Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 8

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 8
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 request a copy of any of these documents free of charge by writing to our Secretary, c/o Penguin Solutions, Inc., 45800 Northport Loop West, Fremont, CA 94538 .

#### Board Composition and Refreshment
Our Board currently consists of eight me mbers. In accordance w ith our Amended and Restated Certificate of Incorporation, our Board is divided into three classes with staggered thr ee-year terms. At each annual meeting of stockholders, the directors or the successors to directors whose terms are set to expire will be elected to serve from the time of election and qualification until the third annual meeting following electio n. The number of directors may be changed by the affirmative vote of a majority of the directors.

Our directors are divided among the three classes as follows:

• Class I directors (formerly Class III directors) consist of Mark Adams, Bryan Ingram, and Mark Papermaster, whose terms expire at the Annual Meeting;

• Class II directors (formerly Class I directors) consi st of Sandeep Nayyar, Mary Puma, and Maximiliane Straub, whose terms expire at the 2027 annual meeting of stockholders; and

• Class III directors (formerly Class II directors) consist of Min Yong Ha and Penelope Herscher, whose t erms expire at the 2028 annual meeting of stockholders.

In connection with our U.S. Redomiciliation, all then-sitting directors of Penguin Solutions Cayman were appointed directors of Penguin Solutions Delaware and the three director classes were realigned solely for administrative continuity under our new governing documents. Specifically, the then‑sitting Class I directors became Class II directors, the then‑sitting Class II directors became Class III directors, and the then‑sitting Class III directors became Class I directors. This realignment did not change the length of any director’s remaining term, accelerate or extend any term, or alter the staggered nature of the Board.

The division of our Board into three classes with staggered three-year terms may delay or prevent a change of our management or a change in control.

Our Board recognizes the importance of board renewal to introduce new perspectives, backgrounds, and skillsets to the Board, while maintaining a balance with experience and continuity. In fiscal 2024, our Board amended our Corporate Governance Guidelines to provide that a director will generally not be nominated for re-election or reappointed to the Board after reaching the age of 75, although our Board in its discretion may nominate any such director for re-election if it determines that it