8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 7, 2023

PennyMac Mortgage Investment Trust

 (Exact name of registrant as specified in its charter)

Maryland	001-34416	27-0186273
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

3043 Townsgate Road, Westlake Village, California	91361
(Address of principal executive offices)	(Zip Code)

(818) 224‑7442

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Shares of Beneficial Interest, $0.01 par value	PMT	New York Stock Exchange
8.125% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, $0.01 par value	PMT/PA	New York Stock Exchange
8.00% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest, $0.01 par value	PMT/PB	New York Stock Exchange
6.75% Series C Cumulative Redeemable Preferred Shares of Beneficial Interest, $0.01 par value	PMT/PC	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d)  Election of Directors.  On March 7, 2023, the Board of Trustees (the “Board”) of PennyMac Mortgage Investment Trust (the “Company”) elected Doug Jones, the Company’s President and Chief Mortgage Banking Officer as a non-independent Class III Trustee.  Mr. Jones will serve as a Class III Trustee until the Company’s next annual meeting of shareholders in 2024 and until his successor is duly elected and qualified or until his earlier death, resignation or removal.  Mr. Jones will not receive any additional compensation for serving on the Board or attending any Board meetings. In addition, there are no other agreements or understandings pursuant to which Mr. Jones was elected as a trustee, and there are no related party transactions between the Company and Mr. Jones.

Item 8.01    Other Events.

On March 10, 2023, the Company also issued a press release announcing the appointment of Mr. Jones as referenced in Item 5.02 above. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01    Financial Statements and Exhibits.

(d)  Exhibits.

Exhibit No.	Description
99.1	Press release dated March 10, 2023, entitled “PennyMac Mortgage Investment Trust Announces Doug Jones Joined Its Board of Trustees.”
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	PENNYMAC MORTGAGE INVESTMENT TRUST
Dated: March 10, 2023	/s/ Daniel S. Perotti
	Daniel S. Perotti Senior Managing Director and Chief Financial Officer

EX-99.1

Exhibit 99.1

PennyMac Mortgage Investment Trust Announces

Doug Jones Joined Its Board of Trustees

Westlake Village, CA,March 10, 2023 – PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that Doug Jones, President and Chief Mortgage Banking Officer, joined its Board of Trustees effective March 7, 2023.

In his role as President of PennyMac Mortgage Investment Trust, Mr. Jones is responsible for the company’s mortgage banking activities, including correspondent loan production and loan servicing. He previously served as Chief Correspondent Lending Officer and has been a member of the company's executive management team since 2011.

“I am delighted to announce Doug Jones’ election to our Board of Trustees,” said PennyMac Mortgage Investment Trust’s Chairman and Chief Executive Officer David Spector. “Doug has a long track record of success in mortgage banking and the contributions he has made since joining our executive management team more than 10 years ago have driven Pennymac to become the largest correspondent lender, supporting nearly 800 independent mortgage companies, community banks and credit unions across the country. On behalf of our Board, I welcome Doug with great enthusiasm.”

Prior to joining PennyMac Mortgage Investment Trust, Mr. Jones worked in several executive positions at both Countrywide Financial Corporation and Bank of America Corporation, as its successor, where he was responsible for correspondent and warehouse lending, the management and oversight of retail sales, and other ancillary mortgage businesses. He earned a B.A. in Economics from California State University, Sacramento.

About PennyMac Mortgage Investment Trust

PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets. PMT is externally managed by PNMAC Capital Management, LLC, a wholly-owned subsidiary of PennyMac Financial Services, Inc. (NYSE: PFSI). Additional information about PennyMac Mortgage Investment Trust is available at pmt.pennymac.com.

Media	Investors
KristynClark	Kevin Chamberlain
kristyn.clark@pennymac.com	IsaacGarden
805.395.9943	investorrelations@pennymac.com
	818.224.7028

XML

Document and Entity Information	Mar. 07, 2023
Document Information [Line Items]
Entity Registrant Name	PennyMac Mortgage Investment Trust
Document Type	8-K
Amendment Flag	false
Entity Central Index Key	0001464423
Document Period End Date	Mar. 07, 2023
Entity Emerging Growth Company	false
Entity File Number	001-34416
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-0186273
Entity Address, Address Line One	3043 Townsgate Road
Entity Address, City or Town	Westlake Village
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91361
City Area Code	818
Local Phone Number	224‑7442
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Common Stock [Member]
Document Information [Line Items]
Security 12b Title	Common Shares of Beneficial Interest, $0.01 par value
Trading Symbol	PMT
Security Exchange Name	NYSE
8.125% Series A Preferred Stock [Member]
Document Information [Line Items]
Security 12b Title	8.125% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, $0.01 par value
Trading Symbol	PMT/PA
Security Exchange Name	NYSE
8.00% Series B Preferred Stock [Member]
Document Information [Line Items]
Security 12b Title	8.00% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest, $0.01 par value
Trading Symbol	PMT/PB
Security Exchange Name	NYSE
6.75% Series C Preferred Stock [Member]
Document Information [Line Items]
Security 12b Title	6.75% Series C Cumulative Redeemable Preferred Shares of Beneficial Interest, $0.01 par value
Trading Symbol	PMT/PC
Security Exchange Name	NYSE