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person · Reporting owner

Jones Doug

Disclosed activity across 3 companies

Tapewire entity
60631
SEC CIK
0001544302

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Reported relationships

Latest disclosed role at each company.

CompanyLast reported asReport datePublished
PNMAC Holdings, Inc.PFSI · Entity 162615Chief Mtge Bnkg OfcrApril 02, 2018April 04, 2018
PennyMac Financial Services, Inc.PFSI · Entity 4100Director · Director, President & CMBOFebruary 28, 2026March 03, 2026
PennyMac Mortgage Investment TrustPMT · Entity 899Director · Director, President & CMBOMarch 12, 2026March 16, 2026

Disclosed balances

About these balances

Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.

PNMAC Holdings, Inc.

Report date April 02, 2018 · Filed April 04, 2018

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Class A Common StockSEC Table I · non-derivativeDirect50,193 Reported balance After 2018-04-02 transaction · row 1 Account or security details depend on footnotes; rows are not merged.
1 source row

Row 1 · 2018-04-02 · Exercise / conversion · Acquired 30,372 · Balance 50,193

F1: This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on March 3, 2015 and vested on April 2, 2018, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Class A Common Stock pursuant to the PSU award was determined based on the Issuer's earnings per share (EPS) of $9.14, return on equity (ROE) of 25% and individual effectiveness of the Reporting Person for the period January 1, 2015 through December 31, 2017, as measured against the target performance goals set by the Compensation Committee at the time of grant. The payout percentages for the PSU award based on target achievement was 120% for EPS and 92.43% for ROE.

F2: The reported amount consists of 19,821 restricted stock units and 30,372 shares of Class A Common Stock. The restricted stock units are to be settled in an equal number of shares of Class A Common Stock upon vesting.

Class A Common StockSEC Table I · non-derivativeDirect40,077 Reported balance After 2018-04-03 transaction · row 2 Account or security details depend on footnotes; rows are not merged.
1 source row

Row 2 · 2018-04-03 · Sale · Disposed 10,116 · Balance 40,077

F3: These shares of Class A Common Stock were sold pursuant to a 10b5-1 plan.

F4: The price reported is the weighted average price of multiple transactions ranging from $22.20 to $22.925. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Class A Common Stock and the prices at which the transactions were effected.

F5: The reported amount consists of 19,821 restricted stock units and 20,256 shares of Class A Common Stock. The restricted stock units are to be settled in an equal number of shares of Class A Common Stock upon vesting.

Class A Common StockSEC Table I · non-derivativeDirect19,821 Reported balance After 2018-04-04 transaction · row 3 Account or security details depend on footnotes; rows are not merged.
1 source row

Row 3 · 2018-04-04 · Sale · Disposed 20,256 · Balance 19,821

F3: These shares of Class A Common Stock were sold pursuant to a 10b5-1 plan.

F6: The price reported is the weighted average price of multiple transactions ranging from $22.85 to $23.575. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Class A Common Stock and the prices at which the transactions were effected.

F7: The reported amount consists of 19,821 restricted stock units. The restricted stock units are to be settled in an equal number of shares of Class A Common Stock upon vesting.

Performance-Based Restricted Stock UnitsSEC Table II · derivative / convertible security · Conversion / exercise price $0.00Direct30,372 Reported balance After 2018-04-02 transaction · row 4 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 4 · 2018-04-02 · Grant · Acquired 30,372 · Balance 30,372

F1: This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on March 3, 2015 and vested on April 2, 2018, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Class A Common Stock pursuant to the PSU award was determined based on the Issuer's earnings per share (EPS) of $9.14, return on equity (ROE) of 25% and individual effectiveness of the Reporting Person for the period January 1, 2015 through December 31, 2017, as measured against the target performance goals set by the Compensation Committee at the time of grant. The payout percentages for the PSU award based on target achievement was 120% for EPS and 92.43% for ROE.

Performance-Based Restricted Stock UnitsSEC Table II · derivative / convertible security · Conversion / exercise price $0.00Direct0 Reported balance After 2018-04-02 transaction · row 5 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 5 · 2018-04-02 · Exercise / conversion · Disposed 30,372 · Balance 0

F1: This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on March 3, 2015 and vested on April 2, 2018, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Class A Common Stock pursuant to the PSU award was determined based on the Issuer's earnings per share (EPS) of $9.14, return on equity (ROE) of 25% and individual effectiveness of the Reporting Person for the period January 1, 2015 through December 31, 2017, as measured against the target performance goals set by the Compensation Committee at the time of grant. The payout percentages for the PSU award based on target achievement was 120% for EPS and 92.43% for ROE.

Cl A Units of Private Nat'l Mortgage Acceptance Company, LLCSEC Table II · derivative / convertible securityIndirectThe Jones Family Trust712,767 Reported balance Holding disclosure · report date 2018-04-02 · row 6 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 6 · Balance 712,767

F8: Pursuant to the terms of an exchange agreement, Class A Units of Private National Mortgage Acceptance Company, LLC are exchangeable for shares of Class A Common Stock of the Issuer on a one-for-one basis, subject to customary conversion rate adjustments.

Nonstatutory Stock Option (Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $21.03 · Expires 2023-06-12Direct15,882 Reported balance Holding disclosure · report date 2018-04-02 · row 7 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 7 · Balance 15,882

F9: This nonstatutory stock option to purchase 15,882 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of June 13, 2014, 2015 and 2016, subject to the Reporting Person's continued service through each date.

Nonstatutory Stock Option (Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $17.26 · Expires 2024-02-25Direct28,216 Reported balance Holding disclosure · report date 2018-04-02 · row 8 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 8 · Balance 28,216

F10: This nonstatutory stock option to purchase 28,216 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of February 26, 2015, 2016 and 2017, subject to the Reporting Person's continued service through each date.

Nonstatutory Stock Option (Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $17.52 · Expires 2025-03-02Direct23,829 Reported balance Holding disclosure · report date 2018-04-02 · row 9 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 9 · Balance 23,829

F11: This nonstatutory stock option to purchase 23,829 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 3, 2016, 2017 and 2018, subject to the Reporting Person's committed service through each date.

Nonstatutory Stock Option (Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $11.28 · Expires 2026-03-06Direct27,771 Reported balance Holding disclosure · report date 2018-04-02 · row 10 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 10 · Balance 27,771

F12: This nonstatutory stock option to purchase 27,771 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 7, 2017, 2018 and 2019, subject to the Reporting Person's committed service through each date.

Nonstatutory Stock Option (Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $18.05 · Expires 2027-03-05Direct34,626 Reported balance Holding disclosure · report date 2018-04-02 · row 11 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 11 · Balance 34,626

F13: This nonstatutory stock option to purchase 34,626 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 6, 2018, 2019 and 2020, subject to the Reporting Person's committed service through each date.

Nonstatutory Stock Option (Right to Buy)SEC Table II · derivative / convertible security · Conversion / exercise price $24.40 · Expires 2028-03-08Direct26,467 Reported balance Holding disclosure · report date 2018-04-02 · row 12 Instrument identity requires review; Table II rows are not merged.
1 source row

Row 12 · Balance 26,467

F14: This nonstatutory stock option to purchase 26,467 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 9, 2019, 2020 and 2021, subject to the Reporting Person's committed service through each date.

Filing footnotes · ownership attribution and instrument terms

F1: This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on March 3, 2015 and vested on April 2, 2018, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Class A Common Stock pursuant to the PSU award was determined based on the Issuer's earnings per share (EPS) of $9.14, return on equity (ROE) of 25% and individual effectiveness of the Reporting Person for the period January 1, 2015 through December 31, 2017, as measured against the target performance goals set by the Compensation Committee at the time of grant. The payout percentages for the PSU award based on target achievement was 120% for EPS and 92.43% for ROE.

F2: The reported amount consists of 19,821 restricted stock units and 30,372 shares of Class A Common Stock. The restricted stock units are to be settled in an equal number of shares of Class A Common Stock upon vesting.

