Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 97

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 97
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84.30% of the target level, and 100% of the target level, respectively. The value of these awards as of August 29, 2025 has been measured using a price of $24.13 per share, the closing price of our common stock on August 29, 2025. Upon an involuntary termination during the Change in Control Protection Period on August 29, 2025, Mr. Clark would have vested in 100% of his outstanding unvested equity awards. Pursuant to SEC guidance, the value of any accelerated vesting of Mr. Clark’s equity awards has been estimated using a price of $24.13 per share, the closing price of our common stock on August 29, 2025.

(4) Upon an involuntary termination on August 29, 2025, Mr. Clark would have received continued health coverage for up to nine months following his termination. Upon an involuntary termination during the Change in Control Protection Period on August 29, 2025, Mr. Clark would have received continued health coverage for up to eighteen months following his termination.

(5) Represents a life insurance benefit payable to Mr. Clark’s beneficiaries with a face value of seven times his base salary as in effect on August 29, 2025, with a maximum benefit of $2,000,000.

(6) Represents the present value of a weekly short-term disability benefit for 52 weeks following termination on August 29, 2025, followed by a monthly long-term disability benefit until the month of Mr. Clark’s 65th birthday.

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#### Pay Ratio
In accordance with the requirements of Section 953(b) of the Dodd-Frank Act and Item 402(u) of Regulation S-K (collectively, the “Pay Ratio Rule”), we are providing the following estimated information for fiscal 2025:

• The annual total compensation of our median employee (excluding our President and CEO) was $44,715;

• The annual total compensation of our President and CEO was $11,711,497; and

• The ratio of these two amounts was 262 to 1. We believe that this ratio is a reasonable estimate calculated in a manner consistent with the requirements of the Pay Ratio Rule.

SEC rules for identifying the median employee compensation and calculating the pay ratio allow companies to apply various methodologies and assumptions. As a result, the pay ratio reported by us may not be comparable to the pay ratio reported by other companies. For