Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 93

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 93
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 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. Frey 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. Frey would have received continued health coverage for up to eighteen months following his termination.

(5) Represents a life insurance benefit payable to Mr. Frey’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. Frey’s 65th birthday.

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The following table quantifies the payments and benefits that would have been provided to Ms. Kuykendall under different scenarios in connection with termination of her employment or a Change in Control, effective August 29, 2025 , the last day of our most recently completed fiscal year.

| Name            |     | Payment/Benefit Type         |     | Trigger Event           
 Involuntary Termination |         |     | Death |           |     | Disability |           |     | Change in Control |           |     | Involuntary Termination During Change in Control Protection Period |           |
|:----------------|:----|:-----------------------------|:----|:------------------------|--------:|:----|:------|----------:|:----|:-----------|----------:|:----|:------------------|----------:|:----|:-------------------------------------------------------------------|----------:|
| Anne Kuykendall |     | Severance(1)                 |     | $                       | 337,500 |     | $     |         — |     | $          |         — |     | $                 |         — |     | $                                                                  | 1,108,732 |
|                 |     | Prorated Bonus(2)            |     |                         |       — |     |       |         — |     |            |         — |     |                   |         — |     |                                                                    |         — |
|                 |     | Equity Awards