Penguin Solutions, Inc. — Director's Dealing 2025

Oct 16, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Penguin Solutions, Inc. (PENG)
CIK: 0001616533
Period of Report: 2025-10-14

Reporting Person: Adams Mark (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-10-14	Common Stock	A	107958	—	Acquired	1041937	Direct
2025-10-14	Common Stock	F	54822	$22.32	Disposed	987115	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	29640	Indirect

Footnotes

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.