PennyMac (NYSE: PFSI) CFO trust sale and new Deferred Units detailed
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PennyMac Financial Services, Inc.'s Chief Financial Officer, Daniel Stanley Perotti, reported several equity transactions involving company securities. A Perotti-related entity, The Perotti Family Trust, completed an open-market sale of 2,925 shares of Common Stock at $93.30 per share, leaving 213,550 Common shares held indirectly after the sale.
Separately, the CFO received a grant of 71 Deferred Units at no cost, each representing the right to one share of Common Stock, which becomes payable upon his termination of employment. In connection with restricted stock unit vesting, 631 Common shares were disposed of to cover taxes, and 71 Common shares were exchanged for an equal number of Deferred Units.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 2,925 shares ($272,903)
Net Sell
4 txns
Insider
Perotti Daniel Stanley
Role
Chief Financial Officer
Sold
2,925 shs ($273K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 2,925 | $93.30 | $273K |
| Grant/Award | Deferred Unit | 71 | $0.00 | -- |
| Tax Withholding | Common Stock | 631 | $92.01 | $58K |
| Disposition | Common Stock | 71 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 213,550 shares (Indirect, The Perotti Family Trust);
Deferred Unit — 71 shares (Direct);
Common Stock — 14,798 shares (Direct)
Footnotes (1)
- Represents shares withheld for taxes upon vesting of restricted stock units. Upon the partial vesting of restricted stock units granted to the Reporting Person February 14, 2025, the Reporting Person deferred the receipt of 71 shares of Common Stock and received instead 71 shares of Deferred Units pursuant to the Company's Executive Deferred Compensation Plan. As a result, the Reporting Person is reporting the disposition of 71 shares of Common Stock in exchange for an equal number of shares of Deferred Units. The reported amount consists of 13,792 restricted stock units and 935 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting. Each share of Deferred Units represents a right to receive one share of Common Stock. The Deferred Units become payable upon the Reporting Person's termination of employment with the Company.
FAQ
What insider transactions did PennyMac (PFSI) report for its CFO?
PennyMac’s CFO reported an open-market sale of 2,925 Common shares by The Perotti Family Trust, plus equity award activity including a 71-unit Deferred Unit grant and share dispositions tied to restricted stock unit vesting and tax withholding.
What Deferred Units did the PennyMac (PFSI) CFO acquire in this Form 4?
The CFO acquired 71 Deferred Units at a price of $0.00 per unit. Each Deferred Unit represents a right to receive one share of Common Stock, becoming payable when his employment with the company terminates under the Executive Deferred Compensation Plan.
How were restricted stock units handled in the PennyMac (PFSI) CFO’s filing?
Upon partial vesting of restricted stock units, 631 Common shares were withheld to satisfy tax obligations. Additionally, 71 vested Common shares were exchanged for 71 Deferred Units, reflecting a deferral election under the company’s Executive Deferred Compensation Plan.
What is the CFO’s reported PennyMac (PFSI) direct equity position after these transactions?
Following these transactions, the CFO reported direct ownership of 14,727 Common shares. This direct position includes 13,792 restricted stock units and 935 shares of Common Stock, with each restricted stock unit settling into one Common share upon vesting.
When do the PennyMac (PFSI) Deferred Units reported by the CFO become payable?
The Deferred Units become payable upon the CFO’s termination of employment with PennyMac. Each Deferred Unit entitles him to receive one share of Common Stock at that time, according to the company’s Executive Deferred Compensation Plan terms.