HEARD DAVID W 4

What Happened
David W. Heard, a director of Penguin Solutions, was granted 4,485 restricted stock units (RSUs) on May 18, 2026. The Form 4 reports the acquisition at $0.00 per share (total reported value $0), reflecting an equity award rather than an open-market purchase or sale.

Key Details

• Transaction date: May 18, 2026; Form 4 filed May 20, 2026 (timely filing).
• Reported terms: 4,485 RSUs acquired at $0.00 per share (reported value $0).
• Vesting (footnote): 2,562 units vest on May 18, 2027; the remaining 1,923 units vest on January 31, 2028.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Filing accession: 0001245146-26-000006.

Context
This was a compensation award (RSUs) to a company director. Such awards are routine forms of executive/director compensation and do not represent an open-market buy or sell. The RSUs will convert to actual shares only as they vest according to the stated schedule.