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PennyMac CEO’s Form 4 Shows Non-Market Share Transfer

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

PennyMac Financial Services (PFSI) – Form 4 insider filing. Chairman & CEO David Spector reported a Code J transaction on 25 Jul 2025 relating to 25,000 PFSI common shares.

The shares were transferred with no consideration to Mr. Spector’s former spouse pursuant to a divorce settlement; no market sale occurred and the company received no proceeds. After the transfer, Mr. Spector’s direct beneficial ownership stands at 577,859 shares, comprised of 541,560 common shares and 36,299 restricted stock units. In addition, he continues to hold 135,604 shares indirectly through ST Family Investment Company LLC.

The filing signals a modest reduction in the CEO’s direct stake (about 4% of his previously reported direct holdings) but is personal in nature and not indicative of a view on the company’s prospects. No derivative transactions or option exercises were reported.

Positive

  • None.

Negative

  • CEO’s direct stake declines by 25,000 shares, reflecting a 4% reduction in his previously reported direct holdings, which may raise minor governance optics concerns.

Insights

TL;DR: Non-economic share transfer; limited market impact.

The Code J classification confirms the 25,000-share reduction stems from a divorce settlement, not a discretionary sale. Post-transaction, Spector still owns roughly 713k shares (direct + indirect), maintaining strong alignment with shareholders. Because the transfer is involuntary and volume is small relative to PFSI’s 56 m outstanding shares, price impact should be negligible. Investors should monitor future filings to ensure no pattern of economic selling emerges.

Insider SPECTOR DAVID
Role Chairman & CEO
Type Security Shares Price Value
Other Common Stock 25,000 $0.00 --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 577,859 shares (Direct); Common Stock — 135,604 shares (Indirect, ST Family Investment Company LLC)
Footnotes (1)
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Form 4 Insider Transactions: What Each Field Means →
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
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
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)
07/25/2025
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 07/25/2025 J 25,000(1) D $0 577,859 D
Common Stock 135,604 I ST Family Investment Company LLC
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. Pursuant to a divorce settlement, these shares of Common Stock were transferred for no consideration to the reporting person's former spouse and the reporting person no longer reports that he is the beneficial owner of these shares. The remaining amount consists of 36,299 restricted stock units and 541,560 shares of Common Stock.
/s/ Derek W. Stark, attorney-in-fact for Mr. Spector 07/28/2025
** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What did PFSI CEO David Spector report in the July 2025 Form 4?

He transferred 25,000 common shares to his former spouse with no consideration under a divorce settlement.

Was the July 25 transaction a sale on the open market?

No. The Form 4 lists Transaction Code J, indicating a non-market transfer for personal reasons.

How many PFSI shares does David Spector own after this filing?

He holds 577,859 shares directly (including 36,299 RSUs) and 135,604 shares indirectly via ST Family Investment Company LLC.

Does the transfer affect PFSI’s financials or cash flow?

No. The company received no proceeds; the transaction is entirely between private parties.

Should investors be concerned about insider sentiment at PFSI?

Because the transfer is mandated by a divorce settlement, it does not signal a change in the CEO’s outlook on the company.