Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 54

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 54
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 | Annually                                                                                                    |     | Annually                                                                                                                                                                                        |
| Form of Delivery             |     | Cash                                 |     | Cash                                                                                                                                         |     | Equity                                                                                                      |     | Equity                                                                                                                                                                                          |
| Type of Performance          |     | Short-term emphasis, fixed           |     | Short-term emphasis, variable                                                                                                                |     | Long-term emphasis, variable                                                                                |     | Long-term emphasis, variable                                                                                                                                                                    |
| Performance / Vesting Period |     | Annual, fixed                        |     | One-year performance period                                                                                                                  |     | Quarterly vesting over a four-year period, subject to continued service through the applicable vesting date |     | Three-year performance period                                                                                                                                                                   |
| How Payout Is Determined     |     | Compensation Committee determination |     | Compensation Committee determination based upon attainment of performance condition(s) previously approved by the Compensation Committee     |     | Service throughout the vesting period                                                                       |     | Compensation Committee certification of attainment of performance condition(s) previously approved by Compensation Committee and service throughout performance period and through vesting date |
| 2025 Performance Measures    |     | Individual                           |     | Performance is weighted 75% based on financial performance (net sales and non-GAAP operating income) and 25% based on individual performance |     | Stock price                                                                                                 |     | Total stockholder return relative to Russell 2000 (and for the CEO, the compound annual growth rate of the Company’s stock price)                                                               |

* This chart illustrates the principal elements of the Company’s annual executive compensation program. As referenced above, this chart does not capture the pay elements of Mr. Frey’s fiscal 2025 compensation as he joined the Company in August 2025 and did not participate in the Company’s standard annual executive compensation program for fiscal 2025.

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#### Our Executive Compensation Practices
The Compensation Committee reviews our executive compensation program on an ongoing basis in order to evaluate it against our executive compensation philosophies and objectives as well as stockholder interests. The Compensation Committee established the following practices in order to achieve our executive compensation objectives:

| Our Executive Compensation Practices |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| ✔                                    |     | Substantial percentage of target annual compensation is at risk and delivered in the form of variable compensation tied to financial performance measured against pre-established targets based on financial metrics in our annual operating plan, or tied to performance of our stock price or total stockholder return                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| ✔                                    |     | Em