X0306 4 2020-03-17 0001464423 PennyMac Mortgage Investment Trust PMT 0001275713 SPECTOR DAVID C/O PENNYMAC MORTGAGE INVESTMENT TRUST 3043 TOWNSGATE ROAD WESTLAKE VILLAGE CA 91361 1 1 President and CEO Common Shares of Beneficial Interest 2020-03-17 4 M 0 12072 0 A 170020 D Common Shares of Beneficial Interest 2020-03-17 4 M 0 11667 0 A 181687 D Common Shares of Beneficial Interest 2020-03-17 4 M 0 10018 0 A 191705 D Common Shares of Beneficial Interest 2020-03-17 4 F 0 5986 10.88 D 185719 D Common Shares of Beneficial Interest 2020-03-17 4 F 0 5785 10.88 D 179934 D Common Shares of Beneficial Interest 2020-03-17 4 F 0 4967 10.88 D 174967 D Performance-Based Restricted Share Units 0 2020-03-17 4 A 0 12072 0 A Common Shares of Beneficial Interest 12072 12072 D Performance-Based Restricted Share Units 0 2020-03-17 4 M 0 12072 0 D Common Shares of Beneficial Interest 12072 0 D Performance-Based Restricted Share Units 0 2020-03-17 4 A 0 11667 0 A Common Shares of Beneficial Interest 11667 11667 D Performance-Based Restricted Share Units 0 2020-03-17 4 M 0 11667 0 D Common Shares of Beneficial Interest 11667 0 D Performance-Based Restricted Share Units 0 2020-03-17 4 A 0 10018 0 A Common Shares of Beneficial Interest 10018 10018 D Performance-Based Restricted Share Units 0 2020-03-17 4 M 0 10018 0 D Common Shares of Beneficial Interest 10018 0 D This performance-based restricted share unit (PSU) award was granted to the Reporting Person on February 23, 2017 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2017, 2018 and 2019. The PSU vested as to one-third on March 17, 2020 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2019 fiscal year was determined based on the Issuer's return on equity (ROE) of 12.02% for the period of January 1, 2019 through December 31, 2019 as measured against ROE targets established at the time of grant. The payout percentage for the award based on ROE achievement was 150%. The reported amount consists of 32,877 restricted share units and 137,143 common shares of beneficial interest. The restricted share units are to be settled in an equal number of common shares of beneficial interest upon vesting. This performance-based restricted share unit (PSU) award was granted to the Reporting Person on March 12, 2018 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2018, 2019 and 2020. The PSU vested as to one-third on March 17, 2020 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2019 fiscal year was determined based on the Issuer's return on equity (ROE) of 12.02% for the period of January 1, 2019 through December 31, 2019 as measured against ROE targets established at the time of grant. The payout percentage for the award based on ROE achievement was 150%. The reported amount consists of 32,877 restricted share units and 148,810 common shares of beneficial interest. The restricted share units are to be settled in an equal number of common shares of beneficial interest upon vesting. This performance-based restricted share unit (PSU) award was granted to the Reporting Person on February 12, 2019 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2019, 2020 and 2021. The PSU vested as to one-third on March 17, 2020 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2019 fiscal year was determined based on the Issuer's return on equity (ROE) of 12.02% for the period of January 1, 2019 through December 31, 2019 as measured against ROE targets established at the time of grant. The payout percentage for the award based on ROE achievement was 150%. The reported amount consists of 32,877 restricted share units and 158,828 common shares of beneficial interest. The restricted share units are to be settled in an equal number of common shares of beneficial interest upon vesting. Represents shares withheld for taxes upon vesting of performance-based restricted share units granted on February 23, 2017. The reported amount consists of 32,877 restricted share units and 152,824 common shares of beneficial interest. The restricted share units are to be settled in an equal number of common shares of beneficial interest upon vesting. Represents shares withheld for taxes upon vesting of performance-based restricted share units granted on March 12, 2018. The reported amount consists of 32,877 restricted share units and 147,057 common shares of beneficial interest. The restricted share units are to be settled in an equal number of common shares of beneficial interest upon vesting. Represents shares withheld for taxes upon vesting of performance-based restricted share units granted on February 12, 2019. The reported amount consists of 32,877 restricted share units and 142,090 common shares of beneficial interest. The restricted share units are to be settled in an equal number of common shares of beneficial interest upon vesting. /s/ Kisha Parker, attorney-in-fact for Mr. Spector 2020-03-19