Penguin Solutions expands board to 8, appoints Nokia Network Infrastructure President

Filed May 18, 2026 · Period ending May 18, 2026 · ~1 min read

Key Changes

• medium

  Board expanded from 7 to 8 members and appointed David Heard, President of Network Infrastructure at Nokia, as independent Class I director and Compensation Committee member, effective immediately with term through 2029 annual meeting.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• medium

  Heard brings 30+ years of telecom infrastructure experience, including CEO of Infinera Corporation (Nov 2020–Feb 2025) before Nokia's acquisition, and current role leading Nokia's fixed and mobile broadband infrastructure business since June 2025.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• low

  Heard will receive initial grant of 4,485 restricted stock units vesting in two tranches: 2,562 units on first anniversary and remainder on January 31, 2028, subject to continued Board service.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →