secwatch.observer — SEC 8-K summary
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Issuer:     PennyMac Mortgage Investment Trust (PMT)
CIK:        0001464423
Form:       8-K/A
Filed at:   2023-03-24T23:59:59+00:00
Accession:  0001564590-23-004329
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1464423/000156459023004329/0001564590-23-004329-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1464423/000156459023004329/pmt-8ka_20230303.htm
  HTML page:      https://secwatch.observer/filing/0001564590-23-004329

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