Highest-materiality recent filing
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.
Penguin Solutions Q4 net sales $567M, up 68% YoY; EPS $1.29; FY27 outlook raised on AI demand
Q4 net sales $566.7M, up 68% YoY; diluted EPS $1.29 vs $0.11; non-GAAP diluted EPS $1.00 vs $0.43; operating income $69.5M, up 458%.
Issued $750M aggregate principal of 0.00% Convertible Senior Notes due 2031, with initial conversion price of ~$116.70 per share.
Penguin Solutions Q3 net sales $479M (+48% YoY); raises FY2026 outlook above prior ranges
Record Q3 net sales of $479M, up 48% YoY; GAAP diluted EPS $0.68 vs $(0.01) YoY.
Aaron Johnson appointed interim CFO effective July 9, 2026; Compensation Committee approved arrangements on June 25, 2026.
Nate Olmstead resigns as CFO effective July 8, 2026; will not receive severance as departure is voluntary and not due to disagreements.
Penguin Solutions appoints David Heard (Nokia exec) to board of directors
David Heard, President of Network Infrastructure at Nokia, appointed to board, effective May 18, 2026.
Penguin Solutions completes sale of remaining 19% stake in Zilia Technologies for $46.08M
Sold remaining 19% interest in Zilia Technologies to Lexar Europe B.V. for $46.08 million.
Penguin Solutions Q2 FY2026: net sales $343M, GAAP EPS $0.58; raises FY outlook
Net sales $343M (-6% YoY); GAAP diluted EPS $0.58 vs $0.09; non-GAAP EPS $0.52 (unchanged).
Penguin Solutions annual meeting: Papermaster elected, auditor ratified, say-on-pay approved
At Feb 6, 2026 annual meeting, 86.30% of voting power represented; Mark Papermaster elected as Class I director with 42.97M votes for.
Penguin Solutions CEO Mark Adams retires; Kash Shaikh appointed as new CEO effective Feb 2, 2026
Mark Adams resigned as President & CEO and Board member effective Feb 1, 2026; will serve as advisor for 9 months at $24,722/month.
Net sales $343M (+1% YoY); GAAP diluted EPS $0.04 (vs $0.10 prior); Non-GAAP diluted EPS $0.49 (flat).
Penguin Solutions agrees to sell remaining 19% stake in Zilia for $46.08M
Seller (SMART Modular Technologies) will sell 19% interest in Zilia Technologies to Lexar Europe B.V. for $46.08 million.
Penguin Solutions FY25 net sales +17% to $1.37B; GAAP EPS $0.28 vs ($0.85); $75M buyback authorized.
FY25 net sales $1.37B (+17% YoY); GAAP diluted EPS $0.28 vs $(0.85) loss in FY24.
Penguin Solutions appoints new CRO and SVP of Strategy; Advanced Computing president departs
Tony Frey appointed SVP and Chief Revenue Officer, effective Aug 25, 2025, overseeing global sales for Advanced Computing and Integrated Memory.
Penguin Solutions Q3 net sales $324M (+7.9% YoY), Non-GAAP EPS $0.47 vs $0.37; raises FY EPS outlook
Net sales $324M, up 7.9% YoY; GAAP diluted EPS $(0.01) vs $0.10; Non-GAAP diluted EPS $0.47 vs $0.37.
Each Cayman ordinary and preferred share exchanged 1:1 for Delaware common and convertible preferred stock.
Closed $400M revolving credit facility to replace $300M Term Loan A and $250M Revolver due 2027.
Penguin Solutions shareholders approve Cayman-to-US redomiciliation scheme
Scheme of Arrangement approved by 92.25% of nominal value of shares voted at June 16, 2025 meeting.
Penguin Solutions Q2 revenue up 28% to $366M; raises full-year outlook; COO Pacheco to retire
Revenue $365.5M, +28.3% YoY; GAAP EPS $0.09, Non-GAAP EPS $0.52 vs $0.27 YoY.
Penguin Solutions plans redomicile from Cayman Islands to Delaware, shares to trade as PENG
Board approved redomiciliation of parent to newly-formed Delaware corporation; shares exchanged 1-for-1.
