Form 4: Penguin Solutions SVP Joseph Gates Clark Reports Share Disposal for Tax Obligations
SEC Form 4 Filing
Joseph Gates Clark, SVP and President of Optimized LED at Penguin Solutions, disposed of shares to cover tax obligations related to vesting restricted share units.
Summary
- On April 20, 2025, Joseph Gates Clark, SVP and President of Optimized LED at Penguin Solutions, disposed of 4,044 ordinary shares to satisfy tax withholding obligations related to the vesting of restricted share units.
- The shares were disposed of at a price of $15.88 per share.
- Following the transaction, Clark beneficially owns 86,637 ordinary shares, which includes 1,212 shares purchased through the Employee Share Purchase Plan on April 15, 2025.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to insider transactions, and does not contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Key Dates
| Date | Description |
|---|---|
| 04/15/2025 | Reporting person purchased 1,212 shares through the Employee Share Purchase Plan. |
| 04/20/2025 | Transaction date: Disposal of 4,044 shares to cover tax obligations. |
| 04/22/2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Penguin Solutions, Insider Trading, Share Disposal, Joseph Gates Clark, Tax Obligations, Equity Securities
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