<SEC-DOCUMENT>0001628280-24-043326.txt : 20241022
<SEC-HEADER>0001628280-24-043326.hdr.sgml : 20241022
<ACCEPTANCE-DATETIME>20241022191823
ACCESSION NUMBER:		0001628280-24-043326
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20241019
FILED AS OF DATE:		20241022
DATE AS OF CHANGE:		20241022

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Adams Mark
		CENTRAL INDEX KEY:			0001349123
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38102
		FILM NUMBER:		241387526

	MAIL ADDRESS:	
		STREET 1:		834 TERRACE DRIVE
		CITY:			LOS ALTOS
		STATE:			CA
		ZIP:			94024

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Penguin Solutions, Inc.
		CENTRAL INDEX KEY:			0001616533
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				981013909
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			0830

	BUSINESS ADDRESS:	
		STREET 1:		39870 EUREKA DRIVE
		CITY:			NEWARK
		STATE:			CA
		ZIP:			94560-4809
		BUSINESS PHONE:		(510) 623-1231

	MAIL ADDRESS:	
		STREET 1:		39870 EUREKA DRIVE
		CITY:			NEWARK
		STATE:			CA
		ZIP:			94560-4809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SMART Global Holdings, Inc.
		DATE OF NAME CHANGE:	20140813
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
<FILENAME>wk-form4_1729639095.xml
<DESCRIPTION>FORM 4
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    <issuer>
        <issuerCik>0001616533</issuerCik>
        <issuerName>Penguin Solutions, Inc.</issuerName>
        <issuerTradingSymbol>PENG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001349123</rptOwnerCik>
            <rptOwnerName>Adams Mark</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PENGUIN SOLUTIONS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>39870 EUREKA DRIVE</rptOwnerStreet2>
            <rptOwnerCity>NEWARK</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94560</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President and CEO</officerTitle>
            <otherText></otherText>
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        <nonDerivativeTransaction>
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                    <value>31675</value>
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        <nonDerivativeTransaction>
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                <transactionFormType>4</transactionFormType>
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                <footnoteId id="F6"/>
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                <transactionShares>
                    <value>125000</value>
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                    <value>D</value>
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        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares</value>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>The Adams Family Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">On October 1, 2021, the reporting person was granted performance-based restricted share units (&quot;PSUs&quot;), the vesting of which is (i) tied to the achievement of total shareholder return goals relative to the performance of the median company in the Russell 2000 Index following the end of a given three-year performance period, and (ii) subject to the reporting person's continued employment through the date of certification of performance by the Compensation Committee of the Issuer's Board of Directors (the &quot;Committee&quot;). On October 19, 2024, the Committee certified the performance goal achievement and determined that 93,116 PSUs were earned by the reporting person and vested as of such date.</footnote>
        <footnote id="F2">Reflects shares surrendered to the Issuer to satisfy tax withholding obligations in connection with vesting of PSUs. No shares were sold.</footnote>
        <footnote id="F3">Reflects shares surrendered to the Issuer to satisfy tax withholding obligations in connection with vesting of restricted shares. No shares were sold.</footnote>
        <footnote id="F4">Reflects shares surrendered to the Issuer to satisfy tax withholding obligations in connection with vesting of restricted share units. No shares were sold.</footnote>
        <footnote id="F5">Reflects shares surrendered to the Issuer to satisfy tax withholding obligations in connection with vesting of performance shares. No shares were sold.</footnote>
        <footnote id="F6">Reflects shares forfeited pursuant to the terms of a previously disclosed performance-based restricted share award due to non-attainment of the applicable performance conditions. No shares were sold.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Anne Kuykendall as attorney-in-fact for Mark Adams</signatureName>
        <signatureDate>2024-10-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
