Clark Joseph Gates, SVP and President of Optimized LED at Penguin Solutions, Inc., filed a Form 4 on November 4, 2026, reporting the sale of 5,773 shares of common stock on November 2, 2026, under a previously established Rule 10b5-1 plan.

Key Highlights

  • Five separate sale tranches: The reporting person disposed of 1,573, 1,000, 1,400, 900, and 900 shares in five transactions, all on November 2, 2026.
  • Weighted average prices: The five tranches carried weighted average sale prices of $47.7951, $48.8838, $49.9667, $51.029, and $51.9325 per share, respectively.
  • Price ranges: Individual trades within the tranches ranged from $47.35 to $52.09 across all five groups.
  • Post-transaction ownership: Following all reported sales, the reporting person directly held 80,080 shares of common stock.
  • Rule 10b5-1 plan: All transactions were effected pursuant to a plan adopted by the reporting person on November 11, 2025, according to the filing.
  • Issuer: Penguin Solutions, Inc., listed on NASDAQ:PENG.

Gates Clark's November 2 Sales Under 10b5-1 Plan at Penguin Solutions

According to the Form 4 filed with the SEC on November 4, 2026, Clark Joseph Gates, identified as SVP and President of Optimized LED at Penguin Solutions, Inc. (NASDAQ:PENG), sold a combined 5,773 shares of Penguin Solutions common stock on November 2, 2026. The filing indicates that all five sale transactions were executed pursuant to a Rule 10b5-1 trading plan that the reporting person had adopted on November 11, 2025.

The five tranches were executed in multiple trades each. The first tranche of 1,573 shares was sold at a weighted average price of $47.7951, with individual trades ranging from $47.35 to $48.32. The second tranche of 1,000 shares carried a weighted average of $48.8838, with trades ranging from $48.41 to $49.40. The third tranche of 1,400 shares had a weighted average of $49.9667, with trades between $49.46 and $50.41. The fourth tranche of 900 shares was sold at a weighted average of $51.029, in trades ranging from $50.69 to $51.32. The fifth tranche of 900 shares carried a weighted average of $51.9325, with trades between $51.74 and $52.09.

The filing states that the reporting person undertakes to provide, upon request, full information regarding the number of shares and prices at which each transaction was effected. All disposals are listed as direct ownership (transaction code "S"). Following the five reported transactions, the filing shows the reporting person directly holding 80,080 shares of Penguin Solutions common stock. The Form 4 was signed by Anne Kuykendall as attorney-in-fact for Joseph Gates Clark.

What Was Disclosed

The filing disclosed five open-market sales of Penguin Solutions common stock by SVP Clark Joseph Gates on November 2, 2026, totaling 5,773 shares at weighted average prices ranging from $47.7951 to $51.9325, executed under a pre-established Rule 10b5-1 plan.