{"id":942111,"date":"2026-03-04T20:16:11","date_gmt":"2026-03-05T01:16:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/"},"modified":"2026-03-04T20:16:11","modified_gmt":"2026-03-05T01:16:11","slug":"penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/","title":{"rendered":"Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)<\/b><\/p>\n<p>FREMONT, Calif.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.penguinsolutions.com%2Fen-us&amp;esheet=54438905&amp;newsitemid=20260304267744&amp;lan=en-US&amp;anchor=Penguin+Solutions%2C+Inc.&amp;index=1&amp;md5=5a67aa646555cd10d7fa330e9ed32dea\">Penguin Solutions, Inc.<\/a> (Nasdaq: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fir.smartm.com%2Fstock-information%2Fstock-quote-and-charts%2Fdefault.aspx&amp;esheet=54438905&amp;newsitemid=20260304267744&amp;lan=en-US&amp;anchor=PENG&amp;index=2&amp;md5=dfc1dbac6b2589c46c9859c7209dce70\">PENG<\/a>) (\u201cPenguin Solutions\u201d or the \u201cCompany\u201d) today announced the grant of inducement equity awards to its new Senior Vice President and Chief Product Officer, Ian Colle, in connection with the commencement of his employment with the Company on March 2, 2026. The independent Compensation Committee of the Board of Directors of the Company (the \u201cCommittee\u201d) approved the grants to Mr. Colle on March 2, 2026 of time-based restricted stock units with respect to 64,233 shares of Common Stock of the Company (the \u201cRSUs\u201d) and performance-based restricted stock units with respect to 64,233 shares of Common Stock of the Company at the target level of performance (the \u201cPSUs\u201d).<\/p>\n<p>\nThe awards were granted to Mr. Colle as inducements material to his entering into employment with the Company in accordance with Rule 5635(c)(4) of the Nasdaq Marketplace Rules. The awards were granted under the Penguin Solutions, Inc. Amended and Restated 2021 Inducement Plan (the \u201c2021 Inducement Plan\u201d), which was adopted by the Company\u2019s Board of Directors, effective as of June 30, 2025, and which authorizes equity awards outside of the stockholder-approved Penguin Solutions, Inc. Amended and Restated 2017 Stock Incentive Plan to provide inducements for certain individuals to enter into employment with the Company and its subsidiaries and affiliates.<\/p>\n<p>\nThe RSUs will vest over four years, with 25% vesting on April 20, 2027 and the remaining 75% vesting in equal quarterly installments thereafter, subject to Mr. Colle\u2019s continued service through each applicable vesting date.<\/p>\n<p>\nThe PSUs will vest, if at all, based on the Company\u2019s total stockholder return (\u201cTSR\u201d) relative to the performance of the median company in the Russell 2000 Index following the end of a three-year performance period, subject to Mr. Colle\u2019s continued service through the date of the Committee\u2019s certification that the Company\u2019s TSR equals or exceeds the applicable threshold level of performance. The number of shares that may be earned under the PSUs ranges from 0% of target to 200% of target.<\/p>\n<p>\nOther terms of the awards are set forth in the 2021 Inducement Plan and the applicable award agreements covering such awards.<\/p>\n<p><b>About Penguin Solutions<\/b><\/p>\n<p>\nThe most exciting technological advancements are also the most challenging for companies to adopt. At Penguin Solutions, we support our customers in achieving their ambitions across our AI infrastructure, computing, memory, and LED lines of business. With our expert skills, experience, and partnerships, we turn our customers\u2019 most complex challenges into compelling opportunities.<\/p>\n<p>\nFor more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.penguinsolutions.com%2F&amp;esheet=54438905&amp;newsitemid=20260304267744&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.penguinsolutions.com&amp;index=3&amp;md5=3ddc7152c243421e8a5d8eefdf39e393\">https:\/\/www.penguinsolutions.com<\/a>.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260304267744r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20260304267744\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260304267744\/en\/<\/a><\/span><\/p>\n<p><b>Media Contact<br \/>\n<br \/><\/b>Maureen O\u2019Leary<br \/>\n<br \/>Penguin Solutions<br \/>\n<br \/>Corporate Communications<br \/>\n<br \/>+1 602-330-6846<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:pr@penguinsolutions.com\">pr@penguinsolutions.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> California United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Technology Semiconductor Security Other Technology Software Networks Hardware Electronic Design Automation Data Management Artificial Intelligence<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20260304267744\/en\/2720686\/3\/Penguin_Solutions_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) FREMONT, Calif.&#8211;(BUSINESS WIRE)&#8211;Penguin Solutions, Inc. (Nasdaq: PENG) (\u201cPenguin Solutions\u201d or the \u201cCompany\u201d) today announced the grant of inducement equity awards to its new Senior Vice President and Chief Product Officer, Ian Colle, in connection with the commencement of his employment with the Company on March 2, 2026. The independent Compensation Committee of the Board of Directors of the Company (the \u201cCommittee\u201d) approved the grants to Mr. Colle on March 2, 2026 of time-based restricted stock units with respect to 64,233 shares of Common Stock of the Company (the \u201cRSUs\u201d) and performance-based restricted stock units with respect to 64,233 shares of Common Stock of the Company at the target level of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-942111","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) FREMONT, Calif.&#8211;(BUSINESS WIRE)&#8211;Penguin Solutions, Inc. (Nasdaq: PENG) (\u201cPenguin Solutions\u201d or the \u201cCompany\u201d) today announced the grant of inducement equity awards to its new Senior Vice President and Chief Product Officer, Ian Colle, in connection with the commencement of his employment with the Company on March 2, 2026. The independent Compensation Committee of the Board of Directors of the Company (the \u201cCommittee\u201d) approved the grants to Mr. Colle on March 2, 2026 of time-based restricted stock units with respect to 64,233 shares of Common Stock of the Company (the \u201cRSUs\u201d) and performance-based restricted stock units with respect to 64,233 shares of Common Stock of the Company at the target level of &hellip; Continue reading &quot;Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-03-05T01:16:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260304267744r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)\",\"datePublished\":\"2026-03-05T01:16:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\\\/\"},\"wordCount\":476,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20260304267744r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\\\/\",\"name\":\"Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - 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(Nasdaq: PENG) (\u201cPenguin Solutions\u201d or the \u201cCompany\u201d) today announced the grant of inducement equity awards to its new Senior Vice President and Chief Product Officer, Ian Colle, in connection with the commencement of his employment with the Company on March 2, 2026. The independent Compensation Committee of the Board of Directors of the Company (the \u201cCommittee\u201d) approved the grants to Mr. Colle on March 2, 2026 of time-based restricted stock units with respect to 64,233 shares of Common Stock of the Company (the \u201cRSUs\u201d) and performance-based restricted stock units with respect to 64,233 shares of Common Stock of the Company at the target level of &hellip; Continue reading \"Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/","og_site_name":"Market Newsdesk","article_published_time":"2026-03-05T01:16:11+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260304267744r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)","datePublished":"2026-03-05T01:16:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/"},"wordCount":476,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260304267744r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/penguin-solutions-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-3\/","name":"Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) - 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