secwatch.observer — SEC 8-K summary
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Issuer:     Penguin Solutions, Inc. (PENG)
CIK:        0001616533
Form:       8-K
Filed at:   2021-12-14T23:59:59+00:00
Accession:  0001193125-21-356865
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1616533/000119312521356865/0001193125-21-356865-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1616533/000119312521356865/d270664d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-356865

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