David Spector - Mar 12, 2024 Form 4 Insider Report for PennyMac Mortgage Investment Trust (PMT)

Role: Chairman and CEO, Director
Signature: /s/ Derek W. Stark, attorney-in-fact for Mr. Spector
Stock symbol: PMT
Transactions as of: Mar 12, 2024
Transactions value $: -$422,345
Form type: 4
Date filed: 3/14/2024, 05:32 PM
Previous filing: Mar 13, 2024
Next filing: Apr 11, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PMT	Common Shares of Beneficial Interest	Award	$0	+31.3K	+10.4%	$0.00	333K	Mar 12, 2024	Direct	F1
transaction	PMT	Common Shares of Beneficial Interest	Options Exercise	$0	+15.3K	+6.29%	$0.00	258K	Mar 12, 2024	Direct	F2
transaction	PMT	Common Shares of Beneficial Interest	Options Exercise	$0	+22K	+8.5%	$0.00	280K	Mar 12, 2024	Direct	F3
transaction	PMT	Common Shares of Beneficial Interest	Options Exercise	$0	+21.1K	+7.53%	$0.00	301K	Mar 12, 2024	Direct	F4
transaction	PMT	Common Shares of Beneficial Interest	Tax liability	-$111K	-7.75K	-2.33%	$14.28	325K	Mar 12, 2024	Direct	F5
transaction	PMT	Common Shares of Beneficial Interest	Tax liability	-$159K	-11.1K	-3.42%	$14.28	314K	Mar 12, 2024	Direct	F5
transaction	PMT	Common Shares of Beneficial Interest	Tax liability	-$153K	-10.7K	-3.41%	$14.28	303K	Mar 12, 2024	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	PMT	Performance-Based Restricted Share Units	Award	$0	+15.3K		$0.00	15.3K	Mar 12, 2024	Common Shares of Beneficial Interest	15.3K		Direct	F2
transaction	PMT	Performance-Based Restricted Share Units	Options Exercise	$0	-15.3K	-100%	$0.00^*	0	Mar 12, 2024	Common Shares of Beneficial Interest	15.3K		Direct	F2
transaction	PMT	Performance-Based Restricted Share Units	Award	$0	+22K		$0.00	22K	Mar 12, 2024	Common Shares of Beneficial Interest	22K		Direct	F3
transaction	PMT	Performance-Based Restricted Share Units	Options Exercise	$0	-22K	-100%	$0.00^*	0	Mar 12, 2024	Common Shares of Beneficial Interest	22K		Direct	F3
transaction	PMT	Performance-Based Restricted Share Units	Award	$0	+21.1K		$0.00	21.1K	Mar 12, 2024	Common Shares of Beneficial Interest	21.1K		Direct	F4
transaction	PMT	Performance-Based Restricted Share Units	Options Exercise	$0	-21.1K	-100%	$0.00^*	0	Mar 12, 2024	Common Shares of Beneficial Interest	21.1K		Direct	F4

* 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	This performance-based restricted share unit (PSU) award was granted on February 17, 2021 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2021, 2022 and 2023. The PSU vested as to one-third on March 12, 2024 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2023 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2023 through December 31, 2023 resulting in a payout of 158.9%.
F3	This performance-based restricted share unit (PSU) award was granted on February 25, 2022 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2022, 2023 and 2024. The PSU vested as to one-third on March 12, 2024 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2023 fiscal year was determined based on return on equity and relative total stockholder return for the period of January 1, 2023 through December 31, 2023 resulting in a payout of 187.5%.
F4	This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installment subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on March 12, 2024 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2023 fiscal year was determined based on return on equity and relative total stockholder return for the period of January 1, 2023 through December 31, 2023 resulting in a payout of 150%.
F5	Represents shares withheld for taxes upon vesting of performance-based restricted share units.
F6	The reported amount consists of 63,940 restricted share units and 239,198 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.