# EDGAR Filing Document

**Accession Number:** 0001616533
**File Stem:** 0001616533-26-000034
**Filing Date:** 2026-4
**Character Count:** 27739
**Document Hash:** 5a210bc591a02c60cdb5fbe4f1c62d60
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001616533-26-000034.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0001616533-26-000034

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 16

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**EFFECTIVENESS DATE**: 20260401

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Penguin Solutions, Inc.
- **CENTRAL INDEX KEY:** 0001616533
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 365142687
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0829

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-294832
- **FILM NUMBER:** 26828976

**BUSINESS ADDRESS:**
- **STREET 1:** 45800 NORTHPORT LOOP WEST
- **CITY:** FREMONT
- **STATE:** CA
- **ZIP:** 94538
- **BUSINESS PHONE:** (510) 623-1231

**MAIL ADDRESS:**
- **STREET 1:** 45800 NORTHPORT LOOP WEST
- **CITY:** FREMONT
- **STATE:** CA
- **ZIP:** 94538

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMART Global Holdings, Inc.
- **DATE OF NAME CHANGE:** 20140813

**As filed with the Securities and Exchange Commission on April 1, 2026**

**Registration No. 333-**

    

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER THE SECURITIES ACT OF 1933***

![image_0.jpg](image_0.jpg)

**PENGUIN SOLUTIONS, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **36-5142687** |
| (State or Other Jurisdiction of <br> Incorporation or Organization) | (I.R.S. Employer <br> Identification No.) |
| **45800 Northport Loop West&nbsp;&nbsp;&nbsp;&nbsp;**<br>**Fremont, CA** | **94538** |
| (Address of Principal Executive Offices) | (Zip Code) |
| **Penguin Solutions, Inc. Amended and Restated 2021 Inducement Plan**<br>(Full Title of the Plan) | **Penguin Solutions, Inc. Amended and Restated 2021 Inducement Plan**<br>(Full Title of the Plan) |

---

---

| |
|:---|
| **Anne Kuykendall**<br>**Senior Vice President, Chief Legal Officer,**<br> **and Secretary**<br>**Penguin Solutions, Inc.**<br>**45800 Northport Loop West**<br>**Fremont, CA 94538** |
| **(510) 623-1231** |
| (Name and Address of Agent for Service) (Telephone Number, including Area Code, of Agent for Service) |

---

---

| | |
|:---|:---|
| *With copies to:* | *With copies to:* |
| Mark M. Bekheit, Esq.<br>Erica D. Kassman, Esq.<br>Latham & Watkins LLP<br>140 Scott Drive<br>Menlo Park, CA 94025<br>(650) 328-4600 | Anne Kuykendall<br>Senior Vice President, Chief Legal Officer,<br>and Secretary<br>Penguin Solutions, Inc.<br>45800 Northport Loop West<br>Fremont, CA 94538<br>(510) 623-1231 |

---

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****

<br> Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| | | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

------

****

<br> **EXPLANATORY NOTE**

This Registration Statement on Form S-8 (this "**Registration Statement**") is being filed with the Securities and Exchange Commission (the "**Commission**") by Penguin Solutions, Inc., a Delaware corporation (the "**Registrant**"), as successor issuer to Penguin Solutions (Cayman), Inc. (formerly known as Penguin Solutions, Inc.), a Cayman Islands exempted company ("**Penguin Solutions Cayman**"). On June 30, 2025, the Registrant completed the redomiciliation of Penguin Solutions Cayman, from the Cayman Islands to the State of Delaware in the United States, resulting in the Registrant becoming our publicly traded parent company (the "**Redomiciliation**"). In connection with the Redomiciliation, among other things, the Registrant assumed Penguin Solutions Cayman's obligations in connection with awards granted under Penguin Solutions Cayman's equity incentive plans, assumed and amended and restated such plans, and amended such awards as necessary to provide for the issuance of shares of the Registrant's common stock rather than the ordinary shares of Penguin Solutions Cayman upon the exercise or vesting of awards or purchase of shares.