F3: These shares of Class A Common Stock were sold pursuant to a 10b5-1 plan.

F4: The price reported is the weighted average price of multiple transactions ranging from $22.20 to $22.925. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Class A Common Stock and the prices at which the transactions were effected.

F5: The reported amount consists of 19,821 restricted stock units and 20,256 shares of Class A Common Stock. The restricted stock units are to be settled in an equal number of shares of Class A Common Stock upon vesting.

F6: The price reported is the weighted average price of multiple transactions ranging from $22.85 to $23.575. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Class A Common Stock and the prices at which the transactions were effected.

F7: The reported amount consists of 19,821 restricted stock units. The restricted stock units are to be settled in an equal number of shares of Class A Common Stock upon vesting.

F8: Pursuant to the terms of an exchange agreement, Class A Units of Private National Mortgage Acceptance Company, LLC are exchangeable for shares of Class A Common Stock of the Issuer on a one-for-one basis, subject to customary conversion rate adjustments.

F9: This nonstatutory stock option to purchase 15,882 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of June 13, 2014, 2015 and 2016, subject to the Reporting Person's continued service through each date.

F10: This nonstatutory stock option to purchase 28,216 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of February 26, 2015, 2016 and 2017, subject to the Reporting Person's continued service through each date.

F11: This nonstatutory stock option to purchase 23,829 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 3, 2016, 2017 and 2018, subject to the Reporting Person's committed service through each date.

F12: This nonstatutory stock option to purchase 27,771 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 7, 2017, 2018 and 2019, subject to the Reporting Person's committed service through each date.

F13: This nonstatutory stock option to purchase 34,626 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 6, 2018, 2019 and 2020, subject to the Reporting Person's committed service through each date.

F14: This nonstatutory stock option to purchase 26,467 shares of Class A Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 9, 2019, 2020 and 2021, subject to the Reporting Person's committed service through each date.

PennyMac Financial Services, Inc.

Report date February 28, 2026 · Filed March 03, 2026

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeDirect29,088 Reported balance After 2026-02-28 transaction · row 1 Account or security details depend on footnotes; rows are not merged.
1 source row

Row 1 · 2026-02-28 · Tax withholding · Disposed 1,704 · Balance 29,088

F1: Represents shares withheld for taxes upon vesting of restricted stock units.

F2: The reported amount consists of 18,574 restricted stock units and 10,514 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

Common StockSEC Table I · non-derivativeIndirectThe Jones Family Trust15,337 Reported balance Holding disclosure · report date 2026-02-28 · row 2 Holding and transaction disclosures are not merged.
1 source row

Row 2 · Balance 15,337

Common StockSEC Table I · non-derivativeIndirectGR Family Investments LLC410,000 Reported balance Holding disclosure · report date 2026-02-28 · row 3 Holding and transaction disclosures are not merged.
1 source row

Row 3 · Balance 410,000

Filing footnotes · ownership attribution and instrument terms

F1: Represents shares withheld for taxes upon vesting of restricted stock units.

F2: The reported amount consists of 18,574 restricted stock units and 10,514 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

PennyMac Mortgage Investment Trust

Report date March 12, 2026 · Filed March 16, 2026

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common Shares of Beneficial InterestSEC Table I · non-derivativeDirect98,217 Reported balance After 2026-03-12 transaction · row 1 Account or security details depend on footnotes; rows are not merged.
1 source row

Row 1 · 2026-03-12 · Tax withholding · Disposed 2,960 · Balance 98,217

F1: Represents shares withheld for taxes upon vesting of restricted share units.

F2: The reported amount consists of 60,314 restricted share units and 37,903 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.

Filing footnotes · ownership attribution and instrument terms

F1: Represents shares withheld for taxes upon vesting of restricted share units.

F2: The reported amount consists of 60,314 restricted share units and 37,903 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.

Transaction history

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction dateCompanyActivity / securityShares / unitsReported priceReported valueDetails
March 12, 2026 Filed Mar 16, 2026 21:42 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Tax withholdingCommon Shares of Beneficial Interest 2,960 $11.89 $35,194.40
Disclosure

SEC source: 0001464423-26-000066 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 98,217

F1 · shares: Represents shares withheld for taxes upon vesting of restricted share units.

