Penguin Solutions appoints Stephen Cumming CFO effective Oct 6; interim CFO Aaron Johnson returns to VP Finance

Penguin Solutions, Inc.

Cumming, 56, was CFO of Edgio (2022-2025) and Cambium Networks (2018-2022), where he led its 2019 IPO; previously CFO at Atmel; succeeds interim CFO Aaron Johnson.
Base salary $550,000; annual bonus target 90% of salary; $700,000 retention bonus paid in two equal installments within 45 and 85 days of his start date.
Equity grants: $1,750,000 in time-based RSUs vesting 25% on Oct 20, 2027 then quarterly, plus $2,550,000 in TSR-based PSUs paying 0-200% of target over three years.
Severance of 100% of base salary over 12 months; rises to 150% of salary plus 150% of prior bonus if termination occurs within 2 months before or 12 months after a change in control.
Same-day press release says Penguin separately reported fiscal 2026 results with 'multiple company records' and raised its fiscal 2027 outlook; those numbers are in a separate release.

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Executive movements

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Appointed

Stephen Cumming

Senior Vice President and Chief Financial Officer

PENG · Penguin Solutions, Inc.

Effective: 2026-10-06
Filed: October 6, 2026, 4:34 PM ET

On October 6, 2026, the Company announced that its board of directors (the “Board”) had appointed Stephen Cumming to serve as the Company’s Senior Vice President and Chief Financial Officer (“CFO”), effective immediately.

Role change

Aaron Johnson

Vice President, Finance and Accounting

PENG · Penguin Solutions, Inc.

Effective: 2026-10-06
Filed: October 6, 2026, 4:34 PM ET

Effective October 6, 2026, Mr. Johnson returned to his role as the Company’s Vice President, Finance and Accounting.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.98

Stephen Cumming was appointed as Senior Vice President and Chief Financial Officer at Penguin Solutions, Inc..

Action: appointed
Role: Senior Vice President and Chief Financial Officer

Exact text from the filing

On October 6, 2026, the Company announced that its board of directors (the “Board”) had appointed Stephen Cumming to serve as the Company’s Senior Vice President and Chief Financial Officer (“CFO”), effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Aaron Johnson changed role as Vice President, Finance and Accounting at Penguin Solutions, Inc..

Action: returned
Role: Vice President, Finance and Accounting

Exact text from the filing

Effective October 6, 2026, Mr. Johnson returned to his role as the Company’s Vice President, Finance and Accounting.

View on SEC.gov

Penguin Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-415645

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