Company: PENG
Filing Date: 2025-06-30
Form Type: 8-K12B
Source: 0001193125-25-152807
Chunk: 7

Company: Penguin Solutions, Inc.
Filing Date: 2025-06-30
Form: 8-K12B
Chunk 7
---
man. The assumed awards and rights will continue to have substantially the same terms and conditions that applied prior to the consummation of the Redomiciliation Transaction, provided that securities issuable in connection with awards thereunder will be in shares of common stock of Penguin Solutions Delaware rather than ordinary shares of Penguin Solutions Cayman. A description of the material terms of the Amended and Restated 2017 Stock Incentive Plan is included in Penguin Solutions Cayman’s definitive proxy statement on Schedule 14A filed with the SEC on December 21, 2020, which description is incorporated herein by reference. A description of the material terms of the Amended and Restated 2018 Employee Stock Purchase Plan is included in Penguin Solutions Cayman’s definitive proxy statement on Schedule 14A filed with the SEC on December 15, 2017, which description is incorporated herein by reference. The Amended and Restated 2017 Stock Incentive Plan, the Amended and Restated 2021 Inducement Plan and the Amended and Restated 2018 Employee Stock Purchase Plan are filed as Exhibits 10.3, 10.4 and 10.5, respectively, hereto and incorporated herein by reference.

Named Executive Officer Agreements Effective upon the completion of the Redomiciliation Transaction, Penguin Solutions Delaware assumed the following agreements with its named executive officers: the Transition Agreement between SMART Modular Technologies, Inc. and Jack Pacheco, dated as of April 2, 2025 (the “ Transition Agreement”) and the Offer Letters between Penguin Solutions Cayman and each of Mark Adams (dated August 12, 2020), Anne Kuykendall (amended and restated as of September 25, 2023), Peter Manca (amended and restated as of May 23, 2024), and Nate Olmstead (dated June 18, 2024) (the “ Offer Letters,” and together with the Transition Agreement, the “ Executive Agreements”). A description of the material terms of the Transition Agreement is included in Penguin Solutions Cayman’s current report on Form 8-Kfiled with the SEC on April 2, 2025, which description is incorporated herein by reference, and a description of the material terms of the Offer Letters is included in Penguin Solutions Cayman’s definitive proxy statement on Schedule 14A filed with the SEC on December 20, 2024 under the headings “Employment and Severance Arrangements” and “