Company: PENG
Filing Date: 2025-12-19
Form Type: DEF 14A
Source: 0001616533-25-000073
Chunk: 64

Company: Penguin Solutions, Inc.
Filing Date: 2025-12-19
Form: DEF 14A
Chunk 64
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 decreased to 98.5%.

Fiscal 2025 Target and Payout Amounts for Then-Serving NEOs . The table below sets forth the fiscal 2025 cash incentive targets established in September 2024 for each of our then-serving NEOs and the fiscal 2025 cash incentive payouts to each of our NEOs who ser ved at least 50% of the working days in fiscal 2025 bas ed upon fiscal 2025 performance.

|                 | Named Executive Officer |   | 2025 Cash 
 Incentive 
    Target |     |     |       Financial 
     Performance 
 Factor – Before 
    Accelerator/ 
     Decelerator 
  (weighted 75%) |   |     |      Financial 
    Performance 
 Factor – After 
   Accelerator/ 
    Decelerator 
 (weighted 75%) |   |     | Individual Performance Factor(1) 
                   (weighted 25%) |   |   |            Total 2025 
 Cash Incentive Payout |
|:----------------|:------------------------|:--|----------:|:----|:----|----------------:|:--|:----|---------------:|:--|:----|---------------------------------:|:--|:--|----------------------:|
| Mark Adams      |                         | $ | 1,112,500 |     |     |            99.4 | % |     |           98.5 | % |     |                            100.0 | % | $ |             1,099,777 |
| Nate Olmstead   |                         | $ |   400,000 |     |     |            99.4 | % |     |           98.5 | % |     |                            100.0 | % | $ |               395,425 |
| Anne Kuykendall |                         | $ |   292,500 |     |     |            99.4 | % |     |           98.5 | % |     |                            100.0 | % | $ |               289,155 |
| Joseph Clark    |                         | $ |   337,500 |     |     |            99.4 | % |     |           98.5 | % |     |                             80.0 | % | $ |               316,765 |
| Pete Manca(2)   |                         | $ |   461,538 |     |