secwatch.observer — SEC 8-K summary
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Issuer:     PennyMac Financial Services, Inc. (PFSI)
CIK:        0001745916
Form:       8-K/A
Filed at:   2023-03-24T23:59:59+00:00
Accession:  0001104659-23-036669
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PennyMac finalizes separation with ex-CIO Fartaj; $1.525M cash severance plus equity vesting
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- Vandad Fartaj (former Sr. MD & CIO) will receive $1,525,000 cash severance in two installments.
- Fartaj retains vested stock options from 2020/2021 plus partial vesting of 2021-2022 PFSI/PMT equity awards.
- 2023 equity grants forfeited; unvested RSUs/PSUs vest on original schedule without continued service.
- Agreement includes mutual non-disparagement, cooperation, and standard release of claims.
- Fartaj's service ended March 17, 2023; earlier 8-K reported departure as of March 3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1745916/000110465923036669/0001104659-23-036669-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1745916/000110465923036669/tm2310448d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-036669

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer