Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 80

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 80
---
. Adams, the payout under the PSUs ranges from 50% of target at threshold to a maximum of 300% of target based on the increase to the compound annual growth rate of the Company’s stock price in addition to the Company’s relative total stockholder return performance, and for Messrs. Olmstead, Frey, Clark, and Manca, and Ms. Kuykendall, payouts under the PSUs range from 50% of target at threshold to a maximum of 200% of target, as described in the “ Equity Compensation ” section above.

<div align='center'>61</div>

(3) The amounts reported represent the grant date fair values associated with the grants of RSUs and PSUs, as computed in accordance with FASB ASC Topic 718. See our Equity Plans Note to the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended August 29, 2025 for the assumptions used in calculating these amounts. The fair values of PSUs granted in September 2024 and August 2025 were determined as of the date of grant using the Monte Carlo simulation method, which utilizes multiple input variables to estimate the probability of meeting the performance objectives established for the award, including the expected volatility of our stock price relative to the group of peer companies listed in “ How We Make Executive Compensation Decisions – Comparison to Relevant Peer Group ” above at the end of the three-year performance period and risk-free interest rates of 3.55% and 3.65%, respectively, derived from linear interpolation of the term structure of Treasury Constant Maturities yield rates for such periods.

(4) These RSUs vested as to 6.25% of the shares on January 20, 2025 and continue to vest in 15 equal quarterly installments thereafter, subject to the NEO’s continued service through each applicable vesting date.

(5) These RSUs vest as to 25% on October 20, 2026 and continue to vest in 12 equal quarterly installments over the following three years, subject to the NEO’s continued service through each applicable vesting date.

(6) Mr. Manca’s employment with the Company terminated in August 2025, and as a result, his PSUs and the unvested portion of his RSUs listed on this table have been forfeited and returned to the Company.

#### Outstanding Equity Awards at 2025 Fiscal Year End
The following table sets forth information regarding options, RS