ELBAUM MARK 4

What Happened

• Mark Elbaum, Chief Capital Markets Officer of PennyMac Financial Services (PFSI), received equity awards on February 12, 2026. The filing reports an acquisition of 1,366 shares (awarded/restricted stock units) and a derivative award covering 3,470 shares (a nonstatutory stock option). Both were granted with a reported price of $0.00 (awarded, no cash paid).

Key Details

• Transaction date: February 12, 2026; Form 4 filed February 17, 2026.
• Award details:
  • 1,366 shares reported as an award (restricted stock units; $0.00).
  • 3,470-share nonstatutory stock option (reported as a derivative award; $0.00).
• Reported holdings after the transaction (per filing footnote): 1,476 shares of common stock and 4,097 restricted stock units (the RSUs convert to the same number of shares upon vesting).
• Vesting/other footnotes:
  • F1: The RSUs vest in three equal installments beginning on the first anniversary of the grant and will be settled in shares upon vesting.
  • F3: The nonstatutory option vests one-third on each of Feb 12, 2027, 2028 and 2029, subject to continued service.
  • F2: The filing states the reported amount consists of 4,097 RSUs and 1,476 common shares (see above).
• No indication in the filing that cash was exchanged; this was a grant/award, not a purchase or sale.

Context

• RSUs are promises to issue shares when they vest; they do not represent immediately tradable shares until settlement. Nonstatutory options give the holder the right to buy shares later according to the vesting schedule; these were granted, not exercised or sold.
• Grants like these are common compensation for executives and do not by themselves indicate buying or selling sentiment.