Form 4: PennyMac Financial Services Executive James Follette Reports Stock Transactions
SEC Form 4 Filing
James Follette, Chief Digital Officer of PennyMac Financial Services, reports the acquisition and disposal of company stock, including shares withheld for taxes and sales under a 10b5-1 plan.
Summary
- On February 27, 2024, James Follette, Chief Digital Officer of PennyMac Financial Services, engaged in transactions involving the company's common stock.
- Follette had shares withheld to cover taxes upon the vesting of restricted stock units.
- Specifically, 551 shares were withheld at a price of $87.06.
- Another 354 shares were withheld at a price of $87.06.
- Follette also sold 2,617 shares of common stock at $86.24 per share under a pre-arranged 10b5-1 trading plan.
- Following these transactions, Follette directly owns 7,257 shares of common stock and 6,265 restricted stock units.
- The restricted stock units will be settled in an equal number of shares of common stock upon vesting.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, ensuring transparency and compliance with securities regulations.
Key Dates
| Date | Description |
|---|---|
| 02/27/2024 | Date of stock transactions (withholding and sale). |
| 02/28/2024 | Date of signature by attorney-in-fact. |
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