Company: PENG
Filing Date: 2025-06-30
Form Type: 8-K12B
Source: 0001193125-25-152807
Chunk: 11

Company: Penguin Solutions, Inc.
Filing Date: 2025-06-30
Form: 8-K12B
Chunk 11
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 no redemption or sinking fund provisions applicable to Penguin Solutions Delaware common stock.

Fully Paid and Non-Assessable All of the outstanding shares of Penguin Solutions Delaware common stock are fully paid and non-assessable. Preferred Stock General The Penguin Solutions Delaware Amended and Restated Certificate of Incorporation authorizes the Penguin Solutions Delaware Board to issue preferred stock in one or more series and to determine the preferences, limitations and relative rights of any shares of preferred stock that it shall choose to issue, without vote or action by the stockholders. Pursuant to this authority, the Penguin Solutions Delaware Board of Directors has created a series of 200,000 shares of preferred stock of Penguin Solutions Delaware having a par value of $0.03 per share, designated as convertible preferred stock (referred to herein as the Issued Convertible Preferred Stock), which has the rights, preferences, powers, privileges, designations and restrictions, including voting rights, dividend rights, conversion rights, company redemption rights and liquidation preferences provided for under Delaware law and the Certificate of Designation. Issued Convertible Preferred Stock Ranking Issued Convertible Preferred Stock ranks, with respect to dividend rights and rights upon voluntary or involuntary liquidation, dissolution or winding up of Penguin Solutions Delaware’s affairs:

| • |     | senior to all classes or series of Penguin Solutions Delaware common stock and all classes or series of Penguin Solutions Delaware capital stock now or hereafter authorized, issued or outstanding expressly designated as ranking junior to shares of Issued Convertible Preferred Stock; |

| • |     | on parity with any other class or series of Penguin Solutions Delaware capital stock expressly designated as ranking on parity with shares of Issued Convertible Preferred Stock; and |

| • |     | junior to any other class or series of Penguin Solutions Delaware capital stock expressly designated as ranking senior to Issued Convertible Preferred Stock, none of which exists on the date hereof. |

The term “capital stock” does not include convertible or exchangeable debt securities. Shares of Issued Convertible Preferred Stock will also rank junior in right of payment to other existing and future debt obligations. Dividends Holders of shares of Issued Convertible Preferred Stock are entitled to receive, whether or not there are funds legally available for the payment of dividends, cumulative dividends at the rate of 6.000% per annum on the sum of (i) the original issue price thereof, plus (ii) any compound dividends thereon (“ Accumulated Stated Value”). If, as and when declared by the Penguin Solutions Delaware Board, such