Penguin Solutions shareholders elect directors, approve auditor and say-on-pay at 2025 AGM
Class II directors Min Yong Ha (38.2M for, 1.95M against) and Penelope Herscher (37.5M for, 2.69M against) elected.
Penguin Solutions Q1 FY2025 revenue up 24% to $341M; Non-GAAP EPS $0.49
GAAP diluted EPS $0.10 vs ($0.23) YoY; Non-GAAP diluted EPS $0.49 vs $0.24 YoY.
Closed $200M investment from SKT via 200,000 convertible preferred shares at $1,000 each, convertible at $32.80784 per share.
Penguin Solutions files 8-K/A to correct non-GAAP reconciliation omission of $300k
Amendment corrects omitted 'Other' line item of $300k in non-GAAP gross profit reconciliation.
Penguin Solutions (ex-SGH) reports Q4 rev $311M, GAAP EPS -$0.46; FY24 rev $1.17B, GAAP EPS -$0.85
Full-year FY24 net sales $1.17B vs $1.44B in FY23; GAAP EPS $(0.85) vs $0.15; non-GAAP EPS $1.25 vs $2.52.
SMART Global sets 2025 AGM for Feb 7; director nomination deadline Oct 13
Annual general meeting scheduled for February 7, 2025 at 10:00 a.m. PT.
SMART Global Holdings shareholders approve name change to Penguin Solutions, effective Oct 15, 2024
Name Change Proposal approved: 44,979,810 For, 429,960 Against, 63,237 Abstain.
Entered Third Amendment to Credit Agreement on Aug 21, 2024.
SGH upsizes convertible note offering by $25M to $200M; enters capped call to limit dilution
Initial purchasers exercised option to buy additional $25M of 2.00% Convertible Senior Notes due 2030, closing Aug 14, 2024.
SGH issues $175M 2.00% convertible notes due 2030; repurchases $80M of 2026 notes
Issued $175M aggregate principal (upsized from $150M) of 2.00% convertible senior notes due 2030.
SGH receives $200M strategic investment from SK Telecom for AI infrastructure expansion
SK Telecom invests $200M in SGH via 200,000 convertible preferred shares at $1,000 per share.
SGH reports sequential revenue growth; GAAP EPS $0.10, Non-GAAP EPS $0.37 in Q3 FY24
Net sales $300.6M, up 5.5% QoQ; GAAP gross margin 29.6% vs 28.8% prior quarter.
SGH appoints Nate Olmstead as CFO, effective June 26, replacing Ken Rizvi
Nate Olmstead appointed SVP and CFO, succeeding Ken Rizvi who resigned effective June 26.
SGH CFO Ken Rizvi to resign June 30; COO Jack Pacheco named interim CFO
Ken Rizvi resigns as CFO effective June 30, 2024 to pursue another opportunity; no dispute with company.
SGH Q2 FY2024 revenue $284.8M, non-GAAP EPS $0.27; appoints Pete Manca as IPS President
Net sales $284.8M, up 3.9% sequential but down 26.7% YoY from $388.4M.
SGH shareholders elect three Class I directors, ratify auditor, approve say-on-pay at 2024 AGM
Sandeep Nayyar elected with 39,266,372 votes for; Mary Puma with 37,183,067; Maximiliane Straub with 38,991,484.
SGH Q1 rev $274.2M (-30% YoY); GAAP EPS ($0.23); record gross margins; $75M buyback
Net sales $274.2M, down 30% YoY; Memory Solutions $85.7M, Intelligent Platform $118.8M, LED $69.8M.
SGH completes sale of 81% of SMART Brazil to Lexar Europe for $205M EV; receives $140M upfront
Completed sale of 81% of SMART Brazil to Lexar Europe (affiliate of Longsys) for $205M enterprise value; received ~$140M upfront cash net of adjustments and withholding tax.
SGH Q4 revenue down 12.6% YoY; FY2023 record gross margins; SMART Brazil sale pending
Q4 continuing ops revenue $316.7M, down 12.6% YoY; Non-GAAP EPS $0.35 vs $0.63.
