DAVID SPECTOR - 24 Feb 2025 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
Issuer symbol: PMT
Transactions as of: 24 Feb 2025
Net transactions value: -$328,601
Form type: 4
Filing time: 26 Feb 2025, 21:19:26 UTC
Previous filing: 25 Feb 2025
Next filing: 03 Mar 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PMT	Common Shares of Beneficial Interest	Award	$0	+44,649	+15%	$0.000000	347,787	24 Feb 2025	Direct	F1
transaction	PMT	Common Shares of Beneficial Interest	Options Exercise	$0	+12,900	+3.7%	$0.000000	360,687	24 Feb 2025	Direct	F2
transaction	PMT	Common Shares of Beneficial Interest	Options Exercise	$0	+11,269	+3.1%	$0.000000	371,956	24 Feb 2025	Direct	F3
transaction	PMT	Common Shares of Beneficial Interest	Options Exercise	$0	+10,224	+2.7%	$0.000000	382,180	24 Feb 2025	Direct	F4
transaction	PMT	Common Shares of Beneficial Interest	Tax liability	$97,744	-6,947	-1.8%	$14.07	375,233	24 Feb 2025	Direct	F5
transaction	PMT	Common Shares of Beneficial Interest	Tax liability	$85,391	-6,069	-1.6%	$14.07	369,164	24 Feb 2025	Direct	F5
transaction	PMT	Common Shares of Beneficial Interest	Tax liability	$77,469	-5,506	-1.5%	$14.07	363,658	24 Feb 2025	Direct	F5
transaction	PMT	Common Shares of Beneficial Interest	Tax liability	$67,996	-4,819	-1.3%	$14.11	358,839	25 Feb 2025	Direct	F6, F7

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	+12,900		$0.000000	12,900	24 Feb 2025	Common Shares of Beneficial Interest	12,900		Direct	F2
transaction	PMT	Performance-Based Restricted Share Units	Options Exercise	$0	-12,900	-100%	$0.000000	0	24 Feb 2025	Common Shares of Beneficial Interest	12,900		Direct	F2
transaction	PMT	Performance-Based Restricted Share Units	Award	$0	+11,269		$0.000000	11,269	24 Feb 2025	Common Shares of Beneficial Interest	11,269		Direct	F3
transaction	PMT	Performance-Based Restricted Share Units	Options Exercise	$0	-11,269	-100%	$0.000000	0	24 Feb 2025	Common Shares of Beneficial Interest	11,269		Direct	F3
transaction	PMT	Performance-Based Restricted Share Units	Award	$0	+10,224		$0.000000	10,224	24 Feb 2025	Common Shares of Beneficial Interest	10,224		Direct	F4
transaction	PMT	Performance-Based Restricted Share Units	Options Exercise	$0	-10,224	-100%	$0.000000	0	24 Feb 2025	Common Shares of Beneficial Interest	10,224		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 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 February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 110.2%.
F3	This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments 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 February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.
F4	This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.
F5	Represents shares withheld for taxes upon vesting of performance-based restricted share units.
F6	Represents shares withheld for taxes upon vesting of restricted share units.
F7	The reported amount consists of 99,010 restricted share units and 259,829 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.