expire with the other Class II
director at the Companys 2017 annual meeting of stockholders (the
Annual Meeting) at which time Ms. ORourke will stand for election
by the Companys stockholders at the Annual Meeting. The Board has
also appointed Ms. ORourke to the Audit, Nominating and Corporate
Governance and Compensation Committees of the Board.
The Board has determined that Ms. ORourke is an independent
director under the New York Stock Exchange (NYSE) listing
standards, including the listing standards applicable to audit and
compensation committee members, and the Companys independence
guidelines, as set forth in its Corporate Governance Guidelines
(available on the Companys web site at www.penumbrainc.com, under
Investors Governance Corporate Governance).
Ms. ORourke has held a number of executive and leadership
positions over more than twenty years, with expertise across
different industries. Currently, Ms. ORourke serves as Executive
Director of the executive search and consulting practice of
ORourke Associates, a boutique firm providing services
exclusively for the credit union industry. From August 2008 to
June 2016, Ms. ORourke was Head of Human Resources at Passport
Capital, LLC, a global asset management firm. Prior to Passport
Capital, LLC, from 1997 to 2007 Ms. ORourke served in various
positions in the financial services and executive search
industries, including as Executive Search Director at ORourke
Career Connections, Controller at Sigma Partners, a multi-fund
venture capital firm, and Vice President for Citibank Global
Asset Managements Alternative Investment Strategies group. From
July 1991 to December 1996, Ms. ORourke held audit and internal
audit consulting positions of increasing responsibility at
Coopers Lybrand (now known as, PricewaterhouseCoopers or PWC).
Ms. ORourke received a B.A. from the University of California,
Santa Barbara and became a Certified Public Accountant in 1995.
She currently serves on the Board of Directors of the San
Francisco Fire Credit Union.
Ms. ORourke will receive compensation for her services (consisting
of an initial equity award and annual cash retainer and equity
award) in accordance with the Companys director compensation policy
applicable to non-employee directors. In connection with her
appointment to the Board, Ms. ORourke entered into the Companys
standard form of indemnification agreement.
There are no arrangements or understandings between Ms. ORourke and
any other person to which she was selected as a director. The
Company is not aware of any transaction in which Ms. ORourke has an
interest requiring disclosure under Item 404(a) of Regulation S-K.
On April 21, 2017, the company issued a press release announcing
Ms. ORourke’s appointment to the Board. A copy of the release is
furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits
99.1
Press Release of Penumbra, Inc. dated April 21, 2017.


About Penumbra, Inc. (NYSE:PEN)

Penumbra, Inc. (Penumbra) is an interventional therapies company. The Company designs, develops, manufactures and markets medical devices. The Company has a portfolio of products that addresses medical conditions and significant clinical needs across two markets, neuro and peripheral vascular. The conditions that its products address include ischemic stroke, hemorrhagic stroke and various peripheral vascular conditions that can be treated through thrombectomy and embolization procedures. The Company focuses on developing, manufacturing and marketing products for use by specialist physicians, including interventional neuroradiologists, neurosurgeons, interventional neurologists, interventional radiologists and vascular surgeons. Its neuro products include Neurovascular Access, Ischemic Stroke, Neurovascular Embolization and Neurosurgical Tools. The Company’s peripheral vascular products include Peripheral Embolization and Peripheral Thrombectomy.

Penumbra, Inc. (NYSE:PEN) Recent Trading Information

Penumbra, Inc. (NYSE:PEN) closed its last trading session up +0.05 at 84.60 with 113,716 shares trading hands.

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