PennyMac COO Andrew Chang to step down Dec 31; company repurchases ~$14M shares from Kurland family

PennyMac Financial Services, Inc.

Andrew S. Chang steps down as Senior MD and COO of PFSI and PMT effective Dec 31, 2021; becomes Special Advisor to Chairman and CEO.
PennyMac repurchased 225,000 shares from Kurland Family Investments for approximately $14 million in a privately negotiated transaction.
Following repurchase, KFI's beneficial ownership reduced to less than 35,000 shares, which KFI intends for a charitable donation.

item 5.02 item 8.01 item 9.01

Executive movements

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Role change

Andrew S. Chang

Senior Managing Director and Chief Operating Officer

PFSI · PennyMac Financial Services, Inc.

Effective: 2021-12-31
Filed: November 18, 2021, 6:59 PM ET

On November 18, 2021, PennyMac Financial Services, Inc. (the “Company”) announced that Andrew S. Chang has decided to step down as the Company’s Senior Managing Director and Chief Operating Officer on December 31, 2021, in order to pursue other interests.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Andrew S. Chang changed role as Senior Managing Director and Chief Operating Officer at PennyMac Financial Services, Inc..

Action: stepped down
Role: Senior Managing Director and Chief Operating Officer

Exact text from the filing

On November 18, 2021, PennyMac Financial Services, Inc. (the “Company”) announced that Andrew S. Chang has decided to step down as the Company’s Senior Managing Director and Chief Operating Officer on December 31, 2021, in order to pursue other interests.

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PennyMac Financial Services, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-21-141218

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