Business Context and Reporting Period
This Form 8-K was filed by SMART Global Holdings, Inc. (not Penguin Solutions, Inc.) on September 18, 2017. The registrant is a Cayman Islands exempted company. The report details corporate governance changes effective September 19, 2017.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive appointments and compensation.
Material Changes
The primary material change is the appointment of Randy W. Furr to the Board of Directors and the Audit Committee. His compensation package includes:
- Annual cash retainer of $60,000 for Board service.
- Annual cash retainer of $10,000 for committee service.
- A grant of restricted stock units (RSUs) with a grant date value of approximately $170,000, vesting in two installments through January 2019.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding business outlook, guidance, risks, contingencies, or unusual items. The document is strictly a notification of a director appointment.
Investor Verification Checklist
- Verify the correct registrant name is SMART Global Holdings, Inc., not Penguin Solutions, Inc.
- Confirm the effective date of Randy W. Furr's board appointment (September 19, 2017).
- Review the vesting schedule for the $170,000 RSU grant (two installments through January 2019).
- Note that this filing does not contain financial results; refer to 10-K or 10-Q filings for financial data.