---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-21-356865"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2021-12-14T23:59:59+00:00"
generated_at: "2026-06-28T01:18:33.426509+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# SGH board: co-founders Shah, Patel and Silver Lake director White to step down; Q2 guidance reaffirmed

## Summary
- Co-founders Ajay Shah and Mukesh Patel will not stand for re-election at Feb 2022 annual meeting.
- Jason White, Silver Lake-nominated director, also steps down after Silver Lake sold its stake.
- Shah will serve as consultant until 2023 annual meeting; unvested equity continues to vest.
- Remaining board fully independent except CEO Mark Adams; one-third women.
- Company reaffirms Q2 fiscal 2022 financial outlook; no changes to prior guidance.

## SEC filing metadata
- accession: 0001193125-21-356865
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2021-12-14T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000119312521356865/0001193125-21-356865-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000119312521356865/d270664d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-356865
- JSON: https://secwatch.observer/filing/0001193125-21-356865.json
- Plain text: https://secwatch.observer/filing/0001193125-21-356865.txt

## Key facts
- Executive change
  Ajay Shah departed as Chair of the Board at Penguin Solutions, Inc..
  - Action: will not stand for re-election
  - Role: Chair of the Board
  source text: Ajay Shah, the Company’s co-founder and chair of the board of directors of the Company (the “Board”), will not stand for re-election to the Board at the Company’s annual general meeting of shareholders to be held on February 11, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616533/000119312521356865/0001193125-21-356865-index.htm
- Executive change
  Mukesh Patel resigned as Director at Penguin Solutions, Inc..
  - Action: resigned
  - Role: Director
  source text: Mukesh Patel notified the Company of his intention to resign from the Board, effective as of the 2022 Annual Meeting.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616533/000119312521356865/0001193125-21-356865-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.