James Follette - 24 Feb 2023 Form 4 Insider Report for PennyMac Financial Services, Inc. (PFSI)

Role
Chief Mort Fulfillment Off.
Signature
/s/ Derek W. Stark, attorney-in-fact for Mr. Follette
Issuer symbol
PFSI
Transactions as of
24 Feb 2023
Net transactions value
$0
Form type
4
Filing time
28 Feb 2023, 20:31:59 UTC
Previous filing
27 Feb 2023
Next filing
01 Mar 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PFSI Common Stock Award $0 +4,630 +36% $0.000000 17,532 24 Feb 2023 Direct F1, F2
transaction PFSI Common Stock Options Exercise $0 +20,166 +115% $0.000000 37,698 24 Feb 2023 Direct F3, F4
transaction PFSI Common Stock Tax liability $0 -8,495 -23% $0.000000 29,203 24 Feb 2023 Direct F5, F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PFSI Nonstatutory Stock Option (Right to Buy) Award $0 +11,575 $0.000000 11,575 24 Feb 2023 Common Stock 11,575 $60.74 Direct F7
transaction PFSI Performance-Based Restricted Stock Units Award $0 +20,166 $0.000000 20,166 24 Feb 2023 Common Stock 20,166 Direct F3
transaction PFSI Performance-Based Restricted Stock Units Options Exercise $0 -20,166 -100% $0.000000* 0 24 Feb 2023 Common Stock 20,166 Direct F3
holding PFSI Nonstatutory Stock Option (Right to Buy) 5,839 24 Feb 2023 Common Stock 5,839 $22.92 Direct
holding PFSI Nonstatutory Stock Option (Right to Buy) 20,259 24 Feb 2023 Common Stock 20,259 $59.68 Direct
holding PFSI Nonstatutory Stock Option (Right to Buy) 15,404 24 Feb 2023 Common Stock 15,404 $35.03 Direct
holding PFSI Nonstatutory Stock Option (Right to Buy) 12,935 24 Feb 2023 Common Stock 12,935 $58.85 Direct
holding PFSI Nonstatutory Stock Option (Right to Buy) 27,645 24 Feb 2023 Common Stock 27,645 $57.10 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person was granted restricted stock units, which will vest in three equal installments beginning on the first anniversary of the date of grant, are to be settled in an equal number of shares of Common Stock upon vesting.
F2 The reported amount consists of 15,049 restricted stock units and 2,483 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.
F3 This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on February 26, 2020 and vested on February 24, 2023, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Common Stock pursuant to the PSU award was determined based on return on equity and leverage ratio performance for the period of January 1, 2020 through December 31, 2022 resulting in a payout percentage for the award of 162%.
F4 The reported amount consists of 15,049 restricted stock units and 22,649 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.
F5 Represents shares withheld for taxes upon vesting of performance-based restricted stock units.
F6 The reported amount consists of 15,049 restricted stock units and 14,154 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.
F7 This nonstatutory stock option to purchase 11,575 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each of February 24, 2024, 2025 and 2026, subject to the Reporting Person's continued service through each date.