Stock-based Compensation

9 Months Ended

Sep. 30, 2022

Stock-based Compensation

Stock-based Compensation

Note 20—Stock-based Compensation

On May 24, 2022, PFSI’s stockholders approved and adopted the 2022 Equity Incentive Plan and no additional equity awards will be issued from the Company’s 2013 Equity Incentive Plan.

Following is a summary of the stock-based compensation activity:

	Quarter ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
	(in thousands)
Grants:
Units:
Performance-based restricted share units ("RSUs")		—		—		342		310
Stock options		—		—		574		249
Time-based RSUs		—		—		331		171
Grant date fair value:
Performance-based RSUs	$	—	$	—	$	19,522	$	18,237
Stock options		—		—		12,138		5,116
Time-based RSUs		—		—		18,903		10,066
Total	$	—	$	—	$	50,563	$	33,419
Vestings and exercises:
Performance-based RSUs vested		—		—		643		640
Stock options exercised		20		104		83		289
Time-based RSUs vested		—		2		246		309
Stock-based compensation expense	$	6,466	$	8,824	$	30,689	$	28,595