Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 55

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 55
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 long-term incentive plan until such awards vest and/or are earned                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| ✔                                    |     | Prohibition on hedging, pledging, or short sales of our securities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| ✔                                    |     | Pay equity studies of our U.S. workforce designed to inform our efforts to promote pay parity amongst our employees, which required modest changes that we subsequently implemented                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

#### 2025 Say-on-Pay Vote
The Compensation Committee is focused on aligning our executive compensation program with the interests of our stockholders. In January and February 2025, we reached out to our top 25 stockholders, representing over 77% of our shares outstanding as of the record date for our 2025 Annual Meeting. Stockholders have been largely receptive to the revised compensation practices that the Compensation Committee has implemented in conjunction with our management team since fiscal 2021. At our 2025 Annual Meetin g, 98.2% of the votes cast approved our compensation practices. The Compensation Committee believes that the outcome of this vote reflects stockholder approval of the changes we have made to improve upon past pay practices . Beginning in fiscal 2022, our compensation program shifted from our legacy compensation practices to practices more aligned with our peers, including a twelve-month performance period for executive bonuses and performance-based equity that measures performance relative to that of the median company in the Russell 2000 Index over a three-year performance period. We view the stockholder vote at our 2025 Annual Meeting as an indication of support for the Compensation Committee’s approach, as well as its commitment to continuing to address stockholder concerns in the years ahead.

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#### Investor Engagement
We believe in listening to our stockholders. Each year, we conduct outreach to stockholders in order to solicit feedback on matters including our executive compensation and corporate governance practices. Last year, with the support of MacKenzie Partners, Inc., we reached out to o ur top 25 stoc kholders in advan ce of our 2025 Annual Meeting and spoke with every stockholder who accepted our invitation to meet. Feedback was generally positive and acknowledged the Company’s efforts to follow responsible governance practices. I n addition, throughout the year, we engage with our stockholders and we are available to discuss our executive compensation practices.

To ensure effective and transparent communication with our stockholders, we convey relevant information through our Investor Relations website, our Annual Report, and this Proxy Statement.

We