PennyMac CDO reports PSU vesting and tax withholding

PennyMac Financial Services Chief Digital Officer James Follette reported equity compensation activity tied to a performance-based restricted stock unit (PSU) award.

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Rhea-AI Filing Summary

PennyMac Financial Services Chief Digital Officer James Follette reported equity compensation activity tied to a performance-based restricted stock unit (PSU) award. On February 20, 2026, 3,424 PSUs vested, converting into an equal number of shares of common stock at no cash cost.

To cover taxes upon vesting, 1,228 shares of common stock were withheld. After these transactions, Follette held 12,887 shares in total, consisting of 10,017 restricted stock units and 2,870 shares of common stock, all directly owned.

Insider Trade Summary

3,424 shares exercised/converted

Exercise 4 txns

Insider Follette James

Role Chief Digital Officer

Type	Security	Shares	Price	Value
Grant/Award	Performance-Based Restricted Stock Units	3,424	$0.00	$0.00
Exercise	Performance-Based Restricted Stock Units	3,424	$0.00	$0.00
Exercise	Common Stock	3,424	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	1,228	$94.33	$116K

Holdings After Transaction: Performance-Based Restricted Stock Units — 0 contracts (Direct); Common Stock — 12,887 shares (Direct)

Footnotes (3)

F1. This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on February 24, 2023 and vested on February 20, 2026, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Common Stock pursuant to the PSU award was determined based on return on equity and leverage ratio performance for the period of January 1, 2023 through December 31, 2025 resulting in a payout percentage for the award of 37%.
F2. Represents shares withheld for taxes upon vesting of performance-based restricted stock units.
F3. The reported amount consists of 10,017 restricted stock units and 2,870 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did PFSI executive James Follette report?

James Follette reported vesting of 3,424 performance-based restricted stock units and their conversion into common stock. He also reported a related withholding of 1,228 common shares to satisfy tax obligations, all dated February 20, 2026, with direct ownership reported after the transactions.

How many PennyMac Financial Services (PFSI) shares did James Follette own after the Form 4 transactions?

After the reported transactions, James Follette beneficially owned 12,887 shares in total. This amount includes 10,017 restricted stock units and 2,870 shares of common stock, all directly owned and reported as being settled in common stock upon vesting where applicable.

What was the size of the performance-based RSU award reported by PFSI executive James Follette?

The performance-based restricted stock unit award resulted in 3,424 units vesting on February 20, 2026. These PSUs, originally granted on February 24, 2023, converted into an equal number of common shares based on a 37% payout determined by specified performance measures.

Why were some PFSI shares withheld in James Follette’s Form 4 filing?

The filing states that 1,228 shares of PennyMac Financial Services common stock were withheld solely to cover taxes due upon vesting of the performance-based restricted stock units. This is described as payment of tax liability by delivering securities, not an open-market sale.

What performance period determined James Follette’s PFSI PSU payout percentage?

The payout of shares under the performance-based restricted stock unit award was determined using return on equity and leverage ratio performance from January 1, 2023 through December 31, 2025. This performance period led the Compensation Committee to set the final payout percentage at 37%.

What types of securities are involved in James Follette’s PFSI Form 4?

The Form 4 involves performance-based restricted stock units and common stock of PennyMac Financial Services. PSUs vested and converted into 3,424 common shares, and additional entries reflect common shares withheld for tax purposes, with all positions reported as directly owned after the transactions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 02/24/2026 - 06:45 PM EST

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).

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^*

Follette James

(Last)

(First)

(Middle)

C/O PENNYMAC FINANCIAL SERVICES, INC.

3043 TOWNSGATE ROAD

(Street)

WESTLAKE VILLAGE

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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Digital Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/20/2026		M		3,424⁽¹⁾	A	$0	14,115	D
Common Stock	02/20/2026		F		1,228⁽²⁾	D	$94.33	12,887⁽³⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance-Based Restricted Stock Units	⁽¹⁾	02/20/2026		A		3,424		⁽¹⁾	⁽¹⁾	Common Stock	3,424	$0	3,424	D
Performance-Based Restricted Stock Units	⁽¹⁾	02/20/2026		M			3,424	⁽¹⁾	⁽¹⁾	Common Stock	3,424	$0	0	D

Explanation of Responses:

1. This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on February 24, 2023 and vested on February 20, 2026, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Common Stock pursuant to the PSU award was determined based on return on equity and leverage ratio performance for the period of January 1, 2023 through December 31, 2025 resulting in a payout percentage for the award of 37%.

2. Represents shares withheld for taxes upon vesting of performance-based restricted stock units.

3. The reported amount consists of 10,017 restricted stock units and 2,870 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. Follette	02/24/2026
	** 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