PMT (PMT) legal chief reports RSU vesting, conversions and tax share offsets
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PennyMac Mortgage Investment Trust Chief Legal Officer Derek Stark reported multiple equity compensation transactions involving performance-based restricted share units and common shares. On February 23, 2026, several performance-based restricted share unit awards vested and were exercised into common shares of beneficial interest at $0.00 per share. The filing shows related tax-withholding dispositions of common shares at $12.29 per share to cover tax obligations upon vesting. After these transactions, Stark directly owned 65,450 common shares of beneficial interest, consisting of 24,755 restricted share units and 40,695 common shares, which together represent his reported equity position following the grants, vesting, conversions, and tax withholdings.
Positive
- None.
Negative
- None.
Insider Trade Summary
6,288 shares exercised/converted
Mixed
13 txns
Insider
STARK DEREK
Role
Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance-Based Restricted Share Units | 1,949 | $0.00 | -- |
| Exercise | Performance-Based Restricted Share Units | 1,949 | $0.00 | -- |
| Grant/Award | Performance-Based Restricted Share Units | 1,768 | $0.00 | -- |
| Exercise | Performance-Based Restricted Share Units | 1,768 | $0.00 | -- |
| Grant/Award | Performance-Based Restricted Share Units | 2,571 | $0.00 | -- |
| Exercise | Performance-Based Restricted Share Units | 2,571 | $0.00 | -- |
| Exercise | Common Shares of Beneficial Interest | 1,949 | $0.00 | -- |
| Exercise | Common Shares of Beneficial Interest | 1,768 | $0.00 | -- |
| Exercise | Common Shares of Beneficial Interest | 2,571 | $0.00 | -- |
| Tax Withholding | Common Shares of Beneficial Interest | 700 | $12.29 | $9K |
| Tax Withholding | Common Shares of Beneficial Interest | 635 | $12.29 | $8K |
| Tax Withholding | Common Shares of Beneficial Interest | 923 | $12.29 | $11K |
| Grant/Award | Common Shares of Beneficial Interest | 11,111 | $0.00 | -- |
Holdings After Transaction:
Performance-Based Restricted Share Units — 1,949 shares (Direct);
Common Shares of Beneficial Interest — 52,258 shares (Direct)
Footnotes (1)
- This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%. This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%. This performance-based restricted share unit (PSU) award was granted on February 24, 2025 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2025, 2026 and 2027. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%. Represents shares withheld for taxes upon vesting of performance-based restricted stock units. The Reporting Person was granted restricted stock units, which will vest in three equal installments beginning on the first anniversary of the date of grant, are to be settled in an equal number of shares of common stock upon vesting. The reported amount consists of 24,755 restricted share units and 40,695 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.
FAQ
What insider transactions did PMT’s Derek Stark report on February 23, 2026?
Derek Stark reported vesting and exercises of performance-based restricted share units into common shares, along with related tax-withholding share dispositions. These transactions reflect equity compensation events rather than open-market buying or selling, and adjust his reported ownership in PennyMac Mortgage Investment Trust.
What are the key details of the performance-based RSU awards reported by PMT’s Derek Stark?
The performance-based restricted share unit awards vest in three equal installments, subject to performance criteria tied to return on equity and relative total stockholder return. One-third vested on February 23, 2026 for each relevant grant, with the 2025 fiscal year payout calculated at 79.2% of the target.
How were taxes handled on Derek Stark’s PMT equity vesting events?
Taxes were satisfied through share withholding transactions. The Form 4 shows several dispositions coded “F,” where common shares of beneficial interest were delivered at a price of $12.29 per share to cover tax liabilities triggered by the vesting of performance-based restricted stock units.