---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-23-004329"
form_type: "8-K/A"
ticker: "PMT"
cik: "0001464423"
company_name: "PennyMac Mortgage Investment Trust"
filed_at: "2023-03-24T23:59:59+00:00"
generated_at: "2026-06-17T16:28:18.535990+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# PMT enters separation agreement with ex-CIO Fartaj: $1.525M severance, continued equity vesting

## Summary
- Vandad Fartaj ceased as Senior Managing Director and CIO on March 3, 2023; separation agreement signed March 21, 2023.
- Severance payment of $1,525,000 in two installments: $975,000 within 5 days post-revocation, $550,000 on September 15, 2023.
- Certain 2021 and 2022 RSU/PSU awards continue vesting per original schedule without continued service; 2023 awards forfeited.
- Agreement includes non-disparagement clause and release of claims, with no non-compete or non-solicitation restrictions.
- The separation agreement covers both PFSI and PMT entities; Fartaj held officer roles at both.

## SEC filing metadata
- accession: 0001564590-23-004329
- form_type: 8-K/A
- ticker: PMT
- cik: 0001464423
- company_name: PennyMac Mortgage Investment Trust
- filed_at: 2023-03-24T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1464423/000156459023004329/0001564590-23-004329-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1464423/000156459023004329/pmt-8ka_20230303.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-23-004329
- JSON: https://secwatch.observer/filing/0001564590-23-004329.json
- Plain text: https://secwatch.observer/filing/0001564590-23-004329.txt

## Key facts
- Executive change
  Vandad Fartaj departed as Senior Managing Director and Chief Investment Officer at PennyMac Mortgage Investment Trust.
  - Action: ceased serving
  - Role: Senior Managing Director and Chief Investment Officer
  source text: Vandad Fartaj ceased serving as the Company’s Senior Managing Director and Chief Investment Officer on March 3, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1464423/000156459023004329/0001564590-23-004329-index.htm

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