# EDGAR Filing Document

**Accession Number:** 0001776828
**File Stem:** 0001776828-25-000003
**Filing Date:** 2025-10
**Character Count:** 9266
**Document Hash:** af5c5a5077f291ec33dc7934c1ff6401
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001776828-25-000003.hdr.sgml**: 20251001

**ACCESSION NUMBER**: 0001776828-25-000003

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250929

**FILED AS OF DATE**: 20251001

**DATE AS OF CHANGE**: 20251001

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Olmstead Nathan
- **CENTRAL INDEX KEY:** 0001776828

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38102
- **FILM NUMBER:** 251366400

**MAIL ADDRESS:**
- **STREET 1:** C/O LOGITECH INC.
- **STREET 2:** 7700 GATEWAY BOULEVARD
- **CITY:** NEWARK
- **STATE:** CA
- **ZIP:** 94560
**ISSUER**: 

**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:** 0830

**BUSINESS ADDRESS:**
- **STREET 1:** 1390 MCCARTHY BLVD
- **CITY:** MILPITAS
- **STATE:** CA
- **ZIP:** 95035
- **BUSINESS PHONE:** (510) 623-1231

**MAIL ADDRESS:**
- **STREET 1:** 1390 MCCARTHY BLVD
- **CITY:** MILPITAS
- **STATE:** CA
- **ZIP:** 95035

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

## Exhibit 24.1

```

		SECTION 16 AND FORM 144
		 POWER OF ATTORNEY

	With respect to holdings of and transactions in securities issued by
Penguin Solutions, Inc., a Delaware corporation (the "Company"), the
undersigned hereby constitutes and appoints the individuals named on Schedule
A attached hereto and as may be amended from time to time, or any of them
signing singly, with full power of substitution and resubstitution, to act as
the undersigned's true and lawful attorney-in-fact to:

	1.	execute for and on behalf of the undersigned, Schedules 13D and
13G in accordance with Section 13 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), and the rules thereunder, and Forms 3, 4, and 5
in accordance with Section 16 of the Exchange Act and the rules thereunder, and
Notices of Proposed Sale of Securities Pursuant to Rule 144 ("Form 144"), in
accordance with the requirements of Rule 144 under the Securities Act of 1933,
as amended (the "Securities Act"); and

	2.	do and perform any and all acts for and on behalf of the
undersigned which may be necessary or desirable to complete and execute any
such Schedule 13D, Schedule 13G, Form 3, Form 4, Form 5, and Form 144, complete
and execute any amendment or amendments thereto, and to timely file such
Schedule 13D, Schedule 13G, Form 3, Form 4, Form 5, and Form 144, as
applicable, and any amendment thereto, with the United States Securities and
Exchange Commission and any stock exchange or similar authority.

	The undersigned hereby grants to each such attorney-in-fact full power
and authority to do and perform any and every act and thing whatsoever
requisite, necessary, or proper to be done in the exercise of any of the rights
and powers herein granted, as fully to all intents and purposes as the
undersigned might or could do if personally present, with full power of
substitution and resubstitution or revocation, hereby ratifying and confirming
all that such attorney-in-fact, or such attorneys-in-fact substitute or
substitutes, shall lawfully do or cause to be done by virtue of this Power of
Attorney and the rights and powers herein granted.

	The undersigned acknowledges that the foregoing attorneys-in-fact, in
serving in such capacity at the request of the undersigned, are not assuming,
nor is the Company assuming, any of the undersigned's responsibilities to
comply with Section 13 and Section 16 of the Exchange Act, or Rule 144 under
the Securities Act.

	This Power of Attorney shall remain in full force and effect until the
undersigned is no longer required to file any Schedule 13D, Schedule 13G, Form
3, Form 4, Form 5, and Form 144 with respect to the undersigned's holdings of
and transactions in securities issued by the Company, unless earlier revoked by
the undersigned in a signed writing delivered to the foregoing
attorneys-in-fact.

	IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney
to be executed as of this 25th day of June, 2025.

/s/ Nate Olmstead

		  Schedule A

	INDIVIDUALS APPOINTED AS ATTORNEY-IN-FACT,
	WITH FULL POWER OF SUBSTITUTION AND RESUBSTITUTION

	1.	Mark Adams, Chief Executive Officer of the Company
	2.	Anne Kuykendall, Chief Legal Officer of the Company
	3.	Angela Chen, Head of Corporate Legal of the Company

```

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Olmstead Nathan<br><sub>(Last) (First) (Middle)</sub><br>C/O PENGUIN SOLUTIONS, INC.<br>45800 NORTHPORT LOOP WEST<br><sub>(Street)</sub><br>FREMONT, CA 94538<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-09-29 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_SVP and CFO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Penguin Solutions, Inc. [ PENG ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-09-29 |  | A |  | 19755<sup>(1)</sup> | A | $0 | 99079 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) Represents restricted stock units that will vest as to 6.25% on January 20, 2026, with the remainder vesting quarterly thereafter in 15 equal installments, subject to the recipient's continued employment through each applicable vesting date.

**Remarks:**
Exhibit 24.1 - Power of Attorney

**Signature:** /s/ Anne Kuykendall as attorney-in-fact for Nathan Olmstead  
**Date:** 2025-10-01

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**