Business Context and Reporting Period
This Form 8-K was filed by SMART Global Holdings, Inc. (SGH), a Cayman Islands exempted company, on April 2, 2019, reporting events occurring on April 1, 2019. The filing addresses corporate governance changes rather than financial performance. Note: The request metadata references "Penguin Solutions, Inc.," but the filing text explicitly identifies the registrant as SMART Global Holdings, Inc.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics. The only financial data disclosed relates to executive compensation:
- Annual Cash Retainer (Board Service): $60,000
- Annual Cash Retainer (Committee Service): $10,000
- Restricted Stock Units (RSU) Grant Value: Approximately $220,000
Material Changes
The material change reported is the appointment of Maximiliane Straub to the Board of Directors, effective April 1, 2019. She has also been appointed to the Audit Committee. This appointment introduces new governance oversight and associated compensation obligations.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business operations. No specific risks or contingencies are disclosed in this report. The RSU grant vests in two installments through January 2021.
Investor Verification Checklist
- Verify the identity of the registrant (SMART Global Holdings, Inc.) against the metadata provided (Penguin Solutions, Inc.).
- Confirm the vesting schedule and performance conditions of the $220,000 RSU grant for Ms. Straub.
- Review the attached press release (Exhibit 99.1) for additional biographical details on the new director.
- Check subsequent filings for any impact of this appointment on the company's overall compensation expense.