Clark Joseph Gates 4

What Happened
Clark Joseph Gates, Senior Vice President and President of Optimized LED at Penguin Solutions (PENG), sold 1,346 shares of company stock on February 10, 2026. The shares were disposed at $19.03 per share for total proceeds of $25,614. This was a sale (not a purchase), which is commonly routine insider liquidity rather than a direct signal of company performance.

Key Details

• Transaction date: 2026-02-10
• Transaction type: Sale (open market/private sale) — 1,346 shares @ $19.03 = $25,614
• Footnote: Transaction was effected pursuant to a previously established Rule 10b5-1 trading plan adopted by the reporting person on November 11, 2025.
• Filing date: Form 4 filed 2026-02-12 (two days after the trade; appears timely under the standard 2-business-day rule).
• Shares owned after transaction: Not disclosed in the provided filing excerpt.

Context
Sales executed under Rule 10b5-1 plans are pre-scheduled and typically represent planned liquidity rather than an ad hoc judgment about the company. For retail investors, purchases often carry more informational weight than routine sales; this single planned sale should be viewed as insider liquidity unless additional activity or disclosure suggests otherwise.