---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-141218"
form_type: "8-K"
ticker: "PFSI"
cik: "0001745916"
company_name: "PennyMac Financial Services, Inc."
filed_at: "2021-11-18T23:59:59+00:00"
generated_at: "2026-06-28T07:03:58.960586+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-21-141218
- form_type: 8-K
- ticker: PFSI
- cik: 0001745916
- company_name: PennyMac Financial Services, Inc.
- filed_at: 2021-11-18T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1745916/000110465921141218/0001104659-21-141218-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1745916/000110465921141218/tm2133372d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-141218
- JSON: https://secwatch.observer/filing/0001104659-21-141218.json
- Plain text: https://secwatch.observer/filing/0001104659-21-141218.txt

## Key facts
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1745916/000110465921141218/0001104659-21-141218-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.