Penguin Solutions, Inc. — Director's Dealing 2026

Feb 4, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Penguin Solutions, Inc. (PENG)
CIK: 0001616533
Period of Report: 2026-02-02

Reporting Person: Shaikh Kashif (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-02	Common Stock	A	238188	—	Acquired	238188	Direct
2026-02-02	Common Stock	A	137898	—	Acquired	376086	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-02-02	Performance-Based Restricted Stock Units	$	A	238188	Acquired		Common Stock (238188)	Direct

Footnotes

F1: Represents time-based restricted stock units ("RSUs") that will vest as to 25% on April 20, 2027, with the remainder vesting quarterly thereafter in 12 equal installments, subject to the recipient's continued service through each applicable vesting date.

F2: Grant of performance-based RSUs ("PSUs") which represents the contingent right to receive a number of shares of the Issuer's common stock that is between 0% and 200% of the number of PSUs, with a four-year performance period beginning on the grant date and vesting upon certification by the Compensation Committee of the Issuer's Board of Directors that the 30-trading-day average closing price of the Issuer's common stock has equaled or exceeded stock price appreciation targets of 25%, 50%, 75%, and 100% above the 30-trading-day trailing average closing price of the Issuer's common stock preceding the grant date, with cumulative vesting at each level of 50%, 100%, 150%, and 200% of the number of PSUs, respectively. No PSUs will vest before the first regularly scheduled Compensation Committee meeting on or after the second anniversary of the grant date, and vesting is subject to the recipient's continued service through the applicable achievement certification date.