Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 79

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 79
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 | -4 |     | $                                                   |   396,730 |
| Pete Manca      |     |              |     | $                                                                    | — |     | $ |   500,000 |     | $         | 1,000,000 |     |        |     |                                                                |     |      — |     |       — |     |       — |     |                                                            |     |       — |    |     | $                                                   |         — |
|                 |     | 9/30/2024(6) |     | $                                                                    | — |     | $ |         — |     | $         |         — |     |        |     |                                                                |     | 12,625 |     |  25,250 |     |  50,500 |     |                                                            |     |       — |    |     | $                                                   |   858,248 |
|                 |     | 9/30/2024(6) |     | $                                                                    | — |     | $ |         — |     | $         |         — |     |        |     |                                                                |     |      — |     |       — |     |       — |     |                                                            |     |  25,250 | -4 |     | $                                                   |   528,988 |

(1) For Messrs. Adams, Olmstead, Clark, and Manca, and Ms. Kuykendall, these amounts represent an opportunity to earn an annual cash incentive award based on attainment of pre-established goals as described in detail in the “ Short-Term Cash Incentive Compensation ” section above. Payouts of such cash incentive awards may range from $0 to the applicable maximum as set forth above. Therefore, no amounts are included in the “Threshold” column. Additionally, Mr. Manca’s employment with the Company terminated in August 2025, and he was only eligible to receive a prorated cash incentive payout amount with respect to the portion of fiscal 2025 for which he provided services as an employee.

(2) These PSUs will vest on the date of the Compensation Committee’s certification of our performance following the end of a three-year performance period contingent upon the NEO’s continued employment through the vesting date and the Compensation Committee certifying that the Company’s total stockholder return during the performance period relative to that of the median company in the Russell 2000 Index equals or exceeds the applicable threshold level of performance. For Mr