F2 · balance_after: The reported amount consists of 60,314 restricted share units and 37,903 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.

Read SEC document
February 28, 2026 Filed Mar 3, 2026 23:51 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Tax withholdingCommon Shares of Beneficial Interest 2,719 $12.26 $33,334.94
Disclosure

SEC source: 0001464423-26-000058 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 101,177

F1 · shares: Represents shares withheld for taxes upon vesting of restricted share units.

F2 · balance_after: The reported amount consists of 66,581 restricted share units and 34,596 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.

Read SEC document
February 28, 2026 Filed Mar 3, 2026 18:18 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Tax withholdingCommon Stock 1,704 $91.93 $156,648.72
Disclosure

SEC source: 0001745916-26-000098 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 29,088

F1 · shares: Represents shares withheld for taxes upon vesting of restricted stock units.

F2 · balance_after: The reported amount consists of 18,574 restricted stock units and 10,514 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

Read SEC document
February 24, 2026 Filed Feb 27, 2026 01:29 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Tax withholdingCommon Shares of Beneficial Interest 4,017 $12.15 $48,806.55
Disclosure

SEC source: 0001464423-26-000041 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 103,896

F1 · shares: Represents shares withheld for taxes upon vesting of restricted share units.

F2 · balance_after: The reported amount consists of 72,337 restricted share units and 31,559 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.

Read SEC document
February 24, 2026 Filed Feb 26, 2026 20:10 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Tax withholdingCommon Stock 1,597 $90.33 $144,257.01
Disclosure

SEC source: 0001745916-26-000084 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 30,792

F1 · shares: Represents shares withheld for taxes upon vesting of restricted stock units.

F2 · balance_after: The reported amount consists of 22,180 restricted stock units and 8,612 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Exercise / conversionPerformance-Based Restricted Share Units · Derivative 8,228 $0.00 $0.00
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · derivative · entry 13

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares of Beneficial Interest · 8,228 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on February 24, 2025 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2025, 2026 and 2027. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F3 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on February 24, 2025 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2025, 2026 and 2027. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F3 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on February 24, 2025 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2025, 2026 and 2027. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 GrantPerformance-Based Restricted Share Units · Derivative 8,228 $0.00 $0.00
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · derivative · entry 12

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 8,228

Underlying: Common Shares of Beneficial Interest · 8,228 shares

Expires not disclosed

F3 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on February 24, 2025 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2025, 2026 and 2027. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F3 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on February 24, 2025 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2025, 2026 and 2027. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F3 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on February 24, 2025 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2025, 2026 and 2027. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Exercise / conversionPerformance-Based Restricted Share Units · Derivative 6,063 $0.00 $0.00
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · derivative · entry 11

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares of Beneficial Interest · 6,063 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F2 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F2 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 GrantPerformance-Based Restricted Share Units · Derivative 6,063 $0.00 $0.00
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · derivative · entry 10

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,063

Underlying: Common Shares of Beneficial Interest · 6,063 shares

Expires not disclosed

F2 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F2 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F2 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Exercise / conversionPerformance-Based Restricted Share Units · Derivative 5,569 $0.00 $0.00
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · derivative · entry 9

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares of Beneficial Interest · 5,569 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F1 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F1 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 GrantPerformance-Based Restricted Share Units · Derivative 5,569 $0.00 $0.00
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · derivative · entry 8

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,569

Underlying: Common Shares of Beneficial Interest · 5,569 shares

Expires not disclosed

F1 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F1 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

F1 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 GrantCommon Shares of Beneficial Interest 37,037 $0.00 $0.00
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · nonDerivative · entry 7

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 107,913

F5 · shares: The Reporting Person was granted restricted stock units, which will vest in three equal installments beginning on the first anniversary of the date of grant, are to be settled in an equal number of shares of common stock upon vesting.

