Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 83

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 83
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2) |           |
|:----------------|:----|:--------------------------------------|:--|:----|:------------------------------|:--|:----|:-------------------------------------|--------:|:----|:-----------------------------|----------:|
| Mark Adams      |     |                                       | — |     | $                             | — |     |                                      | 264,985 |     | $                            | 4,466,719 |
| Nate Olmstead   |     |                                       | — |     | $                             | — |     |                                      |  20,066 |     | $                            |   470,535 |
| Tony Frey       |     |                                       | — |     | $                             | — |     |                                      |       — |     | $                            |         — |
| Anne Kuykendall |     |                                       | — |     | $                             | — |     |                                      |  37,843 |     | $                            |   677,355 |
| Joseph Clark    |     |                                       | — |     | $                             | — |     |                                      |  30,944 |     | $                            |   569,765 |
| Pete Manca      |     |                                       | — |     | $                             | — |     |                                      |  37,871 |     | $                            |   678,850 |

(1) Values were determined based on the difference between the fair market value of our common stock on the date of exercise and the exercise price of the options.

(2) Values were determined based on the fair market value of our common stock on the vesting date.

<div align='center'>63</div>

Employment and Severance Agreements; Potential Payments upon Termination or Change in Control

#### Offer Letters
We have entered into agreements with our NEOs pursuant to which such officers will be eligible for severance and/or change in control benefits under specified conditions. The following summarizes the severance and change in control benefits under these agreements.

We entered into offer of employment letters with each of Messrs. Adams, Olmstead, Frey, and Manca, and Ms. Kuykendall in connection with the commencement of their employment, an offer letter with Mr. Clark in connection with his promotion in August 2022, an amended and restated offer letter with Ms. Kuykendall in connection with her promotion in September 2023, an amended and restated offer letter with Mr. Manca