Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Penguin Solutions, Inc. (Nasdaq: PENG ) (“Penguin Solutions” or the “Company”) today announced the grant of inducement equity awards to its new Senior Vice President and Chief Financial Officer, Stephen Cumming, in connection with the commencement of his employment with the Company on October 6, 2026. On that date, pursuant to approval by the independent Compensation Committee of the Board of Directors of the Company (the “Committee”), the Company granted to Mr. Cumming time-based restricted stock units with respect to 33,502 shares of Common Stock of the Company (the “RSUs”) and performance-based restricted stock units with respect to 48,818 shares of Common Stock of the Company at the target level of performance (the “PSUs”).