F6 · balance_after: The reported amount consists of 80,841 restricted share units and 27,072 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Tax withholdingCommon Shares of Beneficial Interest 4,187 $12.29 $51,458.23
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · nonDerivative · entry 6

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 70,876

F4 · shares: Represents shares withheld for taxes upon vesting of performance-based restricted share units.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Tax withholdingCommon Shares of Beneficial Interest 3,085 $23.29 $71,849.65
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · nonDerivative · entry 5

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 75,063

F4 · shares: Represents shares withheld for taxes upon vesting of performance-based restricted share units.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Tax withholdingCommon Shares of Beneficial Interest 2,834 $12.29 $34,829.86
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · nonDerivative · entry 4

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 78,148

F4 · shares: Represents shares withheld for taxes upon vesting of performance-based restricted share units.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Exercise / conversionCommon Shares of Beneficial Interest 8,228 $0.00 $0.00
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · nonDerivative · entry 3

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 80,982

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · shares: This performance-based restricted share unit (PSU) award was granted on February 24, 2025 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2025, 2026 and 2027. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Exercise / conversionCommon Shares of Beneficial Interest 6,063 $0.00 $0.00
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · nonDerivative · entry 2

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 72,754

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · shares: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

Read SEC document
February 23, 2026 Filed Feb 26, 2026 01:00 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Exercise / conversionCommon Shares of Beneficial Interest 5,569 $0.00 $0.00
Disclosure

SEC source: 0001464423-26-000025 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 66,691

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · shares: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 23, 2026 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2025 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2025 through December 31, 2025 resulting in a payout of 79.2%.

Read SEC document
February 20, 2026 Filed Feb 24, 2026 18:42 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Exercise / conversionPerformance-Based Restricted Stock Units · Derivative 7,610 $0.00 $0.00
Disclosure

SEC source: 0001745916-26-000072 · form4.xml · derivative · entry 6

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 7,610 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on February 24, 2023 and vested on February 20, 2026, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Common Stock pursuant to the PSU award was determined based on return on equity and leverage ratio performance for the period of January 1, 2023 through December 31, 2025 resulting in a payout percentage for the award of 37%.

F1 · derivative.exercise_date: This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on February 24, 2023 and vested on February 20, 2026, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Common Stock pursuant to the PSU award was determined based on return on equity and leverage ratio performance for the period of January 1, 2023 through December 31, 2025 resulting in a payout percentage for the award of 37%.

F1 · derivative.expiration_date: This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on February 24, 2023 and vested on February 20, 2026, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Common Stock pursuant to the PSU award was determined based on return on equity and leverage ratio performance for the period of January 1, 2023 through December 31, 2025 resulting in a payout percentage for the award of 37%.

Read SEC document
February 20, 2026 Filed Feb 24, 2026 18:42 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 GrantPerformance-Based Restricted Stock Units · Derivative 7,610 $0.00 $0.00
Disclosure

SEC source: 0001745916-26-000072 · form4.xml · derivative · entry 5

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,610

Underlying: Common Stock · 7,610 shares

Expires not disclosed

F1 · derivative.exercise_price: This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on February 24, 2023 and vested on February 20, 2026, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Common Stock pursuant to the PSU award was determined based on return on equity and leverage ratio performance for the period of January 1, 2023 through December 31, 2025 resulting in a payout percentage for the award of 37%.

F1 · derivative.exercise_date: This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on February 24, 2023 and vested on February 20, 2026, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Common Stock pursuant to the PSU award was determined based on return on equity and leverage ratio performance for the period of January 1, 2023 through December 31, 2025 resulting in a payout percentage for the award of 37%.

F1 · derivative.expiration_date: This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on February 24, 2023 and vested on February 20, 2026, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Common Stock pursuant to the PSU award was determined based on return on equity and leverage ratio performance for the period of January 1, 2023 through December 31, 2025 resulting in a payout percentage for the award of 37%.

Read SEC document
February 20, 2026 Filed Feb 24, 2026 18:42 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Tax withholdingCommon Stock 2,731 $94.33 $257,615.23
Disclosure

SEC source: 0001745916-26-000072 · form4.xml · nonDerivative · entry 2

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 32,389

F2 · shares: Represents shares withheld for taxes upon vesting of performance-based restricted stock units.

