PennyMac Financial (NYSE: PFSI) appoints AI leader Tiffany To to board
Rhea-AI Filing Summary
PennyMac Financial Services, Inc. announced that its Board of Directors has elected Tiffany To, the CEO and Co-Founder of AI software company Ontollo, as a new director. She will serve until the next annual stockholder meeting or until a successor is elected.
Ms. To will receive the same compensation as other independent directors, including an annual cash retainer of $107,500 and a one-time grant of restricted stock units valued at $177,500 under the 2022 Equity Incentive Plan, vesting after one year. She will also enter into the company’s standard indemnification agreement for directors.
The press release highlights Ms. To’s experience leading AI-driven and enterprise technology initiatives at Ontollo, Atlassian, ForAllSecure, and other technology firms. It also notes that for the twelve months ended March 31, 2026, PennyMac produced $154 billion of newly originated loans and serviced $720 billion of loans, underscoring its scale in the U.S. mortgage market.
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8-K Event Classification
Key Figures
Key Terms
restricted stock units financial
2022 Equity Incentive Plan financial
indemnification agreement regulatory
unpaid principal balance financial
mortgage servicer financial
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Election of Directors. On June 5, 2026, the Board of Directors (the “Board”) of PennyMac Financial Services, Inc. (the “Company”) elected Tiffany To as a member of the Board. Ms. To will serve until the Company’s next annual meeting of stockholders or until her successor is duly elected and qualified or until her earlier death, resignation or removal. Ms. To has not been appointed to serve on any Board committees.
In consideration for her services as a director of the Company, Ms. To will be entitled to receive compensation on the same terms and in the same amounts as the other independent directors. Accordingly, Ms. To is expected to receive an annual base retainer of $107,500. In connection with her election to the Board, Ms. To will receive a one-time equity grant of restricted stock units with a value of $177,500 under the Company’s 2022 Equity Incentive Plan (with such amount to be prorated based on days of service on the Board during the annual equity award cycle) that vests in full on the first anniversary of the date of grant.
In connection with her election, Ms. To will enter into an indemnification agreement with the Company in the same form of indemnification agreement that the Company has entered into with its other directors. There are no other arrangements or understandings between Ms. To and any other persons pursuant to which she was selected as a director. Ms. To is not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K and has no family relationship with any director or executive officer of the Company. A copy of the press release announcing the appointment of Ms. To is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number |
Description | |
| 99.1 | Press Release | |
| 104* | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
* Filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PENNYMAC FINANCIAL SERVICES, INC. | |
| Date: June 11, 2026 | /s/ Daniel S. Perotti |
| Daniel S. Perotti | |
| Senior Managing Director and Chief Financial Officer |
Exhibit 99.1
PennyMac Financial Services, Inc. Announces
Tiffany To Has Joined Its Board of Directors
Ontollo CEO brings deep scaling and technology transformation experience to the mortgage industry's premier tech-first platform
WESTLAKE VILLAGE, Calif. – June 9, 2026 — PennyMac Financial Services, Inc. (NYSE: PFSI) (Pennymac) announced today that Tiffany To, enterprise AI expert and CEO and Co-Founder of AI and operational intelligence software company Ontollo, has joined its Board of Directors.
“We are pleased to welcome Tiffany to PFSI’s Board of Directors,” said David Spector, Chairman and CEO of Pennymac. “She has spent her career at the forefront of AI and business transformation, building products, leading organizations, and helping enterprises turn technology into real competitive advantage. Tiffany’s experience and perspective as a cutting-edge founder, operator, and technology leader will be valuable as Pennymac continues to leverage its tech-first platform in leading the mortgage industry. We are confident Tiffany will make an immediate and lasting impact.”
Throughout her career, Ms. To has guided both startups and global enterprises through transformations that connect new technology directly to business outcomes. She is currently the CEO and Co-Founder of Ontollo, a software development and operational intelligence platform. Prior to her current role, she was EVP and GM of Enterprise & Platform at Atlassian, where she led the Enterprise business and Platform teams to build an AI-driven knowledge work system for their 300,000 customers. Earlier in her career, she served as Chief Operating Officer and Member of the Board of Directors at ForAllSecure, where she built a go-to-market strategy for transforming cybersecurity technology from Carnegie Mellon into enterprise-ready product for the Department of Defense, as well as clients in the aerospace, automotive, and high-tech industries. She has also held leadership roles at Cohesity, Coho Data, Nutanix, VMware, and Intel, Silicon Graphics, and Symbol Technologies. Ms. To holds a Bachelor of Science in Computer Systems Engineering from Stanford University, and an MBA from UC Berkeley Haas School of Business.
About PennyMac Financial Services, Inc.
PennyMac Financial Services, Inc. is a specialty financial services firm focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. Founded in 2008, the company is recognized as a leader in the U.S. residential mortgage industry and employs approximately 5,300 people across the country. For the twelve months ended March 31, 2026, PFSI’s production of newly originated loans totaled $154 billion in unpaid principal balance, making it a top lender in the nation. As of March 31, 2026, PFSI serviced loans totaling $720 billion in unpaid principal balance, making it a top mortgage servicer in the nation. Additional information about PFSI is available at pfsi.pennymac.com.
| Media | Investors |
| Kristyn Clark | Kevin Chamberlain |
| mediarelations@pennymac.com | Isaac Garden |
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