Form 4: Penguin Solutions SVP Anne Kuykendall Reports Share Transaction for Tax Obligations
SEC Form 4 Filing
Penguin Solutions' SVP and Chief Legal Officer, Anne Kuykendall, surrendered 3,092 shares to cover tax obligations related to vesting restricted share units.
Summary
- Anne Kuykendall, SVP and Chief Legal Officer at Penguin Solutions, Inc., reported a transaction involving the company's ordinary shares.
- On January 20, 2025, Ms. Kuykendall surrendered 3,092 shares to the company.
- This transaction was to satisfy tax withholding obligations related to the vesting of restricted share units.
- The price per share was $20.51.
- Following the transaction, Ms. Kuykendall beneficially owns 105,784 ordinary shares.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations. It is a neutral event with no significant positive or negative implications for the company's performance or outlook.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for companies to withhold shares to cover taxes when restricted stock units vest.
Comparison to Industry Standards
- Similar transactions are common across publicly traded companies, particularly in the technology sector where stock-based compensation is a significant part of executive pay.
- Companies like Microsoft, Apple, and Google also have executives who regularly file Form 4s for similar transactions related to stock vesting and tax obligations.
- The number of shares and the price are specific to Penguin Solutions and the executive's compensation package, making direct comparisons difficult without more context.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for executive compensation.
- The transaction does not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 01/20/2025 | Date of the share transaction where 3,092 shares were surrendered. |
| 01/22/2025 | Date the Form 4 was signed by Anne Kuykendall. |
Keywords
Penguin Solutions, Anne Kuykendall, share transaction, tax obligations, restricted share units, insider trading, Form 4
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