F3 · balance_after: The reported amount consists of 25,610 restricted stock units and 6,779 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

Read SEC document
February 20, 2026 Filed Feb 24, 2026 18:42 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Exercise / conversionCommon Stock 7,610 $0.00 $0.00
Disclosure

SEC source: 0001745916-26-000072 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 35,120

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · shares: This performance-based restricted stock unit (PSU) award was granted to the Reporting Person on February 24, 2023 and vested on February 20, 2026, as determined by the Compensation Committee of the Board of Directors. The payout of shares of Common Stock pursuant to the PSU award was determined based on return on equity and leverage ratio performance for the period of January 1, 2023 through December 31, 2025 resulting in a payout percentage for the award of 37%.

Read SEC document
February 14, 2026 Filed Feb 18, 2026 19:42 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Tax withholdingCommon Stock 904 $92.01 $83,177.04
Disclosure

SEC source: 0001745916-26-000050 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 27,510

F1 · shares: Represents shares withheld for taxes upon vesting of restricted stock units.

F2 · balance_after: The reported amount consists of 25,610 restricted stock units and 1,900 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

Read SEC document
February 12, 2026 Filed Feb 17, 2026 18:47 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 GrantNonstatutory Stock Option (Right to Buy) · Derivative 23,771 $0.00 Strike: $91.49 $0.00
Disclosure

SEC source: 0001745916-26-000032 · form4.xml · derivative · entry 4

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 23,771

Underlying: Common Stock · 23,771 shares

Expires 2036-02-11

F3 · derivative.exercise_date: This nonstatutory stock option to purchase 23,771 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each of February 12, 2027, 2028 and 2029 subject to the Reporting Person's continued services through each date.

Read SEC document
February 12, 2026 Filed Feb 17, 2026 18:47 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 GrantCommon Stock 9,358 $0.00 $0.00
Disclosure

SEC source: 0001745916-26-000032 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 28,414

F1 · shares: The Reporting Person was granted restricted stock units, which will vest in three equal installments beginning on the first anniversary of the date of grant, are to be settled in an equal number of shares of Common Stock upon vesting.

F2 · balance_after: The reported amount consists of 28,414 restricted stock units which are to be settled in an equal number of shares of Common Stock upon vesting.

Read SEC document
November 26, 2025 Filed Dec 1, 2025 18:01 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 GiftCommon Stock 20,000 $0.00 $0.00
Disclosure

SEC source: 0001745916-25-000035 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Indirect · GR Family Investments LLC

Disclosed balance after: 410,000

F1 · shares: Represents a bona fide gift of shares to a charitable organization.

Read SEC document
November 25, 2025 Filed Nov 26, 2025 17:17 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 SaleCommon Stock 12,579 $132.82 $1,670,742.78
Disclosure

SEC source: 0001745916-25-000033 · form4.xml · nonDerivative · entry 2

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Indirect · GR Family Investments LLC

Disclosed balance after: 430,000

F2 · price: The price reported is the weighted average price of multiple transactions ranging from $132.605 to $133.11. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

Read SEC document
November 25, 2025 Filed Nov 26, 2025 17:17 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 SaleCommon Stock 7,421 $132.30 $981,798.30
Disclosure

SEC source: 0001745916-25-000033 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Indirect · GR Family Investments LLC

Disclosed balance after: 442,579

F1 · price: The price reported is the weighted average price of multiple transactions ranging from $131.605 to $132.585. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

Read SEC document
November 10, 2025 Filed Nov 12, 2025 17:16 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Exercise / conversionNonstatutory Stock Option (Right to Buy) · Derivative 23,453 $0.00 Strike: $11.28 $0.00
Disclosure

SEC source: 0001745916-25-000027 · form4.xml · derivative · entry 5

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 23,453 shares

Expires 2026-03-06

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.underlying_shares: This nonstatutory stock option to purchase 27,771 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 7, 2017, 2018 and 2019, subject to the Reporting Person's committed service through each date.

