SGH appoints Nate Olmstead as CFO, effective June 26, replacing Ken Rizvi

Penguin Solutions, Inc.

Nate Olmstead appointed SVP and CFO, succeeding Ken Rizvi who resigned effective June 26.
Olmstead previously CFO of Logitech (2019-2023) and held finance roles at HP/HPE.
Base salary $500k; $180k sign-on bonus (clawback within 1 yr); 80% target annual bonus.
Equity grants: $1.3M RSUs vesting over 4 years; $1.3M PSUs vesting after 3 years on performance.
Severance: 12 months pay/COBRA on non-cause termination; 150% salary plus bonus on change in control.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Ken Rizvi

Chief Financial Officer

PENG · Penguin Solutions, Inc.

Effective: 2024-06-26
Successor: Nathan Olmstead
Filed: June 26, 2024, 7:59 PM ET

the Company and Ken Rizvi (who previously served as the Company’s CFO and who had resigned effective as of June 30, 2024, as reported by the Company in its Current Report on Form 8-K filed on May 14, 2024) mutually agreed that Mr. Rizvi’s resignation would instead take effect immediately prior to the effectiveness of Mr. Olmstead’s appointment.

Appointed

Nathan Olmstead

Senior Vice President and Chief Financial Officer

PENG · Penguin Solutions, Inc.

Effective: 2024-06-26
Filed: June 26, 2024, 7:59 PM ET

On June 25, 2024, the Board of Directors (the “Board”) of SMART Global Holdings, Inc. (the “Company”) appointed Nathan Olmstead as the Company’s Senior Vice President and Chief Financial Officer (“CFO”), effective as of June 26, 2024 (the “Start Date”).

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Ken Rizvi resigned as Chief Financial Officer at Penguin Solutions, Inc..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

the Company and Ken Rizvi (who previously served as the Company’s CFO and who had resigned effective as of June 30, 2024, as reported by the Company in its Current Report on Form 8-K filed on May 14, 2024) mutually agreed that Mr. Rizvi’s resignation would instead take effect immediately prior to the effectiveness of Mr. Olmstead’s appointment.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Nathan Olmstead 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 June 25, 2024, the Board of Directors (the “Board”) of SMART Global Holdings, Inc. (the “Company”) appointed Nathan Olmstead as the Company’s Senior Vice President and Chief Financial Officer (“CFO”), effective as of June 26, 2024 (the “Start Date”).

View on SEC.gov

Penguin Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-029986

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