William Herbert Chang Form 3 PennyMac Financial Services / William Herbert Chang ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Chang William Herbert

(Last) (First) (Middle)

C/O PENNYMAC FINANCIAL SERVICES, INC.

3043 TOWNSGATE ROAD

(Street)

WESTLAKE VILLAGE CA 91361

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/22/2023

3. Issuer Name and Ticker or Trading Symbol
PennyMac Financial Services, Inc. [ PFSI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Capital Markets Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	41,059(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Nonstatutory Stock Option (Right to Buy)	12/14/2021	12/13/2030	Common Stock	16,207(2)	59.68	D
Nonstatutory Stock Option (Right to Buy)	02/25/2022	02/24/2031	Common Stock	10,348(3)	58.85	D
Nonstatutory Stock Option (Right to Buy)	02/23/2023	02/22/2032	Common Stock	7,618(4)	57.1	D
Nonstatutory Stock Option (Right to Buy)	02/24/2024	02/23/2033	Common Stock	6,688(5)	60.74	D
Nonstatutory Stock Option (Right to Buy)	02/23/2023	02/22/2032	Common Stock	10,440(6)	57.1	D
Nonstatutory Stock Option (Right to Buy)	03/19/2024	03/18/2033	Common Stock	3,854(7)	56.75	D

Explanation of Responses:

1. The reported amount consists of 9,160 restricted stock units and 31,899 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

2. This nonstatutory stock option to purchase 16,207 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each anniversary date, subject to the Reporting Person's committed service through that date.

3. This nonstatutory stock option to purchase 10,348 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each anniversary date, subject to the Reporting Person's committed service through that date.

4. This nonstatutory stock option to purchase 7,618 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each anniversary date, subject to the Reporting Person's committed service through that date.

5. This nonstatutory stock option to purchase 6,688 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each anniversary date, subject to the Reporting Person's committed service through that date.

6. This nonstatutory stock option to purchase 10,440 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each anniversary date, subject to the Reporting Person's committed service through that date.

7. This nonstatutory stock option to purchase 3,854 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each anniversary date, subject to the Reporting Person's committed service through that date.

	/s/ Derek W. Stark, attorney-in-fact for Mr. Chang	03/22/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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