SMART Global sets 2024 annual meeting for Feb 9; director nomination deadline Oct 12
Annual general meeting scheduled for February 9, 2024 at 10 a.m. Pacific Time.
Thierry Pellegrino ceased as SVP and President, Intelligent Platform Solutions, effective June 27, 2023.
SGH appoints Mary G. Puma, former Axcelis CEO, to board of directors
Mary G. Puma appointed to SGH board as Class I director, effective July 15, 2023.
David Laurello, formerly Stratus Technologies CEO, named President of IPS business effective June 27, 2023.
Net sales of $383 million, down 17.1% year-over-year; GAAP gross margin improved 100 bps to 25.7%.
SGH to sell 81% of SMART Brazil to Lexar Europe for ~$166M cash
Upfront cash of $137.7M (81% of $170M) plus deferred cash of $28.35M (81% of $35M) at closing.
SGH Q2 FY23: Non-GAAP EPS $0.76 beats guidance; revenue $429M down 4.5%
GAAP net loss $27.2M ($0.55 loss per share) vs. profit $2.5M a year ago; Non-GAAP net income $37.6M ($0.76 EPS) above high end of guidance.
SGH shareholders elect three Class III directors, ratify Deloitte, approve say-on-pay
Directors Mark Adams (39.8M for), Bryan Ingram (37.7M), Mark Papermaster (39.9M) elected for 3-year term.
SMART Global exchanges $150M of 2.25% 2026 notes for 2.00% 2029 notes plus $15.6M cash
Exchanged $150M principal of 2.25% Convertible Senior Notes due 2026 for $150M of new 2.000% Convertible Senior Notes due 2029 and ~$15.6M cash premium.
SGH exchanges $150M of 2.25% notes for 2.000% notes due 2029; repurchases 325K shares
Exchanged $150M aggregate principal of existing 2.25% convert notes due 2026 for $150M of new 2.000% notes due 2029 plus ~$15.6M cash premium.
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.
Effective October 6, 2026, Mr. Johnson returned to his role as the Company’s Vice President, Finance and Accounting.
On May 31, 2026, the board of directors of the Company appointed Aaron Johnson, the Company’s Vice President, Finance and Accounting, as interim CFO and as the Company’s principal financial and accounting officer, succeeding Mr. Olmstead in these positions effective as of July 9, 2026, on an interim basis until the Company appoints a successor.
On May 26, 2026, Nate Olmstead notified Penguin Solutions, Inc. (the “Company”) of his decision to resign as the Company’s Senior Vice President and Chief Financial Officer (“CFO”), effective as of July 8, 2026, to pursue another opportunity in a different industry.
On May 18, 2026, the board of directors (the “Board”) of Penguin Solutions, Inc. (the “Company”) increased the authorized size of the Board to eight members, and upon the recommendation of the Nominating and Corporate Governance Committee of the Board, appointed David Heard to the Board and as a member of the Compensation Committee of the Board, effective immediately.
On April 1, 2025, Jack Pacheco, the Company’s Executive Vice President, Chief Operating Officer (“COO”) and President of Integrated Memory, informed the Company of his decision to retire on December 31, 2025
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.
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”).
Effective upon Mr. Rizvi’s departure, Jack Pacheco, the Company’s former CFO and current chief operating officer and president of Memory Solutions, will assume the role of interim CFO and serve as the Company’s principal financial and accounting officer on an interim basis until the Company appoints a permanent successor.
On May 8, 2024, Ken Rizvi notified SMART Global Holdings, Inc. (the “Company”) that after over three years as the Company’s senior vice president and chief financial officer (“CFO”), he intends to resign to pursue another opportunity.
On April 9, 2024, the Company announced the appointment of Pete Manca as the Company’s President, Intelligent Platform Solutions (“IPS”).
Mr. Manca succeeds David Laurello, who ceased serving as the Company’s Senior Vice President and President, IPS, effective as of April 8, 2024.
Max materiality 0.90 · Median 0.60 · Most common event earnings