Recent Updates — PENG

Penguin Solutions appointed Stephen Cumming as Senior Vice President and Chief Financial Officer, effective immediately, succeeding interim CFO Aaron Johnson who returns to his prior role. The appointment includes an annual base salary of $550,000, a target performance bonus of 90% of base, and a $700,000 retention bonus payable in two installments. Cumming receives equity awards valued at $4.3 million, comprising $1.75 million in time-based restricted stock units and $2.55 million in performance-based RSUs tied to total stockholder return relative to the Russell 2000 Index over three years. The company operates as an AI Factory Platform Company designing and managing next-generation data centers for enterprises and sovereign AI initiatives.

Penguin Solutions reported fourth-quarter fiscal 2026 net sales of $567 million, a 68% increase year over year, driven by strong demand for its AI infrastructure platform. The company posted record diluted earnings per share of $1.29 and non-GAAP diluted EPS of $1.00. Additionally, Penguin Solutions raised its full-year fiscal 2027 net sales guidance to approximately $2.43 billion at the midpoint, reflecting accelerating growth in its AI business. The firm also closed a $750 million convertible senior notes offering due 2031 with zero percent coupon terms. Penguin Solutions designs, builds, and manages next-generation data centers for enterprises and neocloud providers.

Penguin Solutions, Inc. issued $750.0 million in 0.00% convertible senior notes due 2031, including a $100.0 million option for initial purchasers. The company is using net proceeds to repurchase $135.5 million of 2029 convertible notes and $160.0 million of 2030 convertible notes through exchange transactions involving cash and common stock, repay $100.0 million under a credit agreement, and fund capped call transactions. Penguin Solutions is a provider of memory and AI infrastructure for enterprise and neocloud environments.

Penguin Solutions, Inc. issued a press release on July 7, 2026, announcing its financial results for the third quarter of fiscal 2026. The company also scheduled a conference call to discuss these results and provided non-GAAP financial reconciliations within the attached exhibit. Penguin Solutions, Inc. provides technology solutions and services.

Penguin Solutions, Inc. announced an amendment to its previous 8-K filing to supplement the disclosure of compensatory arrangements for interim CFO Aaron Johnson, effective July 9, 2026. The Compensation Committee approved a $10,000 monthly stipend and a grant of 5,153 time-based restricted stock units (RSUs) to Mr. Johnson. Penguin Solutions, Inc. provides high-performance computing solutions and enterprise infrastructure services.