On June 30, 2025, the Registrant filed post-effective amendments to each of the following registration statements on Form S-8, pursuant to which the Registrant expressly adopted each registration statement as its own for purposes of the Securities Act of 1933, as amended (the "**Securities Act**"), and the Securities Exchange Act of 1934, as amended (the "**Exchange Act**") (collectively and including the post-effective amendments to each of the following registration statements, the "**Prior Registration Statements**"): the Registration Statements on Form S-8 filed by Penguin Solutions Cayman with the Commission on <u>[February 12, 2021](https://www.sec.gov/Archives/edgar/data/1616533/000095010321002255/dp146079_s8.htm)</u> (Registration No. 333-253064), <u>[April 4, 2023](https://www.sec.gov/Archives/edgar/data/1616533/000119312523091043/d488086ds8.htm)</u> (Registration No. 333-271123), <u>[April 9, 2024](https://www.sec.gov/Archives/edgar/data/1616533/000119312524090976/d815520ds8.htm)</u> (Registration No. 333-278587), and <u>[April 2, 2025](https://www.sec.gov/Archives/edgar/data/1616533/000162828025016226/peng-formsx8q220252021indu.htm)</u> (Registration No. 333-286347). The Prior Registration Statements are currently effective.

The Registrant is hereby registering an aggregate of 65,673 additional shares of common stock of the Registrant, $0.03 par value per share (the "**Shares**"), for issuance under the Registrant's Amended and Restated 2021 Inducement Plan (the "**Inducement Plan**") that became available for issuance under the Inducement Plan as a result of forfeitures of outstanding awards pursuant to Section 4(a) of the Inducement Plan.

Pursuant to General Instruction E of Form S-8 regarding Registration of Additional Securities, the contents of the Prior Registration Statements are incorporated by reference in this Registration Statement to the extent not modified or replaced hereby or by any subsequently filed document which is incorporated by reference herein or therein.

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

The information called for in Part I of Form S-8 is not being filed with or included in this Registration Statement (by incorporation by reference or otherwise) in accordance with the rules and regulations of the Commission. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the equity benefit plans covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act. These documents and the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

------

****

<br> **PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference.**

The following documents filed by the Registrant with the Commission are incorporated by reference into this Registration Statement to the extent not replaced hereby:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;The Registrant's Annual Report on Form 10-K for the fiscal year ended August 29, 2025 (the "Annual Report"), filed with the Commission on October 21, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;The Registrant's Quarterly Reports on Form 10-Q for the fiscal quarters ended November 28, 2025 and February 27, 2026, filed with the Commission on January 6, 2026 and April 1, 2026, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Registrant's Current Reports on Form 8-K filed with the Commission on October 7, 2025 (solely with respect to Item 8.01), December 30, 2025, February 2, 2026 (solely with respect to Item 5.02), February 11, 2026, and April 1, 2026 (solely with respect to Item 8.01).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) &nbsp;&nbsp;&nbsp;&nbsp;The description of the Registrant's capital stock contained in Exhibit 4.1 to the Registrant's Annual Report, including any amendments or reports filed for the purpose of updating such description.

All reports that the Registrant subsequently files pursuant to Sections 13(a) and 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this Registration Statement, which indicates that all securities offered hereunder have been sold or which deregisters all such securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such reports and documents. Unless expressly incorporated in this Registration Statement, a report furnished on Form 8-K shall not be incorporated by reference into this Registration Statement. Under no circumstances will any information filed under current Items 2.02 or 7.01 of Form 8-K, and exhibits furnished on such form that relate to such items, be deemed incorporated herein by reference unless such Form 8-K expressly provides to the contrary.

Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document that also is or is deemed to be incorporated by reference herein modifies or supersedes such earlier statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

------

****

<br> **Item 8. Exhibits**

**INDEX TO EXHIBITS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** |
| <br>**Exhibit Number**  | <br>**Description** | <br>**Filed Herewith** | **Form** | **Date** | **Exhibit Number** | **File Number** |
| 4.1 | <u>[Amended and Restated Certificate of Incorporation of Penguin Solutions, Inc., effective as of June 27, 2025](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152807/d936172dex31.htm)</u> |  | 8-K12B | 06/30/2025 | 3.1 | 001-38102 |
| 4.2 | <u>[Certificate of Designation of Convertible Preferred Stock, effective as of June 27, 2025](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152807/d936172dex32.htm)</u> |  | 8-K12B | 06/30/2025 | 3.2 | 001-38102 |
| 4.3 | <u>[Amended and Restated Bylaws of Penguin Solutions, Inc., effective as of June 30, 2025](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152807/d936172dex33.htm)</u> |  | 8-K12B | 06/30/2025 | 3.3 | 001-38102 |
| 4.4 | <u>[F](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex41.htm)[orm](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex41.htm)[of Common Stock Ce](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex41.htm)[rtificate](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex41.htm)</u> |  | S-8 POS | 06/30/2025 | 4.1 | 333-286347 |
| 5.1 | <u>[Opinion of](peng-2026formsx8ex51opinio.htm)[Latham & Watkins](peng-2026formsx8ex51opinio.htm)[LLP](peng-2026formsx8ex51opinio.htm)</u> | X |  |  |  |  |
| 23.1 | <u>[Consent of Independent Registered Public Accounting Firm of the Registrant](peng-2026formsx8ex231deloi.htm)</u> | X |  |  |  |  |
| 23.2 | <u>[Consent of](peng-2026formsx8ex51opinio.htm)[Latham & Watkins](peng-2026formsx8ex51opinio.htm)[LLP (included in Exhibit 5.1)](peng-2026formsx8ex51opinio.htm)</u> | X |  |  |  |  |
| 24.1 | <u>[Power of Attorney (included on the signature page of this Registration Statement)](#i530527748441418f92b4f51f7843cd86_13)</u> | X |  |  |  |  |
| 99.1 | <u>[The Registrant's](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152807/d936172dex105.htm)[Amende](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152807/d936172dex105.htm)[d and Restated](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152807/d936172dex105.htm)[2021 Inducement Plan](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152807/d936172dex105.htm)</u> |  | 8-K12B | 06/30/2025 | 10.5 | 001-38102 |
| 99.2 | <u>[The Registrant's Form of Restricted Stock Unit Award Agreement (Stock-Settled) under](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex996.htm)[the](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex996.htm)[Penguin Solutions, Inc. Amended and Restated 2021 Inducement Plan](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex996.htm)</u> |  | S-8 POS | 06/30/2025 | 99.6 | 333-286347 |
| 99.3 | <u>[The Registrant's Form of Restricted Stock Unit Award Agreement (Cash-Settled) under](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex997.htm)[the](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex997.htm)[Penguin Solutions, Inc. Amended and Restated 2021 Inducement Plan](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex997.htm)</u> |  | S-8 POS | 06/30/2025 | 99.7 | 333-286347 |
| 99.4 | <u>[The Registrant's Form of Performance Stock Unit Award Agreement under](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex999.htm)[the](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex999.htm)[Penguin Solutions, Inc. Amended and Restated 2021 Inducement Plan](https://www.sec.gov/Archives/edgar/data/1616533/000119312525152888/d33122dex999.htm)</u> |  | S-8 POS | 06/30/2025 | 99.9 | 333-286347 |
| 107.1 | <u>[Calculation of Filing Fee Table](exfilingfees.htm)</u> | X |  |  |  |  |

---

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<br> **SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant, Penguin Solutions, Inc., certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Fremont, State of California, on April 1, 2026.

