---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-033616"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2026-02-02T23:59:59+00:00"
generated_at: "2026-05-16T05:36:47.655375+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Penguin Solutions CEO Mark Adams retires; Kash Shaikh appointed as new CEO effective Feb 2, 2026

## Summary
- Mark Adams resigned as President & CEO and Board member effective Feb 1, 2026; will serve as advisor for 9 months at $24,722/month.
- Kash Shaikh appointed President & CEO and Class III director effective Feb 2, 2026; previously CEO of Securonix.
- Shaikh's compensation: $890k base salary, 125% target bonus, $2M sign-on bonus, and RSU/PSU equity grants.
- Equity awards include 238,188 time-based RSUs, 137,898 supplemental RSUs, 137,898 TSR PSUs, and 238,188 stock price PSUs.
- Transition agreement includes continued vesting of Adams' time-based equity awards during consulting period.

## SEC filing metadata
- accession: 0001193125-26-033616
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2026-02-02T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000119312526033616/0001193125-26-033616-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000119312526033616/d93293d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-033616
- JSON: https://secwatch.observer/filing/0001193125-26-033616.json
- Plain text: https://secwatch.observer/filing/0001193125-26-033616.txt

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