SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Grogin Jeffrey

(Last)

(First)

(Middle)

C/O PENNYMAC FINANCIAL SERVICES, INC.

3043 TOWNSGATE ROAD

(Street)

WESTLAKE VILLAGE

91361

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
PennyMac Financial Services, Inc. [ PFSI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Enterprise Ops Officer

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/01/2020		M		2,317⁽¹⁾	A	$17.26	31,078⁽²⁾	D
Common Stock	05/01/2020		M		2,300⁽¹⁾	A	$21.03	33,378⁽³⁾	D
Common Stock	05/01/2020		S		4,617⁽⁴⁾	D	$29.2441⁽⁵⁾	28,761⁽⁶⁾	D
Common Stock	05/05/2020		M		156⁽¹⁾	A	$17.26	28,917⁽⁷⁾	D
Common Stock	05/05/2020		M		4,453⁽¹⁾	A	$21.03	33,370⁽⁸⁾	D
Common Stock	05/05/2020		S		4,609⁽⁴⁾	D	$29.3546⁽⁹⁾	28,761⁽⁶⁾	D
Common Stock								33,193	I	JBG Children's Trust utd 12/31/2000
Common Stock								22,129	I	MJG Children's Trust utd 12/31/2000
Common Stock								453,655	I	The Grogin Living Trust dtd 12-19-01
Common Stock								9,025	I	Grogin Giving Fund

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Nonstatutory Stock Option (Right to Buy)	$17.26	05/01/2020		M			2,317⁽¹⁾	02/26/2015	02/25/2024	Common Stock	2,317⁽¹⁰⁾	$0	25,899	D
Nonstatutory Stock Option (Right to Buy)	$21.03	05/01/2020		M			2,300⁽¹⁾	06/13/2014	06/12/2023	Common Stock	2,300⁽¹¹⁾	$0	4,453	D
Nonstatutory Stock Option (Right to Buy)	$17.26	05/05/2020		M			156⁽¹⁾	02/26/2015	02/25/2024	Common Stock	156⁽¹⁰⁾	$0	25,743	D
Nonstatutory Stock Option (Right to Buy)	$21.03	05/05/2020		M			4,453⁽¹⁾	06/13/2014	06/12/2023	Common Stock	4,453⁽¹¹⁾	$0	0	D
Nonstatutory Stock Option (Right to Buy)	$24.4							03/09/2019	03/08/2028	Common Stock	17,204⁽¹²⁾		17,204	D
Nonstatutory Stock Option (Right to Buy)	$22.92							03/15/2020	03/14/2029	Common Stock	18,057⁽¹³⁾		18,057	D
Nonstatutory Stock Option (Right to Buy)	$17.52							03/03/2016	03/02/2025	Common Stock	23,829⁽¹⁴⁾		23,829	D
Nonstatutory Stock Option (Right to Buy)	$18.05							03/06/2018	03/05/2027	Common Stock	22,506⁽¹⁵⁾		22,506	D
Nonstatutory Stock Option (Right to Buy)	$35.03							02/26/2021	02/25/2030	Common Stock	17,824⁽¹⁶⁾		17,824	D

Explanation of Responses:

1. The transaction reported was effected pursuant to a 10b5-1 plan.

2. The reported amount consists of 12,286 restricted stock units and 18,792 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

3. The reported amount consists of 12,286 restricted stock units and 21,092 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

4. These shares of Common Stock were sold pursuant to a 10b5-1 plan.

5. The price reported is the weighted average price of multiple transactions ranging from $29.00 to $29.56. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of shares of Common Stock and the prices at which the transactions were effected.

6. The reported amount consists of 12,286 restricted stock units and 16,475 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

7. The reported amount consists of 12,286 restricted stock units and 16,631 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

8. The reported amount consists of 12,286 restricted stock units and 21,084 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

9. The price reported is the weighted average price of multiple transactions ranging from $29.01 to $29.71. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of shares of Common Stock and the prices at which the transactions were effected.

10. This nonstatutory stock option to purchase 28,216 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each of February 26, 2015, 2016 and 2017, subject to the Reporting Person's continued service through each date.

11. This nonstatutory stock option to purchase 15,882 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each of June 13, 2014, 2015 and 2016, subject to the Reporting Person's continued service through each date.

12. This nonstatutory stock option to purchase 17,204 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each March 9, 2019, 2020 and 2021, subject to the Reporting Person's continued service through each date.

13. This nonstatutory stock option to purchase 18,057 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 15, 2020, 2021 and 2022, subject to the Reporting Person's continued service through each date.

14. This nonstatutory stock option to purchase 23,829 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 3, 2016, 2017 and 2018, subject to the Reporting Person's committed service through each date.

15. This nonstatutory stock option to purchase 22,506 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 6, 2018, 2019 and 2020, subject to the Reporting Person's committed service through each date.

16. This nonstatutory stock option to purchase 17,824 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each of February 26, 2021, 2022 and 2023, subject to the Reporting Person's continued service through each date.

	/s/ Derek W. Stark, attorney-in-fact for Mr. Grogin	05/05/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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