Penguin Solutions (PENG) SVP Clark Joseph Gates Receives Award

What Happened

Clark Joseph Gates, Senior Vice President and President of Optimized LED at Penguin Solutions (PENG), was granted 7,222 restricted stock units (RSUs) on September 29, 2026. The grant was recorded at $0.00 per share (total $0) — an award of equity rather than a purchase or sale.

Key Details

• Transaction date: 2026-09-29; filing date: 2026-10-01 (filing shows the report was submitted on 10/01/2026).
• Amount: 7,222 RSUs granted; grant price reported as $0.00 (award).
• Shares owned after transaction: Not stated in the filing.
• Footnote: F1 — RSUs vest 25% on October 20, 2027, with the remaining 75% vesting quarterly thereafter in 12 equal installments; vesting is subject to continued service.
• No indication in the filing that this was a sale, exercise, or tax-withholding event.

Context

RSUs are equity awards that convert to common shares when they vest; they require no cash outlay at grant and do not by themselves indicate buying or selling activity in the market. The reported award vests over multiple years and is contingent on Gates' continued service, so the economic benefit will accrue over time as vesting occurs.