PennyMac CEO's Minor Insider Sale: 5k Shares Sold, 602k Still Held

Rhea-AI Filing Summary

PennyMac Financial Services (PFSI) – Form 4 filing: Chairman & CEO David Spector disclosed the automatic sale of 5,000 PFSI common shares on 07 July 2025 under a Rule 10b5-1 trading plan adopted 02 Sep 2024. Three block trades were executed at weighted-average prices of $100.48, $101.51 and $102.37, generating proceeds of roughly $0.5 million. The shares were held indirectly through ST Family Investment Company LLC. After the transactions, Spector still beneficially owns 602,859 shares (566,560 common shares plus 36,299 restricted stock units), indicating that the disposition represents <1 % of his total holdings. No derivative transactions were reported.

Insights

Securities Analyst

TL;DR: CEO sold 5k shares (<1%) via 10b5-1 plan; immaterial for valuation.

The filing shows routine diversification rather than a strategic signal. Spector’s remaining 602,859-share stake aligns incentives with shareholders, and the use of a pre-arranged 10b5-1 plan mitigates concerns over timing. Transaction size (~$0.5 M) is negligible relative to PFSI’s average daily volume and the CEO’s overall stake, so the filing is not expected to influence share price or corporate strategy.

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).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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)
07/07/2025

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	07/07/2025		S(1)		3,571	D	$100.48(2)	137,033	I	ST Family Investment Company LLC
Common Stock	07/07/2025		S(1)		1,224	D	$101.51(3)	135,809	I	ST Family Investment Company LLC
Common Stock	07/07/2025		S(1)		205	D	$102.37(4)	135,604	I	ST Family Investment Company LLC
Common Stock								602,859(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 in the Form 4 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 $100.055 to $101.03. 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 $101.05 to $102.02. 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 $102.06 to $102.635. 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 566,560 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	07/08/2025
	** 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.

FAQ

How many PFSI shares did CEO David Spector sell on 07-Jul-2025?

He sold 5,000 common shares across three transactions.

At what prices were the PFSI shares sold?

Weighted-average prices were $100.48, $101.51 and $102.37 per share.

Was the sale executed under a 10b5-1 trading plan?

Yes. The transactions occurred automatically under a Rule 10b5-1 plan adopted on 02-Sep-2024.

How many PFSI shares does the CEO still own after the sale?

David Spector beneficially owns 602,859 shares, including 36,299 RSUs.

Is the insider sale considered material for investors?

Given the sale is less than 1 % of the CEO’s holdings, it is generally viewed as immaterial.