PennyMac Financial Services, Inc. 2024 Annual Meeting Proxy Statement

Ticker: PFSI · Form: DEF 14A · Filed: 2024-04-19T00:00:00.000Z

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, Annual Meeting, Executive Compensation, Equity Awards

TL;DR

<b>PennyMac Financial Services, Inc. has filed its Definitive Proxy Statement for the 2024 Annual Meeting of Stockholders.</b>

AI Summary

PennyMac Financial Services, Inc. (PFSI) filed a Proxy Statement (DEF 14A) with the SEC on April 19, 2024. PennyMac Financial Services, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 19, 2024. The filing covers the period ending June 5, 2024. The company's principal executive offices are located at 3043 Townsgate Road, Westlake Village, California. The filing includes details on equity awards, dividends paid, and stock/option awards for PEO and Non-PEO members. The company was formerly known as New PennyMac Financial Services, Inc. before a name change on July 9, 2018.

Why It Matters

For investors and stakeholders tracking PennyMac Financial Services, Inc., this filing contains several important signals. This DEF 14A filing provides shareholders with essential information regarding the upcoming Annual Meeting, including details on executive compensation, equity awards, and voting matters. Shareholders can review the compensation structures and equity award details to make informed decisions when voting on proposals at the annual meeting.

Risk Assessment

Risk Level: low — PennyMac Financial Services, Inc. shows low risk based on this filing. The filing is a routine proxy statement (DEF 14A) and does not contain new financial performance data or significant strategic changes, indicating a low level of immediate risk.

Analyst Insight

Review the proxy statement to understand executive compensation, equity awards, and voting proposals for the upcoming Annual Meeting.

Key Numbers

Key Players & Entities

FAQ

When did PennyMac Financial Services, Inc. file this DEF 14A?

PennyMac Financial Services, Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 19, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by PennyMac Financial Services, Inc. (PFSI).

Where can I read the original DEF 14A filing from PennyMac Financial Services, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by PennyMac Financial Services, Inc..

What are the key takeaways from PennyMac Financial Services, Inc.'s DEF 14A?

PennyMac Financial Services, Inc. filed this DEF 14A on April 19, 2024. Key takeaways: PennyMac Financial Services, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 19, 2024.. The filing covers the period ending June 5, 2024.. The company's principal executive offices are located at 3043 Townsgate Road, Westlake Village, California..

Is PennyMac Financial Services, Inc. a risky investment based on this filing?

Based on this DEF 14A, PennyMac Financial Services, Inc. presents a relatively low-risk profile. The filing is a routine proxy statement (DEF 14A) and does not contain new financial performance data or significant strategic changes, indicating a low level of immediate risk.

What should investors do after reading PennyMac Financial Services, Inc.'s DEF 14A?

Review the proxy statement to understand executive compensation, equity awards, and voting proposals for the upcoming Annual Meeting. The overall sentiment from this filing is neutral.

How does PennyMac Financial Services, Inc. compare to its industry peers?

PennyMac Financial Services operates in the mortgage banking and loan correspondent industry.

Are there regulatory concerns for PennyMac Financial Services, Inc.?

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

Industry Context

PennyMac Financial Services operates in the mortgage banking and loan correspondent industry.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

What Investors Should Do

  1. Review the proxy statement for details on the 2024 Annual Meeting of Stockholders.
  2. Examine executive compensation and equity award information presented in the filing.
  3. Understand the voting proposals and cast your vote accordingly.

Key Dates

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard proxy statement and does not represent a change from previous filings in terms of reporting format or frequency.

Filing Stats: 4,390 words · 18 min read · ~15 pages · Grade level 15.8 · Accepted 2024-04-19 16:31:20

Key Financial Figures

Filing Documents

SECURITY OWNERSHIP INFORMATION

SECURITY OWNERSHIP INFORMATION 31

Security Ownership of Executive Officers and Directors

Security Ownership of Executive Officers and Directors 31

Security Ownership of Other Beneficial Owners

Security Ownership of Other Beneficial Owners 32 EXECUTIVE OFFICERS AND COMPENSATION COMMITTEE REPORT 33 Our Executive Officers 33 Compensation Committee Report 35 COMPENSATION DISCUSSION AND ANALYSIS 36 2023 Named Executive Officers 36 Executive Summary of 2023 Compensation 37 Performance-Based Compensation and Incentives 38

Executive Compensation Best Practices

Executive Compensation Best Practices 39 2023 Pay Elements 40 Stakeholder Engagement 41 What We Heard From Stakeholders 42 Compensation Decisions Made in Fiscal 2023 43

Executive Compensation Objectives and Philosophy

Executive Compensation Objectives and Philosophy 49

Executive Compensation Decision Making Process

Executive Compensation Decision Making Process 49 Peer Group and Benchmarking 50 Executive Stock Ownership Guidelines 52 Clawback Provisions 52 Trading Controls and Anti-Pledging and Anti-Hedging Policies 52 Employment and Change-in-Control Arrangements 53 COMPENSATION TABLES 56 CEO PAY RATIO 64 PAY FOR PERFORMANCE 65 PROPOSAL III — ADVISORY (NON-BINDING) VOTE TO APPROVE EXECUTIVE COMPENSATION 68 Supporting Statement 68 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS 69 ANNUAL REPORT ON FORM 10-K 77 OTHER MATTERS 77 INFORMATION CONCERNING VOTING AND SOLICITATION 78 | 2024 Proxy Statement i PROXY STATEMENT SUMMARY Proxy Statement Summary This summary contains highlights about our Board of Directors, or our Board, and the upcoming 2024 Annual Meeting of Stockholders, or the Annual Meeting. References in this Proxy Statement to "we," "us," "our," the "Company," and "PNMAC" refer to PennyMac Financial Services, Inc. and its affiliates, unless the context otherwise requires. This summary does not contain all of the information that you should consider in advance of the Annual Meeting and we encourage you to read the entire Proxy Statement before voting. This Proxy Statement has been made available to our stockholders on the Internet on or about April 19, 2024. 2024 Annual Meeting of Stockholders Date and Time: Wednesday, June 5, 2024, at 11:00 a.m. Pacific Time Location: Online via live webcast at www.virtualshareholdermeeting.com/PFSI2024 Record Date: April 10, 2024 Mail Date: April 19, 2024 Voting Matters and Board Recommendations Matter Our Board Vote Recommendation Proposal I: Election of twelve (12) director nominees identified in the Proxy Statement to serve on our Board, each for a one year term expiring at the 2025 annual meeting of stockholders FOR each Director Nominee Proposal II: Ratification of the appointment of our independent registered public accounting firm f

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