Form 4: Penguin Solutions SVP Anne Kuykendall Reports Share Transactions Following PSU Vesting

Anne Kuykendall, SVP and Chief Legal Officer of Penguin Solutions, reports the acquisition and disposal of ordinary shares related to the vesting of performance-based restricted share units (PSUs) and tax withholding obligations.

Summary

• On October 19, 2024, Anne Kuykendall, SVP and Chief Legal Officer of Penguin Solutions, reported transactions involving the company's ordinary shares.
• These transactions are related to the vesting of performance-based restricted share units (PSUs) granted on October 1, 2021.
• The vesting of these PSUs was tied to the achievement of total shareholder return goals relative to the Russell 2000 Index and continued employment.
• The Compensation Committee certified the performance goal achievement, resulting in 11,639 PSUs being earned and vested on October 19, 2024.
• Kuykendall also surrendered 4,153 shares on October 19, 2024, and 2,051 shares on October 20, 2024, to satisfy tax withholding obligations related to the vesting of PSUs and restricted share units.
• Following these transactions, Kuykendall beneficially owns 108,876 ordinary shares.

Sentiment

Score: 6

Explanation: The document reflects routine transactions related to PSU vesting and tax obligations. It's a neutral event with no significant positive or negative implications.

Positives

• The vesting of PSUs indicates that performance goals related to total shareholder return relative to the Russell 2000 Index were achieved.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect the vesting of previously granted equity compensation.

Key Dates