Stock-based Compensation

9 Months Ended

Sep. 30, 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 were 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,
	2023		2022		2023		2022
	(in thousands)
Grants:
Units:
Performance-based restricted share units ("RSUs")		—		—		307		342
Stock options		—		—		221		574
Time-based RSUs		—		—		187		331
Grant date fair value:
Performance-based RSUs	$	—	$	—	$	18,611	$	19,522
Stock options		—		—		5,492		12,138
Time-based RSUs		—		—		11,341		18,903
Total	$	—	$	—	$	35,444	$	50,563
Vestings and exercises:
Performance-based RSUs vested		—		—		612		643
Stock options exercised		61		20		412		83
Time-based RSUs vested		—		—		246		246
Stock-based compensation expense	$	8,814	$	6,466	$	20,839	$	30,689