SK TELECOM CO LTD - 29 Oct 2026 Form 4 Insider Report for Penguin Solutions, Inc. (PENG)

Reporting relationship: Former 10% Owner
Issuer ticker: PENG
Reported as of: 29 Oct 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 02 Nov 2026, 06:15:53 UTC
Prior SEC filing: 23 Dec 2024
Source filing: View source filing
Reporting owner signature: /s/ Jong Suk Park, Jong Suk Park, CFO, SK Telecom Co., Ltd.

Filing notes and source

Key filing fact

SK TELECOM CO LTD filed Form 4 for Penguin Solutions, Inc. (PENG) on 02 Nov 2026.

Key facts

This page summarizes SK TELECOM CO LTD's Form 4 filing for Penguin Solutions, Inc. (PENG).
1 reported transaction and 2 derivative rows are listed below.
Accepted by SEC: 02 Nov 2026, 06:15.

Change

Previous filing in this sequence was filed on 23 Dec 2024.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (2)

CIK 0001015650 Primary reporting owner

SK TELECOM CO LTD

Relationship: Former 10% Owner
Address: SK T-TOWER, 65, EULJI-RO, JUNG-GU, SEOUL, KOREA, REPUBLIC OF
Signature: /s/ Jong Suk Park, Jong Suk Park, CFO, SK Telecom Co., Ltd.
Signature date: 02 Nov 2026

CIK 0002048719

Astra AI Infra LLC

Relationship: Former 10% Owner
Address: C/O SK TELECOM CO., LTD.,, SK T-TOWER, 65, EULJI-RO, JUNG-GU, SEOUL, KOREA, REPUBLIC OF
Signature: /s/ Jae Shin Lee, Jae Shin Lee, CEO, Astra AI Infra LLC
Signature date: 02 Nov 2026

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

PENG transaction Derivative

Convertible Preferred Stock

Sale

Transaction value
Shares: -200,000
Change %: -100%
Price: $1885.81^*
Shares after: 0
Date: 29 Oct 2026
Ownership: See footnote
Underlying class: Common Stock
Underlying amount
Exercise price
Footnotes: F1, F2, F3, F4, F5

PENG transaction Derivative

Convertible Preferred Stock

Sale

Transaction value
Shares: -200,000
Change %: -100%
Price: $1885.81^*
Shares after: 0
Date: 29 Oct 2026
Ownership: See footnote
Underlying class: Common Stock
Underlying amount
Exercise price
Footnotes: F1, F2, F3, F4, F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

SK TELECOM CO LTD is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 5 footnotes

Footnote F1

The Convertible Preferred Stock (the "Convertible Preferred Stock"), par value $0.03 per share, of Penguin Solutions, Inc. (the "Issuer") is convertible at the holder's option into shares of the Issuer's Common Stock, par value $0.03 per share (the "Common Stock"), at a conversion price determined in accordance with the Certificate of Designation of the Convertible Preferred Stock (the "Certificate of Designation"). The number of shares of Common Stock issuable upon conversion may vary in accordance with the terms of the Certificate of Designation.

Footnote F2

On October 29, 2026, Astra AI Infra LLC ("Astra"), a wholly owned subsidiary of SK Telecom Co., Ltd., sold all 200,000 shares of Convertible Preferred Stock to SHIFTIX1 LLC in a privately negotiated transaction pursuant to a Stock Transfer Agreement dated as of July 27, 2026. SHIFTIX1 is an indirectly wholly-owned subsidiary of SK hynix NAND Product Solutions Corp., and SK hynix NAND Product Solutions Corp. is a majority-owned subsidiary of SK hynix Inc. The aggregate Purchase Price was $377,162,666, or $1,885.81 per share of Convertible Preferred Stock. Following such sale, the Reporting Persons ceased to beneficially own any securities of the Issuer.

Footnote F3

The Convertible Preferred Stock was held directly by Astra and indirectly by SK Telecom Co., Ltd., which wholly owns Astra.

Footnote F4

The Convertible Preferred Stock is convertible into Common Stock at the holder's option at any time, subject to the terms of the Certificate of Designation.

Footnote F5

The conversion right has no fixed expiration date. The Issuer may require conversion or redeem the Convertible Preferred Stock in the circumstances specified in the Certificate of Designation.