Clark Joseph Gates 4

What Happened

Clark Joseph Gates, SVP and President, Optimized LED at Penguin Solutions (PENG), sold a total of 6,485 shares in two transactions. On 2026-04-23 he sold 1,485 shares at $27.62 each for $41,016, and on 2026-04-24 he sold 5,000 shares at $29.75 each for $148,750 — total proceeds ≈ $189,766. These were dispositions (sales), which are often routine cashing‑out events rather than new bullish purchases.

Key Details

• Transaction dates and prices:
  • 2026-04-23: 1,485 shares @ $27.62 = $41,016
  • 2026-04-24: 5,000 shares @ $29.75 = $148,750
• Total shares sold: 6,485; total proceeds ≈ $189,766.
• Shares owned after the transactions: not specified in the provided summary — see the full Form 4 for post‑transaction holdings.
• Footnote: The April 23 sale was effected pursuant to a previously established Rule 10b5‑1 plan adopted by the reporting person on November 11, 2025.
• Filing timeliness: Form filed 2026-04-27; this covers the 2026-04-23 and 2026-04-24 trades and was filed within required Form 4 timing (two business days).

Context

• The filings report sales (code "S"), not purchases. Sales under pre‑existing 10b5‑1 plans are typically scheduled in advance and are not necessarily an immediate signal about the insider’s view of the company.
• For investors, purchases generally carry more directional weight than routine sales; treat this as a liquidity/plan‑driven disposition unless other information indicates otherwise.