Tech — Hardware
Penguin Solutions Executive Compensation (FY25)
PENG · Fremont, CA · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025 ◇ Mark Adams | Median of the other named officers $2,418,149 5 officers, excluding the chief executive | Latest say-on-pay support = February 6, 2026 | Chief executive pay ratio ◇ To the median employee |
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Data as of October 22, 2026Latest filing (8-K): February 11, 2026
8 filings cited on this page
Method: intel.velarion.ai/methodology
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Velarion Member, one year
301 figures on this page: 296 cited to the filing that reported them, 5 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Mark Adams: $5,998,416 → $11,711,497 (95.2% higher)
CEO pay ratio: 163:1 → 262:1 (60.7% higher)
Frequently asked questions
Answers drawn from the data on this page.
Who is Penguin Solutions' chief executive and what were they paid?
Total compensation for Mark Adams, President and Chief Executive Officer, came to $11,711,497 in fiscal 2025. Compared with the $5,998,416 reported for fiscal 2024, Adams' total was 95.2% higher.
What was Penguin Solutions' say-on-pay result?
Shareholders supported the say-on-pay proposal with 97.1% of votes cast for or against in favor at the meeting held February 6, 2026 for fiscal 2025.
Which companies are in Penguin Solutions' peer group?
The disclosed peer group includes Advanced Energy Industries, Inc., Alpha and Omega Semiconductor Limited, BlackBerry Limited, Cohu, Inc. and Corsair Gaming, Inc., among others.
What is Penguin Solutions' chief executive pay ratio?
The company reported a chief executive pay ratio of 262:1 for fiscal 2025, against median employee compensation of $44,715.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Mark Adams President and Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Ken Rizvi Senior Vice President and Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Jack Pacheco Executive Vice President and Chief Operating Officer, SGH and President, Memory Solutions | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Claude Demby Former Senior Vice President, SGH and President, LED Solutions Departed during or after this year | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Thierry Pellegrino Senior Vice President, SGH and President, Intelligent Platform Solutions | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
David Laurello Senior Vice President and President, Intelligent Platform Solutions | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Mark Adams President and Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Thierry Pellegrino Former Senior Vice President and President, Intelligent Platform Solutions Departed during or after this year | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Ken Rizvi Senior Vice President and Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Jack Pacheco Executive Vice President, Chief Operating Officer and President, Memory Solutions | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Joseph Clark Senior Vice President and President, LED Solutions | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Mark Adams President and Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Pete Manca Former Senior Vice President, Penguin Solutions and President, Advanced Computing Departed during or after this year | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Nate Olmstead Senior Vice President and Chief Financial Officer | ◇ | ◇ | ◇ | — | — | — | — | ◇ |
Ken Rizvi Former Senior Vice President and Chief Financial Officer Departed during or after this year | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Jack Pacheco Executive Vice President, Chief Operating Officer, and President, Integrated Memory | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Anne Kuykendall Senior Vice President and Chief Legal Officer | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Joseph Clark Senior Vice President, Penguin Solutions and President, Optimized LED | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Mark Adams President and Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Tony Frey Senior Vice President and Chief Revenue Officer | ◇ | ◇ | ◇ | — | — | — | — | ◇ |
Pete Manca Former Senior Vice President, Penguin Solutions and President, Advanced Computing Departed during or after this year | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Anne Kuykendall Senior Vice President and Chief Legal Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Nate Olmstead Senior Vice President and Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Joseph Clark Senior Vice President, Penguin Solutions and President, Optimized LED | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Anne Kuykendall | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Anne Kuykendall | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Joseph Clark | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Joseph Clark | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Mark Adams | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Mark Adams | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Nate Olmstead | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Nate Olmstead | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Pete Manca | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Pete Manca | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Tony Frey | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Tony Frey | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Anne Kuykendall | PSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Mark Adams | PSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Joseph Clark | PSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Nate Olmstead | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Tony Frey | PSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Severance and change in control
The terms as written in the agreements.
