Clark Joseph Gates 4

What Happened Clark Joseph Gates, Senior Vice President and President, Optimized LED at Penguin Solutions (PENG), sold 12,546 shares on April 9, 2026. The reported weighted-average sale price was $22.55 per share, producing total proceeds of approximately $282,882. This was a sale (not a purchase) executed under a pre-established plan and is generally considered a routine disposition rather than a direct bullish signal.

Key Details

• Transaction date: April 9, 2026; Form 4 filed April 10, 2026 (filed promptly the next day).
• Shares sold: 12,546; weighted-average price reported $22.55; price range across trades $22.50–$22.68.
• Total proceeds: about $282,882.
• Shares owned after transaction: Not disclosed in this Form 4.
• Footnotes: F1 — Sale effected pursuant to a Rule 10b5-1 trading plan adopted by Gates on November 11, 2025. F2 — Transaction executed in multiple trades; detailed trade-level prices/quantities available on request to the SEC staff, issuer, or a security holder.
• Filing timeliness: No late filing indicated (transaction reported on next-day Form 4).

Context The sale was executed under a Rule 10b5-1 plan, meaning it was part of a prearranged trading program established in November 2025. Such plan-based sales are typically scheduled in advance and should be interpreted cautiously; they do not necessarily reflect the insider’s current view of the company. Purchases generally carry more informational weight for investors than routine, pre-planned sales.