PennyMac CEO Reports 5,000-Share Sale; 577,859 Shares Beneficially Owned

Rhea-AI Filing Summary

David Spector, Chairman & CEO of PennyMac Financial Services, Inc. (PFSI), reported sales of common stock on 09/23/2025 under a Rule 10b5-1 trading plan adopted 09/02/2024. The Form 4 shows three non-derivative sale transactions totaling 5,000 shares at weighted-average prices in the $121.8450–$124.225 range. Each sale is reported as indirect through ST Family Investment Company LLC.

The filing also reports an aggregate holding amount identified as 577,859 shares (consisting of 541,560 shares of common stock and 36,299 restricted stock units that settle into common stock upon vesting). The form was signed by an attorney-in-fact on 09/24/2025.

Positive

• Sales executed under a Rule 10b5-1 plan, indicating preplanned transactions
• Weighted-average price ranges disclosed for the executed trades
• Restricted stock units disclosed (36,299 RSUs) clarifying future settlement into shares

Negative

• Insider disposed of 5,000 shares on 09/23/2025, which may be notable to some investors
• Some holdings are indirect through ST Family Investment Company LLC, requiring attention to beneficial ownership structure

Insights

Securities Analyst

TL;DR: Insider sales of 5,000 shares were executed under a pre-existing 10b5-1 plan; substantial indirect holdings and RSUs remain.

The transactions reported are routine sales under an established Rule 10b5-1 plan, which typically indicates pre-scheduled disposition rather than opportunistic trading. The sale quantities are comparatively small relative to the reported aggregate beneficial ownership of 577,859 shares (including 36,299 RSUs), so the transactions are unlikely to materially change control or voting influence. All sales are reported as indirect via ST Family Investment Company LLC, consistent with holdings structured through an entity. Documentation provides weighted-average price ranges for the executed trades, and the filer offers to provide transaction-level details upon request.

Corporate Governance Expert

TL;DR: Disclosures appear complete for a Form 4: sales executed under a 10b5-1 plan and RSU holdings disclosed; signature executed by attorney-in-fact.

From a governance perspective, the key compliance elements are present: identification of the reporting person, relationship to the issuer (Chairman & CEO and director), clear notice that sales were pursuant to a 10b5-1 trading plan, and explanation of weighted-average price ranges. The filing also discloses restricted stock units expected to settle into common shares, which is important for assessing future dilution and insider alignment. The attorney-in-fact signature is provided and dated, satisfying execution formalities.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

SPECTOR DAVID

(Last) (First) (Middle)

C/O PENNYMAC FINANCIAL SERVICES, INC.

3043 TOWNSGATE ROAD

(Street)

WESTLAKE VILLAGE CA 91361

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PennyMac Financial Services, Inc. [ PFSI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman & CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/23/2025		S(1)		1,658	D	$122.46(2)	128,946	I	ST Family Investment Company LLC
Common Stock	09/23/2025		S(1)		3,128	D	$123.16(3)	125,818	I	ST Family Investment Company LLC
Common Stock	09/23/2025		S(1)		214	D	$124.03(4)	125,604	I	ST Family Investment Company LLC
Common Stock								577,859(5)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sales reported occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 2, 2024.

2. The price reported is the weighted average price of multiple transactions ranging from $121.8450 to $122.83. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

3. The price reported is the weighted average price of multiple transactions ranging from $122.86 to $123.8550. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

4. The price reported is the weighted average price of multiple transactions ranging from $123.86 to $124.225. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

5. The reported amount consists of 36,299 restricted stock units and 541,560 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

	/s/ Derek W. Stark, attorney-in-fact for Mr. Spector	09/24/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What transactions did PFSI insider David Spector report on Form 4?

The filing reports three non-derivative sales totaling 5,000 shares of PFSI common stock on 09/23/2025 executed under a Rule 10b5-1 plan.

Were the sales by the PFSI insider preplanned or discretionary?

The Form 4 states the sales occurred automatically pursuant to a Rule 10b5-1 trading plan adopted on 09/02/2024.

What prices were the PFSI shares sold at in these transactions?

The filing discloses weighted-average price ranges: $121.8450–$122.83, $122.86–$123.8550, and $123.86–$124.225 for the respective sale groups.

How many PFSI shares does the reporting person beneficially own after the transactions?

The Form 4 shows an aggregate reported amount of 577,859 shares consisting of 541,560 common shares and 36,299 restricted stock units that will settle into common stock upon vesting.

Who signed the Form 4 for the reporting person?

The Form 4 was signed by Derek W. Stark, attorney-in-fact for Mr. Spector on 09/24/2025.