Clark Joseph Gates 4

What Happened

• Clark Joseph Gates, Senior Vice President and President, Optimized LED at Penguin Solutions (PENG), sold 5,000 shares on May 5, 2026.
• The shares were disposed at $34.75 each for a total proceeds of $173,750. This was a sale (routine disposition) rather than a purchase.

Key Details

• Transaction date and price: 2026-05-05, 5,000 shares at $34.75 per share.
• Total value: $173,750.
• Shares owned after transaction: Not disclosed in this Form 4 filing.
• Footnote: Transaction was executed pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 11, 2025 (Footnote F1).
• Filing: Form 4 filed 2026-05-07 for a reportable transaction on 2026-05-05 — appears to be timely (not marked late).

Context

• Sales under a pre-established 10b5-1 plan are scheduled trades set up in advance and are commonly used by insiders to sell shares without active timing decisions; they are routine and do not necessarily indicate a change in the insider’s view of the company.
• For retail investors, purchases can be more informative than routine sales; this report documents a planned sale rather than an opportunistic insider buy.