Read SEC document
November 10, 2025 Filed Nov 12, 2025 17:16 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 SaleCommon Stock 23,453 $127.56 $2,991,664.68
Disclosure

SEC source: 0001745916-25-000027 · form4.xml · nonDerivative · entry 2

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,056

F2 · price: The price reported is the weighted average price of multiple transactions ranging from $126.535 to $127.51. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

F3 · price: The price reported is the weighted average price of multiple transactions ranging from $127.54 to $128.37. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

F4 · balance_after: The reported amount consists of 19,056 restricted stock units which are to be settled in an equal number of shares of Common Stock upon vesting.

Read SEC document
November 10, 2025 Filed Nov 12, 2025 17:16 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Exercise / conversionCommon Stock 23,453 $11.28 $264,549.84
Disclosure

SEC source: 0001745916-25-000027 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 42,509

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · balance_after: The reported amount consists of 19,056 restricted stock units and 23,453 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

Read SEC document
November 05, 2025 Filed Nov 7, 2025 18:36 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Exercise / conversionNonstatutory Stock Option (Right to Buy) · Derivative 4,318 $0.00 Strike: $11.28 $0.00
Disclosure

SEC source: 0001745916-25-000025 · form4.xml · derivative · entry 5

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 23,453

Underlying: Common Stock · 4,318 shares

Expires 2026-03-06

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.underlying_shares: This nonstatutory stock option to purchase 27,771 shares of Common Stock of the Issuer will vest as to one-third of the optioned shares on each of March 7, 2017, 2018 and 2019, subject to the Reporting Person's committed service through each date.

Read SEC document
November 05, 2025 Filed Nov 7, 2025 18:36 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 SaleCommon Stock 4,318 $126.09 $544,456.62
Disclosure

SEC source: 0001745916-25-000025 · form4.xml · nonDerivative · entry 2

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,056

F2 · price: The price reported is the weighted average price of multiple transactions ranging from $126.00 to $126.45. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

F3 · balance_after: The reported amount consists of 19,056 restricted stock units which are to be settled in an equal number of shares of Common Stock upon vesting.

Read SEC document
November 05, 2025 Filed Nov 7, 2025 18:36 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Exercise / conversionCommon Stock 4,318 $11.28 $48,707.04
Disclosure

SEC source: 0001745916-25-000025 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 23,374

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · balance_after: The reported amount consists of 19,056 restricted stock units and 4,318 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

Read SEC document
March 12, 2025 Filed Mar 13, 2025 22:54 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Tax withholdingCommon Shares of Beneficial Interest 2,960 $14.33 $42,416.80
Disclosure

SEC source: 0001127602-25-009388 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 61,122

F1 · shares: Represents shares withheld for taxes upon vesting of restricted share units.

F2 · balance_after: The reported amount consists of 43,804 restricted share units and 17,318 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.

Read SEC document
March 05, 2025 Filed Mar 7, 2025 22:08 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 SaleCommon Shares of Beneficial Interest 14,530 $14.50 $210,685.00
Disclosure

SEC source: 0001127602-25-008743 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 64,082

F1 · price: The price reported is the weighted average price of multiple transactions ranging from $14.47 to $14.54. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of common shares of beneficial interest and the prices at which the transactions were effected.

F2 · balance_after: The reported amount consists of 50,071 restricted share units and 14,011 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.

Read SEC document
March 05, 2025 Filed Mar 7, 2025 17:10 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 SaleCommon Stock 171 $103.63 $17,720.73
Disclosure

SEC source: 0001127602-25-008752 · form4.xml · nonDerivative · entry 2

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,056

F2 · price: The price reported is the weighted average price of multiple transactions ranging from $103.56 to $103.67. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

F3 · balance_after: The reported amount consists of 19,056 restricted stock units which are to be settled in an equal number of shares of Common Stock upon vesting.

