A Form 4 filed with the SEC on October 26, 2026 discloses that Clark Joseph Gates, SVP and President, Optimized LED at Penguin Solutions, Inc., sold 869 shares of common stock on October 23, 2026 under a pre-established Rule 10b5-1 trading plan.

Key Highlights

  • Reporting person: Clark Joseph Gates, SVP and President, Optimized LED at Penguin Solutions, Inc. (NASDAQ:PENG)
  • Transaction: Disposition (code S) of 869 shares of common stock on October 23, 2026
  • Sale price: $51.52 per share
  • Remaining ownership: 85,853 shares of common stock beneficially owned directly following the transaction
  • 10b5-1 plan: The sale was effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on November 11, 2025

Gates Executes Planned Sale Under November 2025 Rule 10b5-1 Agreement

According to the filing, Clark Joseph Gates disposed of 869 shares of Penguin Solutions common stock at a price of $51.52 per share on October 23, 2026. The transaction is coded "S," indicating a sale in the open market. Gates is identified in the filing as SVP and President, Optimized LED, and the filing was signed on October 26, 2026 by Anne Kuykendall as attorney-in-fact for Joseph Gates Clark.

The filing notes that the transaction "was effected pursuant to a previously established Rule 10b5-1 Plan adopted by the reporting person on November 11, 2025." A Rule 10b5-1 plan allows corporate insiders to establish pre-scheduled trading arrangements at a time when they are not in possession of material non-public information. The Form 4 indicates that the box confirming a transaction made pursuant to such a plan has been checked.

Following the reported sale, Gates is disclosed as directly and beneficially owning 85,853 shares of Penguin Solutions common stock. No derivative securities transactions were reported in Table II of the filing. The filing was submitted by a single reporting person, with no indication of joint or group filing.

What Was Disclosed

Penguin Solutions, Inc. (NASDAQ:PENG) officer Clark Joseph Gates filed a Form 4 reporting the sale of 869 common shares at $51.52 on October 23, 2026, under a 10b5-1 plan established November 11, 2025, leaving him with 85,853 shares directly owned.