Follette James 4

What Happened

• James Follette, Chief Digital Officer of PennyMac Financial Services (PFSI), had 554 shares withheld to satisfy tax withholding on restricted stock unit (RSU) vesting. The withholding was reported at $90.33 per share, totaling approximately $50,043.
• This was a tax-withholding event (transaction code F), not an open-market sale or purchase.

Key Details

• Transaction date: 2026-02-24; Filing date: 2026-02-26 (filed two days after the transaction).
• Withheld shares: 554 at $90.33 per share; total value ≈ $50,043.
• Shares owned after transaction: reported beneficial interest includes 3,860 shares of Common Stock plus 8,473 restricted stock units (RSUs) that will convert to an equal number of shares upon vesting (total reported interest = 12,333, including unvested RSUs).
• Footnotes: F1 confirms the 554 shares were withheld for taxes upon RSU vesting. F2 clarifies the reported ownership mix of 8,473 RSUs and 3,860 common shares.
• Transaction code: F (tax withholding). This is routine and not a market sale; filing appears timely.

Context

• Share withholding to cover taxes on vesting RSUs is a common administrative action and does not necessarily indicate a change in insider sentiment about the company. It differs from an open-market sale where cash is received by the insider.