Kashif Shaikh - 02 Feb 2026 Form 4 Insider Report for Penguin Solutions, Inc. (PENG)

Role: President and CEO, Director
Signature: /s/ Anne Kuykendall as attorney-in-fact for Kashif Shaikh
Issuer symbol: PENG
Transactions as of: 02 Feb 2026
Net transactions value: $0
Form type: 4
Filing time: 04 Feb 2026, 19:31:33 UTC
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Shaikh Kashif	President and CEO, Director	C/O PENGUIN SOLUTIONS, INC., 45800 NORTHPORT LOOP WEST, FREMONT	/s/ Anne Kuykendall as attorney-in-fact for Kashif Shaikh	04 Feb 2026	0002108723

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PENG	Common Stock	Award	$0	+238,188		$0.000000	238,188	02 Feb 2026	Direct	F1
transaction	PENG	Common Stock	Award	$0	+137,898	+58%	$0.000000	376,086	02 Feb 2026	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PENG	Performance-Based Restricted Stock Units	Award	$0	+238,188		$0.000000	238,188	02 Feb 2026	Common Stock	238,188		Direct	F2

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

Explanation of Responses:

Id	Content
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.

Content

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.

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.