Shaikh Kashif 4

What Happened

• Shaikh Kashif, President & CEO and a director of Penguin Solutions (PENG), was granted a total of 614,274 equity awards on Feb 2, 2026. The filing shows three awards: two grants of 238,188 shares each (one reported as a derivative award) and one grant of 137,898 shares. All were granted at $0.00 per share (no cash paid).

Key Details

• Transaction date: February 2, 2026. Grant price: $0.00 per share.
• Award breakdown: 238,188; 137,898; 238,188 = 614,274 shares total.
• Shares owned after the transaction: Not disclosed in the Form 4 provided.
• Filing date: February 4, 2026 — appears to be filed within the typical two-business-day window (timely).
• Footnote F1 (time-based RSUs): Vesting = 25% on April 20, 2027, with the remainder vesting quarterly thereafter in 12 equal installments; subject to continued service.
• Footnote F2 (performance-based PSUs): PSUs vest 0%–200% of target based on four-year performance measuring 30-trading-day average stock-price appreciation hurdles (25%, 50%, 75%, 100% above the pre-grant trailing average). No PSUs vest before the first Compensation Committee meeting on/after the second anniversary; vesting requires continued service and committee certification.
• One award is reported as a "derivative" on the Form 4, indicating a contingent right to receive shares subject to vesting/performance conditions.

Context

• These are grants (awards), not open-market purchases or sales, so no immediate cash flowed between the insider and the company. Time-based RSUs convey a straightforward right to shares over time; PSUs are performance-contingent and may result in 0%–200% of the target shares depending on stock-price performance and committee certification.
• Awards like these are common for executive compensation and are intended to align management with long-term shareholder value; they do not necessarily indicate an immediate bullish or bearish signal by the insider.