Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 21

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 21
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 The NCG Committee held four meetings during fiscal 2025. The Board determined that Mses. Herscher and Straub and Mr. Ingram are all independent within the meaning of the Nasdaq rules.

The NCG Committee is governed by a written charter that can be found in the Governance section of the Investors section of our website at ir.penguinsolutions.com . The NCG Committee charter complies with the guidelines established by Nasdaq.

The charter of the NCG Committee grants the NCG Committee authority to retain and terminate any advisors, including search firms to identify director candidates, and sole authority to approve all such advisors’ fees and other retention terms. In selecting candidates for recommendation to the Board, the NCG Committee considers the long-term interests of the stockholders, our needs, and the appropriate skills, characteristics, and experience of the candidates, including multiple factors that are more fully described below. In addition to candidates identified by Board members, the NCG Committee considers candidates proposed by stockholders and evaluates them using the same criteria. A stockholder who wishes to suggest a candidate for the NCG Committee’s consideration should follow the procedures described under the heading “ When are other proposals and stockholder nominations for next year’s annual meeting due? ”

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Listed below are the skills and experience that we consider most important for our directors in light of our current business and structure.

• Independence : To ensure the Board acts in the best interests of our stockholders, we seek to identify candidates who would be considered independent directors.

• Senior Leadership Experience : Directors who have served in senior leadership positions are important to us because they have the experience and perspective to analyze, shape, and oversee the execution of important operational and policy issues.

• Experience in Semiconductor and Electronic Equipment Manufacturing : Because we are a leader in the design and manufacturing of specialty solutions for the computing, memory, and LED markets, understanding of and experience with manufacturing and other operational processes is a valuable asset to the Board.

• Technical Expertise : Because we design and manufacture specialty high-performance computing and AI solutions, education or experience in relevant technology is useful for understanding our R&D efforts, competing technologies, the products and processes we develop, our manufacturing and assembly and test operations, and the market segments in which we compete.

• Sales and Marketing Experience : Directors with sales, marketing, and brand management experience can provide expertise and guidance as we seek to grow sales and enhance our brand.

• Government and International Experience : We are a global organization with R&D, manufacturing, assembly