---

| | |
|:---|:---|
| **Penguin Solutions, Inc.** | **Penguin Solutions, Inc.** |
| By: | /s/ Anne Kuykendall |
|  | Anne Kuykendall |
|  | Senior Vice President, Chief Legal Officer and Secretary |

---

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****

<br> **POWER OF ATTORNEY AND SIGNATURES**

Know all persons by these presents, that each person whose signature appears below, constitutes and appoints each of Kash Shaikh, Nate Olmstead and Anne Kuykendall as his or her true and lawful attorney-in-fact and agent, upon the action of such appointee, with full power of substitution and resubstitution, to do any and all acts and things and execute, in the name of the undersigned, any and all instruments which each of said attorneys-in-fact and agents may deem necessary or advisable in order to enable Penguin Solutions, Inc. to comply with the Securities Act of 1933, as amended (the "**Securities Act**"), and any requirements of the Commission in respect thereof, in connection with the filing with the Commission of this Registration Statement under the Securities Act, including specifically but without limitation, power and authority to sign the name of the undersigned to such Registration Statement, and any amendments to such Registration Statement (including post-effective amendments), and to file the same with all exhibits thereto and other documents in connection therewith, with the Commission, to sign any and all applications, registration statements, notices or other documents necessary or advisable to comply with applicable state securities laws, and to file the same, together with other documents in connection therewith with the appropriate state securities authorities, granting unto each of said attorneys-in-fact and agents full power and authority to do and to perform each and every act and thing requisite or necessary to be done in and about the premises, as fully and to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that each of said attorneys-in-fact and agents may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Kash Shaikh | President, Chief Executive Officer and Director | April 1, 2026 |
| Kash Shaikh | (Principal Executive Officer) |  |
| /s/ Nate Olmstead | Senior Vice President and Chief Financial Officer | April 1, 2026 |
| Nate Olmstead | (Principal Financial and Accounting Officer) |  |
| /s/ Penelope Herscher | Chairperson of the Board of Directors | April 1, 2026 |
| Penelope Herscher |  |  |
| /s/ Min Yong Ha | Director | April 1, 2026 |
| Min Yong Ha |  |  |
| /s/ Sandeep Nayyar | Director | April 1, 2026 |
| Sandeep Nayyar |  |  |
| /s/ Mark Papermaster | Director | April 1, 2026 |
| Mark Papermaster |  |  |
| /s/ Mary Puma | Director | April 1, 2026 |
| Mary Puma |  |  |
| /s/ Maximiliane Straub | Director | April 1, 2026 |
| Maximiliane Straub |  |  |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? exfilingfees

**EXHIBIT 107.1**

**Calculation of Filing Fee Table**

**FORM S-8**

(Form Type)

**PENGUIN SOLUTIONS, INC.**

(Exact name of registrant as specified in its charter)

<u>Table 1: Newly Regist</u><u>ered Securities</u>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Type** | **Security Class Title** | **Fee Calculation Rule** | **Amount Registered**<sup>(1)</sup> | **Amount Registered**<sup>(1)</sup> | **Proposed Maximum Offering Price Per Unit** | **Proposed Maximum Offering Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| Equity | Common stock, $0.03 par value per share | Rules 457(c) and 457(h) | 65673 | <sup>(2)</sup> | $16.46 | <sup>(3)</sup> | $1080977.58 | 0.0001381 | $149.28 |
| **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  |  | $1080977.58 |  | $149.28 |
| **Total Fee Offsets**<sup>(4)</sup> | **Total Fee Offsets**<sup>(4)</sup> | **Total Fee Offsets**<sup>(4)</sup> | **Total Fee Offsets**<sup>(4)</sup> | **Total Fee Offsets**<sup>(4)</sup> |  |  |  |  | $— |
| **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  |  | $149.28 |

---

1. In the event of a stock split, stock dividend or similar transaction involving the Registrant's common stock, $0.03 par value per share, the number of shares of common stock registered hereby shall automatically be adjusted in accordance with Rule 416 under the Securities Act of 1933, as amended (the "**Securities Act**").

