{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-415645","form_type":"8-K","ticker":"PENG","cik":"0001616533","company_name":"Penguin Solutions, Inc.","filed_at":"2026-10-06T20:34:08+00:00","discovered_at":"2026-10-06T20:35:00.427130+00:00","generated_at":"2026-10-12T16:13:15.103125+00:00","sec_items":["2.02","5.02","7.01","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.45,"calibrated_materiality_score":0.45,"confidence":"high","headline":"Penguin Solutions appoints Stephen Cumming CFO effective Oct 6; interim CFO Aaron Johnson returns to VP Finance","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-415645","json":"https://secwatch.observer/filing/0001193125-26-415645.json","markdown":"https://secwatch.observer/filing/0001193125-26-415645.md","text":"https://secwatch.observer/filing/0001193125-26-415645.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1616533/000119312526415645/0001193125-26-415645-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1616533/000119312526415645/d162527d8k.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T16:13:15.103125+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0cb4954ae3","claim":"Stephen Cumming was appointed as Senior Vice President and Chief Financial Officer at Penguin Solutions, Inc..","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1616533/000119312526415645/0001193125-26-415645-index.htm","confidence":0.98,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Senior Vice President and Chief Financial Officer"}],"fact_type":"executive_change"},{"claim_id":"4847794ba2","claim":"Aaron Johnson changed role as Vice President, Finance and Accounting at Penguin Solutions, Inc..","evidence_excerpt":"Effective October 6, 2026, Mr. Johnson returned to his role as the Company’s Vice President, Finance and Accounting.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1616533/000119312526415645/0001193125-26-415645-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"returned"},{"label":"Role","value":"Vice President, Finance and Accounting"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}