PennyMac Financial Director Boosts Holdings With Equity Fee Grant

Rhea-AI Filing Summary

PennyMac Financial Services (PFSI) Form 4: Director Farhad Nanji reported the receipt of 274 common shares on 07/24/2025 at an accounting price of $100.92 per share. The shares were issued in lieu of cash compensation for board service and are exempt under Rule 16b-3. After the transaction, Nanji directly holds 185,070 shares, including 1,547 RSUs that will settle one-for-one in common stock upon vesting. He also retains an indirect stake of 4,531,792 shares through MFN Partners, LP. No derivative transactions were reported. The filing indicates continued board affiliation and no change to the substantial indirect holding.

Positive

• Director acquired 274 additional shares, modestly increasing direct ownership and signaling continued insider alignment with shareholders.
• Large indirect holding of 4.53 M shares remains intact, underscoring substantial insider commitment.

Negative

• None.

Insights

Financial Analyst

TL;DR: Small equity-for-fee grant; negligible valuation impact but reinforces insider alignment.

The 274-share award is routine board compensation worth roughly $28k and increases direct ownership by just 0.15%. Combined with Nanji’s 4.53 M indirect shares (≈28% of PFSI’s float), the filing shows sustained, significant insider exposure. While the incremental purchase is too small to move valuation, ongoing high ownership aligns director incentives with shareholders. No sell signals were disclosed, so sentiment skews mildly constructive but overall impact on stock performance remains minimal.

Corporate Governance Expert

TL;DR: Routine Form 4; maintains strong insider ownership, no governance red flags.

Equity-based director compensation is standard practice and fully compliant with Rule 16b-3. Nanji’s aggregate stake (direct + indirect) underscores meaningful skin-in-the-game, a positive governance signal. The absence of dispositions or complex derivatives limits risk perceptions. Given the small share count, market materiality is low; however, the filing affirms transparency and proper Section 16 reporting protocols.

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
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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^*

NANJI FARHAD

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

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	07/24/2025		A		274(1)	A	$100.92	185,070(2)	D
Common Stock								4,531,792	I	MFN Partners, LP

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 Reporting Person received these shares in lieu of cash compensation payable for services rendered as a non-management director of Issuer during the previous quarter. The transaction is exempt under Rule 16b-3 of the Securities Exchange Act of 1934.

2. The reported amount consists of 1,547 restricted stock units and 183,523 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. Nanji	07/25/2025
	** 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 Farhad Nanji acquire?

He received 274 common shares on 07/24/2025.

What price was assigned to the acquired shares?

The accounting price reported was $100.92 per share.

What is Nanji’s total direct ownership after the transaction?

His direct holdings total 185,070 shares (including 1,547 RSUs).

How many PFSI shares does Nanji own indirectly?

He indirectly owns 4,531,792 shares through MFN Partners, LP.

Was the acquisition an open-market purchase?

No. The shares were issued in lieu of cash compensation under Rule 16b-3.

Does the filing indicate any share sales by the director?

No sales or derivative dispositions were reported in this Form 4.