Stock-based Compensation

3 Months Ended

Mar. 31, 2023

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 March 31,
	2023		2022
	(in thousands)
Grants:
Units:
Performance-based restricted share units ("RSUs")		307		342
Stock options		221		574
Time-based RSUs		182		331
Grant date fair value:
Performance-based RSUs	$	18,611	$	19,522
Stock options		5,492		12,138
Time-based RSUs		11,041		18,903
Total	$	35,144	$	50,563
Vestings and exercises:
Performance-based RSUs vested		612		643
Stock options exercised		156		44
Time-based RSUs vested		245		244
Stock-based compensation expense	$	11,650	$	9,275