Mark Adams - 14 Oct 2025 Form 4 Insider Report for Penguin Solutions, Inc. (PENG)

Role: President and CEO, Director
Signature: /s/ Anne Kuykendall as attorney-in-fact for Mark Adams
Issuer symbol: PENG
Transactions as of: 14 Oct 2025
Transactions value $: -$1,223,627
Form type: 4
Filing time: 16 Oct 2025, 16:04:49 UTC
Previous filing: 01 Oct 2025
Next filing: 21 Oct 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Adams Mark	President and CEO, Director	C/O PENGUIN SOLUTIONS, INC., 45800 NORTHPORT LOOP WEST, FREMONT	/s/ Anne Kuykendall as attorney-in-fact for Mark Adams	16 Oct 2025	0001349123

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PENG	Common Stock	Award	$0	+108K	+11.56%	$0.00	1.04M	14 Oct 2025	Direct	F1
transaction	PENG	Common Stock	Tax liability	-$1.22M	-54.8K	-5.26%	$22.32	987K	14 Oct 2025	Direct	F2
holding	PENG	Common Stock						29.6K	14 Oct 2025	The Adams Family Trust

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On September 26, 2022, the reporting person was granted performance-based restricted stock units ("PSUs"), the vesting of which was (i) tied to the achievement of total stockholder return goals relative to the performance of the median company in the Russell 2000 Index following the end of a given three-year performance period, and (ii) subject to the reporting person's continued employment through the date of certification of performance by the Compensation Committee of the Issuer's Board of Directors (the "Committee"). On October 14, 2025, the Committee certified the performance goal achievement and determined that 107,958 PSUs were earned by the reporting person and vested as of such date.
F2	Reflects shares surrendered to the Issuer to satisfy tax withholding obligations in connection with vesting of PSUs. No shares were sold.

Content

On September 26, 2022, the reporting person was granted performance-based restricted stock units ("PSUs"), the vesting of which was (i) tied to the achievement of total stockholder return goals relative to the performance of the median company in the Russell 2000 Index following the end of a given three-year performance period, and (ii) subject to the reporting person's continued employment through the date of certification of performance by the Compensation Committee of the Issuer's Board of Directors (the "Committee"). On October 14, 2025, the Committee certified the performance goal achievement and determined that 107,958 PSUs were earned by the reporting person and vested as of such date.

Reflects shares surrendered to the Issuer to satisfy tax withholding obligations in connection with vesting of PSUs. No shares were sold.