2. Represents shares of common stock that became available for issuance under the Registrant's Amended and Restated 2021 Inducement Plan (the "**Inducement Plan**") as a result of forfeitures of outstanding awards pursuant to Section 4(a) of the Inducement Plan.

3. Estimated in accordance with Rules 457(c) and (h) under the Securities Act solely for the purpose of calculating the registration fee on the basis of the average of the high and low prices of a share of the Registrant's common stock on March 30, 2026 as reported on the Nasdaq Global Select Market.

4. The Registrant does not have any fee offsets.

## Exhibit 5.1

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**EXHIBIT 5.1**

---

| | |
|:---|:---|
| | 140 Scott Drive<br>Menlo Park, California 94025<br>Tel: +1.650.328.4600 Fax: +1.650.463.2600<br>www.lw.com<br>FIRM / AFFILIATE OFFICES<br>Austin&nbsp;&nbsp;&nbsp;&nbsp; Milan<br>Beijing&nbsp;&nbsp;&nbsp;&nbsp; Munich<br>Boston&nbsp;&nbsp;&nbsp;&nbsp; New York<br>Brussels&nbsp;&nbsp;&nbsp;&nbsp; Orange County<br>Chicago&nbsp;&nbsp;&nbsp;&nbsp; Paris<br>Dubai&nbsp;&nbsp;&nbsp;&nbsp; Riyadh<br>Düsseldorf&nbsp;&nbsp;&nbsp;&nbsp; San Diego<br>Frankfurt&nbsp;&nbsp;&nbsp;&nbsp; San Francisco<br>Hamburg &nbsp;&nbsp;&nbsp;&nbsp; Seoul<br>Hong Kong Silicon Valley<br>Houston Singapore<br>London Tel Aviv<br>Los Angeles Tokyo<br>Madrid&nbsp;&nbsp;&nbsp;&nbsp; Washington, D.C. |
| ![lwlogoa.jpg](lwlogoa.jpg) | 140 Scott Drive<br>Menlo Park, California 94025<br>Tel: +1.650.328.4600 Fax: +1.650.463.2600<br>www.lw.com<br>FIRM / AFFILIATE OFFICES<br>Austin&nbsp;&nbsp;&nbsp;&nbsp; Milan<br>Beijing&nbsp;&nbsp;&nbsp;&nbsp; Munich<br>Boston&nbsp;&nbsp;&nbsp;&nbsp; New York<br>Brussels&nbsp;&nbsp;&nbsp;&nbsp; Orange County<br>Chicago&nbsp;&nbsp;&nbsp;&nbsp; Paris<br>Dubai&nbsp;&nbsp;&nbsp;&nbsp; Riyadh<br>Düsseldorf&nbsp;&nbsp;&nbsp;&nbsp; San Diego<br>Frankfurt&nbsp;&nbsp;&nbsp;&nbsp; San Francisco<br>Hamburg &nbsp;&nbsp;&nbsp;&nbsp; Seoul<br>Hong Kong Silicon Valley<br>Houston Singapore<br>London Tel Aviv<br>Los Angeles Tokyo<br>Madrid&nbsp;&nbsp;&nbsp;&nbsp; Washington, D.C. |
| April 1, 2026 | 140 Scott Drive<br>Menlo Park, California 94025<br>Tel: +1.650.328.4600 Fax: +1.650.463.2600<br>www.lw.com<br>FIRM / AFFILIATE OFFICES<br>Austin&nbsp;&nbsp;&nbsp;&nbsp; Milan<br>Beijing&nbsp;&nbsp;&nbsp;&nbsp; Munich<br>Boston&nbsp;&nbsp;&nbsp;&nbsp; New York<br>Brussels&nbsp;&nbsp;&nbsp;&nbsp; Orange County<br>Chicago&nbsp;&nbsp;&nbsp;&nbsp; Paris<br>Dubai&nbsp;&nbsp;&nbsp;&nbsp; Riyadh<br>Düsseldorf&nbsp;&nbsp;&nbsp;&nbsp; San Diego<br>Frankfurt&nbsp;&nbsp;&nbsp;&nbsp; San Francisco<br>Hamburg &nbsp;&nbsp;&nbsp;&nbsp; Seoul<br>Hong Kong Silicon Valley<br>Houston Singapore<br>London Tel Aviv<br>Los Angeles Tokyo<br>Madrid&nbsp;&nbsp;&nbsp;&nbsp; Washington, D.C. |
| <br>Penguin Solutions, Inc.<br>45800 Northport Loop West<br>Fremont, California 94538 | 140 Scott Drive<br>Menlo Park, California 94025<br>Tel: +1.650.328.4600 Fax: +1.650.463.2600<br>www.lw.com<br>FIRM / AFFILIATE OFFICES<br>Austin&nbsp;&nbsp;&nbsp;&nbsp; Milan<br>Beijing&nbsp;&nbsp;&nbsp;&nbsp; Munich<br>Boston&nbsp;&nbsp;&nbsp;&nbsp; New York<br>Brussels&nbsp;&nbsp;&nbsp;&nbsp; Orange County<br>Chicago&nbsp;&nbsp;&nbsp;&nbsp; Paris<br>Dubai&nbsp;&nbsp;&nbsp;&nbsp; Riyadh<br>Düsseldorf&nbsp;&nbsp;&nbsp;&nbsp; San Diego<br>Frankfurt&nbsp;&nbsp;&nbsp;&nbsp; San Francisco<br>Hamburg &nbsp;&nbsp;&nbsp;&nbsp; Seoul<br>Hong Kong Silicon Valley<br>Houston Singapore<br>London Tel Aviv<br>Los Angeles Tokyo<br>Madrid&nbsp;&nbsp;&nbsp;&nbsp; Washington, D.C. |

