Clark Joseph Gates 4
4 · Penguin Solutions, Inc. · Filed Jun 2, 2026
Research Summary
AI-generated summary of this filing
Penguin Solutions (PENG) SVP Clark J. Gates Sells 10,351 Shares
What Happened Clark Joseph Gates, Senior Vice President and President of Optimized LED at Penguin Solutions (PENG), sold a total of 10,351 shares on June 1, 2026 in a series of open‑market/private sale transactions, generating approximately $609,414 in proceeds. The individual trades reported were:
- 1,000 shares at a weighted avg $55.53 — $55,535 (trades ranged $55.01–$55.93)
- 1,100 shares at a weighted avg $56.54 — $62,189 (trades ranged $56.08–$56.78)
- 900 shares at a weighted avg $57.73 — $51,960 (trades ranged $57.24–$58.19)
- 1,439 shares at $58.50 — $84,181 (trades ranged $58.27–$58.67)
- 4,612 shares at $59.97 — $276,560 (trades ranged $59.62–$60.60)
- 1,300 shares at $60.76 — $78,989 (trades ranged $60.62–$60.95)
These were sales (code S), not purchases. The filing indicates the transactions were effected pursuant to a previously established Rule 10b5‑1 trading plan adopted by Mr. Gates on November 11, 2025.
Key Details
- Transaction date: June 1, 2026; Form 4 filed June 2, 2026 (filed timely).
- Reported total shares sold: 10,351; reported total proceeds: about $609,414.
- Prices shown are weighted averages; several entries were executed as multiple trades at the ranges noted above.
- Footnote: transactions were effected under a 10b5‑1 plan (adopted 11/11/2025). The filer offers to provide detailed per‑trade quantities/prices on request.
- Shares owned after transaction: not disclosed in the summary provided here — see the full Form 4 for post‑transaction holdings.
Context
- Sales under a 10b5‑1 plan are typically pre‑scheduled and are considered routine; they do not by themselves indicate insider sentiment about the company. This was a cash sale (disposition) rather than an exercise, grant, or gift.
- Retail investors should view this as insider liquidity rather than a direct buy/sell signal; check the full Form 4 for any additional ownership or related-party details.
Insider Transaction Report
Form 4
Clark Joseph Gates
SVP and Pres, Optimized LED
Transactions
- Sale
Common Stock
[F1][F2]2026-06-01$55.53/sh−1,000$55,535→ 75,776 total - Sale
Common Stock
[F1][F3]2026-06-01$56.54/sh−1,100$62,189→ 74,676 total - Sale
Common Stock
[F1][F4]2026-06-01$57.73/sh−900$51,960→ 73,776 total - Sale
Common Stock
[F1][F5]2026-06-01$58.50/sh−1,439$84,181→ 72,337 total - Sale
Common Stock
[F1][F6]2026-06-01$59.97/sh−4,612$276,560→ 67,725 total - Sale
Common Stock
[F1][F7]2026-06-01$60.76/sh−1,300$78,989→ 66,425 total
Footnotes (7)
- [F1]This transaction was effected pursuant to a previously established Rule 10b5-1 Plan adopted by the reporting person on November 11, 2025.
- [F2]This transaction was executed in multiple trades at prices ranging from $55.01 to $55.93. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
- [F3]This transaction was executed in multiple trades at prices ranging from $56.08 to $56.78. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
- [F4]This transaction was executed in multiple trades at prices ranging from $57.24 to $58.19. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
- [F5]This transaction was executed in multiple trades at prices ranging from $58.27 to $58.67. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
- [F6]This transaction was executed in multiple trades at prices ranging from $59.62 to $60.60. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
- [F7]This transaction was executed in multiple trades at prices ranging from $60.62 to $60.95. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
Signature
/s/ Anne Kuykendall as attorney-in-fact for Joseph Gates Clark|2026-06-02