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

Company: Penguin Solutions, Inc.
Filing Date: 2025-06-30
Form: 8-K12B
Chunk 8
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Employment and Severance Agreements; Potential Payments upon Termination or Change in Control”, which description is incorporated herein by reference. The Offer Letters are filed as Exhibits 10.6, 10.7, 10.8 and 10.9 hereto and incorporated herein by reference. A copy of the Transition Agreement will be filed as an exhibit to the Company’s quarterly report on Form 10-Qfor the third quarter of fiscal year 2025. Cash Incentive Bonus Plan Effective as of the completion of the Redomiciliation Transaction, Penguin Solutions Delaware assumed the executive bonus plan for fiscal year 2025 (the “ Cash Incentive Bonus Plan”) that was in place at Penguin Solutions Cayman. Under the Cash Incentive Bonus Plan, executive officers are eligible for incentive awards which are earned based on the achievement of financial performance goals and an assessment of individual performance as determined by the Compensation Committee of the Board. In connection with the assumption of the Cash Incentive Bonus Plan, Penguin Solutions Delaware continued the target bonus opportunities and performance goals for fiscal year 2025 that were established by Penguin Solutions Cayman. Director Compensation Effective as of the completion of the Redomiciliation Transaction, Penguin Solutions Delaware adopted a director compensation policy for its independent directors. The terms of such director compensation policy are substantially the same as the terms of the director compensation policy maintained by Penguin Solutions Cayman immediately prior to the Redomiciliation Transaction (the “ Penguin Solutions Delaware Independent Director Compensation Policy”). A description of the material terms of the Penguin Solutions Delaware Independent Director Compensation Policy is included in Penguin Solutions Cayman’s definitive proxy statement on Schedule 14A filed with the SEC on December 20, 2024 under the heading “Director Compensation”, which description is incorporated herein by reference. The Penguin Solutions Delaware Independent Director Compensation Policy is filed as Exhibit 10.2 hereto and incorporated herein by reference.

| Item 5.03 | Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. |

In connection with the Redomiciliation Transaction, Penguin Solutions Delaware filed an Amended and Restated Certificate of Incorporation on June 27, 2025, a copy of which is attached hereto as Exhibit 3.1. Additionally, on June 27, 2025, in connection with the Redomiciliation Transaction, Penguin Solutions Delaware executed and adopted a Certificate of Designation of Convertible Preferred Stock (the “ Certificate of Designation”) that sets forth the terms, rights and obligations of the Issued Convert