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                    <ccc>XXXXXXXX</ccc>
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            <liveTestFlag>LIVE</liveTestFlag>



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            <issuerName>PENUMBRA, INC.</issuerName>
            <secFileNumber>001-37557</secFileNumber>
            <issuerAddress>
                <ns2:street1>One Penumbra Place</ns2:street1>
                <ns2:city>Alameda</ns2:city>
                <ns2:stateOrCountry>CA</ns2:stateOrCountry>
                <ns2:zipCode>94502</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>(510) 748-3200</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>ADAM ELSESSER</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Officer</relationshipToIssuer>
                <relationshipToIssuer>Director</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>Morgan Stanley Smith Barney LLC Executive Financial Services</name>
                <address>
                    <ns2:street1>1 New York Plaza</ns2:street1>
                    <ns2:street2>8th Floor</ns2:street2>
                    <ns2:city>New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10004</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>16600</noOfUnitsSold>
            <aggregateMarketValue>4950468.60</aggregateMarketValue>
            <noOfUnitsOutstanding>38725940</noOfUnitsOutstanding>
            <approxSaleDate>05/14/2025</approxSaleDate>
            <securitiesExchangeName>NYSE</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>05/14/2025</acquiredDate>
            <natureOfAcquisitionTransaction>Stock Option Exercise</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>16600</amountOfSecuritiesAcquired>
            <paymentDate>05/14/2025</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
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                <address>
                    <ns2:street1>One Penumbra Place</ns2:street1>
                    <ns2:city>Alameda</ns2:city>
                    <ns2:stateOrCountry>CA</ns2:stateOrCountry>
                    <ns2:zipCode>94502</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>05/07/2025</saleDate>
            <amountOfSecuritiesSold>16650</amountOfSecuritiesSold>
            <grossProceeds>4817704.14</grossProceeds>
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        <securitiesSoldInPast3Months>
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                    <ns2:stateOrCountry>CA</ns2:stateOrCountry>
                    <ns2:zipCode>94502</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>04/16/2025</saleDate>
            <amountOfSecuritiesSold>16560</amountOfSecuritiesSold>
            <grossProceeds>4543181.35</grossProceeds>
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        <securitiesSoldInPast3Months>
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                <address>
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                    <ns2:city>Alameda</ns2:city>
                    <ns2:stateOrCountry>CA</ns2:stateOrCountry>
                    <ns2:zipCode>94502</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>04/02/2025</saleDate>
            <amountOfSecuritiesSold>16565</amountOfSecuritiesSold>
            <grossProceeds>4509701.98</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>ADAM ELSESSER</name>
                <address>
                    <ns2:street1>One Penumbra Place</ns2:street1>
                    <ns2:city>Alameda</ns2:city>
                    <ns2:stateOrCountry>CA</ns2:stateOrCountry>
                    <ns2:zipCode>94502</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>03/19/2025</saleDate>
            <amountOfSecuritiesSold>16600</amountOfSecuritiesSold>
            <grossProceeds>4585104.26</grossProceeds>
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        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>ADAM ELSESSER</name>
                <address>
                    <ns2:street1>One Penumbra Place</ns2:street1>
                    <ns2:city>Alameda</ns2:city>
                    <ns2:stateOrCountry>CA</ns2:stateOrCountry>
                    <ns2:zipCode>94502</ns2:zipCode>
                </address>
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            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>03/05/2025</saleDate>
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            <grossProceeds>4709323.72</grossProceeds>
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        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>ADAM ELSESSER</name>
                <address>
                    <ns2:street1>One Penumbra Place</ns2:street1>
                    <ns2:city>Alameda</ns2:city>
                    <ns2:stateOrCountry>CA</ns2:stateOrCountry>
                    <ns2:zipCode>94502</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>03/05/2025</saleDate>
            <amountOfSecuritiesSold>45000</amountOfSecuritiesSold>
            <grossProceeds>12759651.00</grossProceeds>
        </securitiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>05/14/2025</noticeDate>
            <planAdoptionDates>
                <planAdoptionDate>11/25/2024</planAdoptionDate>
            </planAdoptionDates>
            <signature>/s/ Adam Elsesser</signature>
        </noticeSignature>
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144
0001651323
XXXXXXXX
LIVE
0001321732
PENUMBRA, INC.
001-37557
One Penumbra Place
Alameda
CA
94502
(510) 748-3200
ADAM ELSESSER
Officer
Director
Common
Morgan Stanley Smith Barney LLC Executive Financial Services
1 New York Plaza
8th Floor
New York
NY
10004
16600
4950468.60
38725940
05/14/2025
NYSE
Common
05/14/2025
Stock Option Exercise
ISSUER
N
16600
05/14/2025
Cash
N
ADAM ELSESSER
One Penumbra Place
Alameda
CA
94502
Common
05/07/2025
16650
4817704.14
ADAM ELSESSER
One Penumbra Place
Alameda
CA
94502
Common
04/16/2025
16560
4543181.35
ADAM ELSESSER
One Penumbra Place
Alameda
CA
94502
Common
04/02/2025
16565
4509701.98
ADAM ELSESSER
One Penumbra Place
Alameda
CA
94502
Common
03/19/2025
16600
4585104.26
ADAM ELSESSER
One Penumbra Place
Alameda
CA
94502
Common
03/05/2025
16600
4709323.72
ADAM ELSESSER
One Penumbra Place
Alameda
CA
94502
Common
03/05/2025
45000
12759651.00
05/14/2025
11/25/2024
/s/ Adam Elsesser