Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 104

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 104
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 of the Board to nine members, and upon the recommendation of the NCG Committee, the Board appointed Mr. Ha to the Board as SKT’s designee, effective immediately. Except for the SKT Purchase Agreement, the Investor Agreement, and the Cayman Certificate of Designation, Mr. Ha was not selected pursuant to any arrangement or understanding between him and any other person. There are no family relationships between Mr. Ha and any director or executive officer of the Company, and except as described above, Mr. Ha does not have a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Master Purchase and Services Agreement with SKT . On May 26, 2025, we entered into an agreement with SKT, under which we subsequently entered into statements of work to provide solutions to support SKT’s future AI data center infrastructure initiatives. In fiscal 2025, we recognized a total transaction amount of $50.7 million for cash received for payment on the fulfillment of AI hardware solutions and installation services, of which $32.4 million of the order was completed and recognized as revenue in fiscal 2025, and the remaining $18.3 million was recorded as contract liability as of the end of fiscal 2025. During the fiscal quarter ended November 28, 2025, we recognized revenue of $32.2 million on the fulfillment of AI hardware solutions and installation services, and managed services. As of November 28, 2025, $15.1 million remained outstanding in accounts receivable.

#### Indemnification
We have entered into indemnification agreements with our directors and executive officers. The indemnification agreements provide our directors and executive officers with indemnification, to the maximum extent permitted by Delaware law.

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### Procedures for Approval of Related Person Transactions
Pursuant to our written Audit Committee charter, the Audit Committee must review all related person transactions required to be disclosed in our financial statements and approve any such related person transaction, unless the transaction is approved by another independent committee of our Board.

In furtherance of this requirement, the Board has adopted a Related Person Transaction Policy that is in conformity with the requirements for companies having shares of common stock listed on Nasdaq. This policy addresses the reporting, review, and approval or ratification of transactions with related persons, and applies to the following persons (each, a “Related Person”):

• Any of our directors or executive officers;

• Any nominee for