Penguin Solutions (PENG) insider Sk Telecom sold 200,000 Convertible Preferred Stock for $377M at $1,885.81
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Former 10% owner SK Telecom sold all 200,000 convertible preferred shares to SK hynix unit for $377.2M at $1,885.81 each.
Insider transactions reported
Sk Telecom Co Ltd (Former 10% Owner at Penguin Solutions Inc., PENG) reported that they sold 200,000 Convertible Preferred Stock for $377M at $1,885.81 on Oct 29, 2026.
- Reporting person
- Sk Telecom Co Ltd
- Role
- Former 10% Owner
Options and other derivatives
| Date | Type | Security | Shares | Price | Value | Held after |
|---|---|---|---|---|---|---|
| Oct 29, 2026 | Open-market sale (S) | Convertible Preferred StockOn - Common Stock1, 2, 3, ... | -200,000 | $1,885.81 | $377M | 0 indirect |
Holdings before and after
- Convertible Preferred Stock: 200,000 to 0 indirect, See footnote
Footnotes from the filing
- 1. The Convertible Preferred Stock (the Convertible Preferred Stock ), par value $0.03 per share, of Penguin Solutions, Inc. (the Issuer ) is convertible at the holder's option into shares of the Issuer's Common Stock, par value $0.03 per share (the Common Stock ), at a conversion price determined in accordance with the Certificate of Designation of the Convertible Preferred Stock (the Certificate of Designation ). The number of shares of Common Stock issuable upon conversion may vary in accordance with the terms of the Certificate of Designation.
- 2. On October 29, 2026, Astra AI Infra LLC ( Astra ), a wholly owned subsidiary of SK Telecom Co., Ltd., sold all 200,000 shares of Convertible Preferred Stock to SHIFTIX1 LLC in a privately negotiated transaction pursuant to a Stock Transfer Agreement dated as of July 27, 2026. SHIFTIX1 is an indirectly wholly-owned subsidiary of SK hynix NAND Product Solutions Corp., and SK hynix NAND Product Solutions Corp. is a majority-owned subsidiary of SK hynix Inc. The aggregate Purchase Price was $377,162,666, or $1,885.81 per share of Convertible Preferred Stock. Following such sale, the Reporting Persons ceased to beneficially own any securities of the Issuer.
- 3. The Convertible Preferred Stock was held directly by Astra and indirectly by SK Telecom Co., Ltd., which wholly owns Astra.
- 4. The Convertible Preferred Stock is convertible into Common Stock at the holder's option at any time, subject to the terms of the Certificate of Designation.
- 5. The conversion right has no fixed expiration date. The Issuer may require conversion or redeem the Convertible Preferred Stock in the circumstances specified in the Certificate of Designation.
Transaction codes in this filing
- Open-market sale:
- Code S marks a sale in the open market or a private deal. The insider received cash for these securities.
FAQ
What did Sk Telecom report in this PENG Form 4?
Sk Telecom Co Ltd (Former 10% Owner at Penguin Solutions Inc., PENG) reported that they sold 200,000 Convertible Preferred Stock for $377M at $1,885.81 on Oct 29, 2026.
Was this PENG insider sale made under a 10b5-1 plan?
The filing's footnotes do not mention a Rule 10b5-1 trading plan.
What does transaction code S mean on an SEC Form 4?
Code S marks a sale in the open market or a private deal. The insider received cash for these securities.
Historical context for PENG
Across the 24 sessions after earlier PENG headlines, the stock closed higher 12 times and lower 11 times, with a median move of 1.5% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | PENG | SPY |
|---|---|---|---|
| Oct 13, 2026 | Penguin Solutions Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) | -1.2% | -0.0% |
| Oct 9, 2026 | BofA Securities initiated coverage on Penguin Solutions with a new price target | +6.6% | +0.6% |
| Oct 7, 2026 | Penguin Solutions Appoints Stephen Cumming as Senior Vice President and Chief Financial Officer to Support Accelerated Growthand 1 other headline that session | +13.1% | -0.2% |
| Sep 16, 2026 | Penguin Solutions Sets Conference Call for Fourth Quarter and Fiscal 2026 Results | +1.6% | -0.4% |
| Sep 9, 2026 | Penguin Solutions Full-Stack AI Factory Platform Enables Lektra's Distributed AI Data Centers | -0.5% | -0.5% |
| Sep 2, 2026 | Penguin Solutions to Showcase AI Infrastructure and Memory Solutions at AI Infra Summit 2026 | +0.0% | +0.4% |
Earlier insider filings at PENG
- Oct 30, 2026SVP and Chief Revenue Officer Frey Anthony George sold $272,812 worth of shares (4,631 units at $58.91) as part of a pre-agreed trading plan (SEC Form 4)
- Oct 26, 2026SVP and Pres, Optimized LED Clark Joseph Gates sold $44,771 worth of shares (869 units at $51.52) as part of a pre-agreed trading plan (SEC Form 4)
- Oct 23, 2026SVP and Chief Legal Officer Kuykendall Anne sold $40,649 worth of shares (738 units at $55.08) as part of a pre-agreed trading plan (SEC Form 4)
- Oct 23, 2026SEC Form 4 filed by Penguin Solutions Inc.
- Oct 22, 2026SEC Form 4 filed by Penguin Solutions Inc.
Quantisnow market dataNASDAQ
PENG
Penguin Solutions Inc.
- Market cap
- 30-day
- Sector
- Technology
- Industry
- Semiconductors
- Listed since
- 2017
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