Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 96

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 96
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 |         — |     | $                                                                  | 1,150,148 |
|              |     | Prorated Bonus(2)            |     |                         |       — |     |       |         — |     |            |         — |     |                   |         — |     |                                                                    |         — |
|              |     | Equity Awards(3)             |     |                         |       — |     |       |         — |     |            |         — |     |                   | 2,074,022 |     |                                                                    | 2,852,142 |
|              |     | Continued Health Coverage(4) |     |                         |  22,432 |     |       |         — |     |            |         — |     |                   |         — |     |                                                                    |    44,208 |
|              |     | Life Insurance Benefit(5)    |     |                         |       — |     |       | 2,000,000 |     |            |         — |     |                   |         — |     |                                                                    |         — |
|              |     | Disability Benefit(6)        |     |                         |       — |     |       |         — |     |            | 2,067,772 |     |                   |         — |     |                                                                    |         — |

(1) Upon an involuntary termination on August 29, 2025, Mr. Clark would have received severance benefits including 75% of his base salary. Upon an involuntary termination during the Change in Control Protection Period on August 29, 2025, Mr. Clark would have received severance benefits including 150% of his base salary and 150% of the annual bonus paid or payable for the most recently completed fiscal year.

(2) Upon (i) an involuntary termination or (ii) an involuntary termination during the Change in Control Protection Period on August 29, 2025, Mr. Clark would have received his bonus for the fiscal year, prorated for his service during that year. These estimates are based on a deemed termination at the end of the fiscal year, so a prorated bonus has not been included.

(3) Upon a Change in Control on August 29, 2025, the PSUs granted on September 26, 2022, September 25, 2023, and September 30, 2024 would vest in accordance with their terms at 200% of the target level,