Form 4: Penguin Solutions CEO Mark Adams Sells Shares to Cover Tax Obligations

Penguin Solutions CEO Mark Adams disposed of 11,685 ordinary shares to cover tax obligations related to vesting restricted share units.

Summary

• Mark Adams, the President and CEO of Penguin Solutions, disposed of 11,685 ordinary shares on January 20, 2025.
• The shares were disposed of at a price of $20.51 per share.
• This transaction was to satisfy tax withholding obligations related to the vesting of restricted share units.
• No shares were sold in the open market.
• Following the transaction, Mark Adams directly owns 848,159 ordinary shares and indirectly owns 29,640 shares through The Adams Family Trust.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to dispose of shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded companies, particularly when dealing with restricted stock units.
• Companies like NVIDIA, AMD, and Intel often see similar filings from their executives related to stock-based compensation and tax obligations.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax-related disposal and not a sale on the open market.

Key Dates

Keywords

Penguin Solutions, Mark Adams, share disposal, tax obligations, restricted share units, insider transaction, Form 4