Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 75

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 75
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Penguin Solutions Delaware common stock will be entitled to one vote per share. Penguin Solutions Delaware stockholders will not be entitled to
cumulative voting for the election of directors. As a result, subject to the special rights of the holders of one or more outstanding series of preferred stock to elect directors, at a duly called or convened meeting of stockholders at which a
quorum is present, a plurality of the votes cast will be able to elect all of the directors then standing for election.

Conversion Rights

Shares of Penguin Solutions Delaware common stock are not convertible into any other security.

Dividends

Subject to preferences
that may be applicable to any then outstanding preferred shares, holders of Penguin Solutions Delaware common stock will be entitled to receive dividends, if any, as may be declared from time to time by the Penguin Solutions Delaware Board out of
legally available funds. Dividends may be paid in cash, in property or in shares of Penguin Solutions Delaware’s capital stock. Declaration and payment of any dividend will be subject to the discretion of the Penguin Solutions Delaware Board.
The time and amount of dividends will

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be dependent upon our results of operations, financial condition, contractual restrictions and capital requirements, the provisions of Delaware law affecting the payment of distributions to stockholders and any other factors the Penguin Solutions Delaware Board may consider relevant. Liquidation In the event of Penguin Solutions Delaware’s liquidation, dissolution or winding up, holders of Penguin Solutions Delaware common stock will be entitled to share ratably in the funds and net assets legally available for distribution to stockholders after the payment of all of Penguin Solutions Delaware’s debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then outstanding shares of preferred stock, including, if applicable, the Penguin Solutions Delaware convertible preferred stock. Pre-Emptive,Redemption and Similar Rights Holders of shares of Penguin Solutions Delaware common stock will not have pre-emptive,subscription, or redemption rights. There will be no redemption or sinking fund provisions applicable to Penguin Solutions Delaware’s common stock. Fully Paid and Non-Assessable All of the outstanding Penguin Solutions Delaware common stock will be fully paid and non-assessable. Preferred Stock General The Penguin Solutions Delaware amended and restated certificate of incorporation will authorize the Penguin Solutions Delaware Board to issue preferred stock in one or more series and to determine the preferences, limitations and relative rights of any shares of preferred stock that it shall choose to issue, without vote or action by the stockholders. Pursuant to this authority, the Penguin Solutions