---

Re: <u>Registration Statement on Form S-8; 65,673 shares of Penguin Solutions, Inc. Common Stock, $0.03 par value per share</u>

<br>To the addressee set forth above:

We have acted as special counsel to Penguin Solutions, Inc., a Delaware corporation (the "<u>Company</u>"), in connection with the registration by the Company of an aggregate of 65,673 shares ("<u>Shares</u>") of common stock, par value $0.03 per share, of the Company issuable under the Company's Amended and Restated 2021 Inducement Plan (the "<u>Plan</u>"). The Shares are included in a registration statement on Form S-8 under the Securities Act of 1933, as amended (the "<u>Act</u>"), filed with the Securities and Exchange Commission (the "<u>Commission</u>") on April 1, 2026 (the "<u>Registration Statement</u>").

This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statements, other than as expressly stated herein with respect to the issue of the Shares.

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware, and we express no opinion with respect to any other laws.

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![image_01a.jpg](image_01a.jpg) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchasers, and have been issued by the Company against payment therefor (not less than par value) in the circumstances contemplated by the Plan, assuming in each case that the individual issuances, grants or awards under the Plan are duly authorized by all necessary corporate action and duly issued, granted or awarded and exercised in accordance with the requirements of law and the Plan (and the agreements and awards duly adopted thereunder and in accordance therewith), the issuance and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and the Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the General Corporation Law of the State of Delaware.

This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

Sincerely,

/s/ Latham & Watkins LLP

## Exhibit 23.1

**EXHIBIT 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**<br>We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated October 21, 2025 relating to the financial statements of Penguin Solutions, Inc. and the effectiveness of Penguin Solutions, Inc.'s internal control over financial reporting, appearing in the Annual Report on Form 10-K of Penguin Solutions, Inc. for the year ended August 29, 2025. <br>/s/ *DELOITTE & TOUCHE LLP*<br>San Jose, California<br>April 1, 2026

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