Disrupt PAD+ Study With the Shockwave Medical M5+ Peripheral IVL System

General Inclusion Criteria 1. Subject is able and willing to comply with all assessments in the study. 2. Subject or subject's legal representative have been informed of the nature of the study, agrees to participate and has signed the approved consent form. 3. Age of subject is \> 18. 4. Rutherford Clinical Category 2, 3, 4 or 5 of the target limb(s). 5. Estimated life expectancy \>1 year. 6. Subject is intended to undergo treatment with Shockwave M5+ Peripheral IVL System for de novo lesions of the ilio-femoropopliteal arteries. Angiographic Inclusion Criteria 7. Single or multiple de novo target lesion(s) located from the common iliac to the femoropopliteal artery, in one or both limbs. 8. Target lesion reference vessel diameter is between 3.5mm and 8.0mm by visual estimate. 9. Target lesion is ≥70% stenosis by investigator via visual estimate. 10. Target lesion length is ≤200mm for lesions 70-99% stenosed. Target lesion can be all or part of the 200mm treated zone. 11. Chronic total occlusion, lesion length is ≤100mm of the total ≤200 mm target lesion. 12. Subject has at least one patent tibial vessel on the target leg with runoff to the foot, defined as no stenosis \>50%. 13. Calcification is at least moderate defined as presence of fluoroscopic evidence of calcification: 1) on parallel sides of the vessel and 2) extending \> 50% the length of the lesion if lesion is ≥50mm in length; or extending for minimum of 20mm if lesion is \<50mm in length. General Exclusion Criteria 1. Rutherford Clinical Category 0, 1, and 6. 2. Subject has active infection requiring antibiotic therapy. 3. History of endovascular or surgical procedure on the target limb within the last 30 days or planned within 30 days of the index procedure. Note: Concomitant IVL treatment to facilitate large bore access at the time of procedure is allowed. 4. Subject in whom antiplatelet or anticoagulant therapy is contraindicated. 5. Subject has known allergy to contrast agents or medications used to perform endovascular intervention that cannot be adequately pre-treated. 6. Subject has known allergy to urethane, nylon, or silicone. 7. Myocardial infarction within 60 days prior to enrollment. 8. History of stroke within 60 days prior to enrollment. 9. Subject has acute or chronic renal disease defined as serum creatinine of \>2.5 mg/dL or \>220 umol/L, unless on dialysis. 10. Subject is pregnant or nursing. 11. Subject is participating in another research study involving an investigational agent (pharmaceutical, biologic, or medical device) that has not reached the primary endpoint. 12. Subject has other medical, social or psychological problems that, in the opinion of the investigator, preclude them from receiving this treatment, and the procedures and evaluations pre- and post-treatment. 13. The planned use of specialty balloons, re-entry or atherectomy devices in the target lesion(s). Angiographic Exclusion Criteria 14. In-stent restenosis within 10mm of the target zone. 15. Target lesions distal to the popliteal artery. 16. Evidence of aneurysm or thrombus in target vessel. 17. No calcium or mild calcium in the target lesion. 18. Target lesion within native or synthetic vessel grafts. 19. Subject has more than three target lesions requiring treatment. 20. Subject has significant non-target lesion (\>50% stenosis or occlusion) within the target limb (e.g. iliac, common femoral or below-the-knee) not successfully treated prior to treatment of the target lesions. 21. Failure to successfully cross the guidewire across the target lesion; successful crossing defined as tip of the guidewire distal to the target lesion in the absence of flow limiting dissections or perforations.