Anne Kuykendall
Senior Vice President and Chief Legal Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
| Severance multiple | ◇ |
| Severance base | ◇ |
| Change-in-control multiple | ◇ |
| Equity acceleration on change in control | ◇ |
| Benefits continuation on change in control | ◇ |
| Benefits continuation | ◇ |
Joseph Clark
Senior Vice President, Penguin Solutions and President, Optimized LED · Terms as described in the company’s compensation discussion · citing a 2025 filing
| Severance multiple | ◇ |
| Severance base | ◇ |
| Change-in-control multiple | ◇ |
| Equity acceleration on change in control | ◇ |
| Benefits continuation on change in control | ◇ |
| Benefits continuation | ◇ |
Nate Olmstead
Senior Vice President and Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
| Severance multiple | ◇ |
| Severance base | ◇ |
| Change-in-control multiple | ◇ |
| Equity acceleration on change in control | ◇ |
| Benefits continuation on change in control | ◇ |
| Benefits continuation | ◇ |
Pete Manca
Former Senior Vice President, Penguin Solutions and President, Advanced Computing · Terms as described in the company’s compensation discussion · citing a 2025 filing
| Severance multiple | ◇ |
| Severance base | ◇ |
| Benefits continuation | ◇ |
Tony Frey
Senior Vice President and Chief Revenue Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
| Severance multiple | ◇ |
| Severance base | ◇ |
| Change-in-control multiple | ◇ |
| Equity acceleration on change in control | ◇ |
| Benefits continuation on change in control | ◇ |
| Benefits continuation | ◇ |
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Penelope Herscher Board chair | ◇ | ◇ | — | — | — | — | ◇ |
Maximiliane Straub | ◇ | ◇ | — | — | — | — | ◇ |
Sandeep Nayyar | ◇ | ◇ | — | — | — | — | ◇ |
Bryan Ingram | ◇ | ◇ | — | — | — | — | ◇ |
Mark Papermaster | ◇ | ◇ | — | — | — | — | ◇ |
Mary Puma | ◇ | ◇ | — | — | — | — | ◇ |
Randy Furr | ◇ | — | — | — | — | — | ◇ |
Mark Adams and Min Yong Ha served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Board chair premium | ◇ |
| Lead independent director premium | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance chair | ◇ |
| Nominating and governance member | ◇ |
Equity is delivered as restricted stock units.
Stock ownership guideline: 5x annual cash retainer ($300,000)
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Advanced Energy Industries, Inc. AEIS
- Alpha and Omega Semiconductor Limited AOSL
- BlackBerry Limited BB
- Cohu, Inc. COHU
- Corsair Gaming, Inc. CRSR
- Digi International Inc. DGII
- ePlus inc. PLUS
- Extreme Networks, Inc. EXTR
- Ichor Holdings, Ltd. ICHR
- Infinera Corporation INFN
- MaxLinear, Inc. MXL
- Mercury Systems, Inc. MRCY
- NetScout Systems, Inc. NTCT
- Pegasystems Inc. PEGA
- Photronics, Inc. PLAB
- Ribbon Communications Inc. RBBN
- Semtech Corporation SMTC
- Ultra Clean Holdings, Inc. UCTT
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | February 6, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | — | = | ◇ | — | — |
| 2022 | February 10, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | February 11, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | February 12, 2021 | = | ◇ | ◇ | ◇ |
Chief executive pay ratio
As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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- Mark Adams (President and Chief Executive Officer), FY2025 total compensation $11,711,497 (base salary $890,000) [exec_comp, SEC accession 0001616533-25-000073, filed 2025-12-19]What this page does not include
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Peer benchmarking
Where Penguin Solutions sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
301 figures on this page: 296 cited to the filing that reported them, 5 calculated from figures it prints.
296 cited to the filing
5 calculated from the filing
Documents cited
- 0001616533-26-000013Proposal No. 3: Approval, on a Non-Binding Advisory Basis, of the Compensation of the Company’s Named Executive Officers Stockholders approved, on a non-binding advisory basis, the compensation of the
- 0001628280-24-0522372025 Summary Compensation Table
- 0001616533-25-0000732025 Summary Compensation Table · Compensation Discussion and Analysis · Director Compensation · Director Compensation Table for Fiscal 2025 · and 2 more sections
- 0001140361-23-0584232023 Summary Compensation Table
- 0001193125-23-035771
- 0001140361-22-0463582022 Summary Compensation Table
- 0001193125-22-041641
- 0000950103-21-002576
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This page is free to cite. Attribution we ask for:
Velarion, “Penguin Solutions executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PENG (accessed 2026).
Short form: data: Velarion
The Penguin Solutions brief, $1,500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
8 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Tech — Hardware rankings
Peers Penguin Solutions discloses
The companies named in PENG's own disclosed peer group.
Advanced Energy Industries, Inc.Alpha and Omega Semiconductor LimitedBlackBerry LimitedCohu, Inc.Corsair Gaming, Inc.Digi International Inc.ePlus inc.Extreme Networks, Inc.Ichor Holdings, Ltd.Infinera CorporationMaxLinear, Inc.Mercury Systems, Inc.NetScout Systems, Inc.Pegasystems Inc.Photronics, Inc.Ribbon Communications Inc.Semtech CorporationUltra Clean Holdings, Inc.
Terms on this page
Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}