PennyMac (PFSI) Insider Sales: Spector Disposes Shares via 10b5-1 Plan

Rhea-AI Filing Summary

PennyMac Financial Services insider sales under prearranged plan. David Spector, Chairman & CEO and a director, reported sales on 08/18/2025 executed automatically under a Rule 10b5-1 trading plan adopted September 2, 2024. The filing discloses sales of 4,304 shares at a weighted-average price of $105.61 and 696 shares at a weighted-average price of $106.44. The reporting person states they will provide, upon request, the specific number of shares and prices for the multiple transactions comprising those averages. The form also identifies holdings described as 36,299 restricted stock units and 541,560 shares of Common Stock in the explanatory notes.

Positive

• Trades executed under a Rule 10b5-1 plan adopted on 09/02/2024, indicating prearranged transactions
• Reporting person offers to provide transaction-level breakdowns of share counts and prices upon request, improving transparency

Negative

• Insider sold shares on 08/18/2025 (4,304 shares at $105.61 weighted-average and 696 shares at $106.44 weighted-average), representing disclosed disposals
• Filing provides weighted-average prices only, requiring a request to obtain exact per-trade quantities and prices

Insights

Corporate Governance Expert

Routine, prearranged insider sales disclosed; limited immediate governance concerns.

The disclosure shows sales executed under a Rule 10b5-1 plan, which reduces the likelihood these trades were timed based on material nonpublic information. The filing includes weighted-average prices for the reported trades and an undertaking to provide transaction-level details on request, which supports transparency. The presence of substantial remaining holdings and restricted stock units is noted in the explanatory footnote.

Securities Analyst

Material share movement is modest vs. total holdings; transaction details are limited to weighted averages.

The reported disposals on 08/18/2025 consist of 4,304 shares at a $105.61 weighted average and 696 shares at a $106.44 weighted average, executed under a 10b5-1 plan adopted 09/02/2024. The filer offers to provide the exact trade-level breakdown on request, indicating the summary prices reflect multiple transactions. Notes disclose 36,299 RSUs and 541,560 common shares as components of reported amounts, but the filing does not provide full transaction-level quantity/price detail within the form itself.

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)
08/18/2025

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	08/18/2025		S(1)		4,304	D	$105.61(2)	131,300	I	ST Family Investment Company LLC
Common Stock	08/18/2025		S(1)		696	D	$106.44(3)	130,604	I	ST Family Investment Company LLC
Common Stock								577,859(4)	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 $105.13 to $106.115. 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 $106.15 to $106.96. 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 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	08/20/2025
	** 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

What insider transactions did PFSI report for David Spector on 08/18/2025?

The Form 4 reports sales on 08/18/2025 of 4,304 shares at a $105.61 weighted-average price and 696 shares at a $106.44 weighted-average price, executed under a Rule 10b5-1 plan.

Were the sales by PFSI insider David Spector part of a 10b5-1 plan?

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

Does the Form 4 provide exact trade-by-trade prices for the PFSI transactions?

No. The Form 4 lists weighted-average prices and the reporting person undertakes to provide exact trade counts and prices upon request to the SEC, the issuer, or a security holder.

What holdings does the filing disclose for David Spector after these transactions?

The explanatory note states the reported amount includes 36,299 restricted stock units and 541,560 shares of Common Stock; those figures are presented in the filing's explanatory section.

What role does David Spector have at PennyMac Financial Services (PFSI)?

The Form 4 identifies David Spector as Chairman & CEO and a Director of PennyMac Financial Services, Inc.