Read SEC document
March 05, 2025 Filed Mar 7, 2025 17:10 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 SaleCommon Stock 8,202 $102.94 $844,313.88
Disclosure

SEC source: 0001127602-25-008752 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 19,227

F1 · price: The price reported is the weighted average price of multiple transactions ranging from $102.52 to $103.47. The reporting person hereby undertakes to provide upon request to the SEC, the Issuer or a security holder of the Issuer the number of Common Stock and the prices at which the transactions were effected.

Read SEC document
February 28, 2025 Filed Mar 4, 2025 23:55 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Tax withholdingCommon Shares of Beneficial Interest 2,719 $14.39 $39,126.41
Disclosure

SEC source: 0001127602-25-008040 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 78,612

F1 · shares: Represents shares withheld for taxes upon vesting of restricted share units.

F2 · balance_after: The reported amount consists of 50,071 restricted share units and 28,541 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.

Read SEC document
February 28, 2025 Filed Mar 4, 2025 19:36 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Tax withholdingCommon Stock 1,703 $102.09 $173,859.27
Disclosure

SEC source: 0001127602-25-008076 · form4.xml · nonDerivative · entry 1

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 27,429

F1 · shares: Represents shares withheld for taxes upon vesting of restricted stock units.

F2 · balance_after: The reported amount consists of 19,056 restricted stock units and 8,373 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

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February 25, 2025 Filed Feb 27, 2025 02:25 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Tax withholdingCommon Shares of Beneficial Interest 2,262 $14.11 $31,916.82
Disclosure

SEC source: 0001127602-25-007037 · form4.xml · nonDerivative · entry 8

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 81,331

F6 · shares: Represents shares withheld for taxes upon vesting of restricted share units.

F7 · balance_after: The reported amount consists of 55,827 restricted share units and 25,504 Common Shares of beneficial interest. The restricted share units are to be settled in an equal number of Common Shares of beneficial interest upon vesting.

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February 24, 2025 Filed Feb 25, 2025 17:57 UTC PennyMac Financial Services, Inc. PFSI · Entity 4100 Tax withholdingCommon Stock 1,169 $101.25 $118,361.25
Disclosure

SEC source: 0001127602-25-006690 · form4.xml · nonDerivative · entry 2

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 29,132

F1 · shares: Represents shares withheld for taxes upon vesting of restricted stock units.

F2 · balance_after: The reported amount consists of 22,661 restricted stock units and 6,471 shares of Common Stock. The restricted stock units are to be settled in an equal number of shares of Common Stock upon vesting.

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February 24, 2025 Filed Feb 27, 2025 02:25 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Exercise / conversionPerformance-Based Restricted Share Units · Derivative 6,135 $0.00 $0.00
Disclosure

SEC source: 0001127602-25-007037 · form4.xml · derivative · entry 14

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares of Beneficial Interest · 6,135 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

F4 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

F4 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

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February 24, 2025 Filed Feb 27, 2025 02:25 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 GrantPerformance-Based Restricted Share Units · Derivative 6,135 $0.00 $0.00
Disclosure

SEC source: 0001127602-25-007037 · form4.xml · derivative · entry 13

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,135

Underlying: Common Shares of Beneficial Interest · 6,135 shares

Expires not disclosed

F4 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

F4 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

F4 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on March 12, 2024 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2024, 2025 and 2026. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

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February 24, 2025 Filed Feb 27, 2025 02:25 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Exercise / conversionPerformance-Based Restricted Share Units · Derivative 5,634 $0.00 $0.00
Disclosure

SEC source: 0001127602-25-007037 · form4.xml · derivative · entry 12

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares of Beneficial Interest · 5,634 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

F3 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

F3 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

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February 24, 2025 Filed Feb 27, 2025 02:25 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 GrantPerformance-Based Restricted Share Units · Derivative 5,634 $0.00 $0.00
Disclosure

SEC source: 0001127602-25-007037 · form4.xml · derivative · entry 11

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,634

Underlying: Common Shares of Beneficial Interest · 5,634 shares

Expires not disclosed

F3 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

F3 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

F3 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on February 28, 2023 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2023, 2024 and 2025. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 80.1%.

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February 24, 2025 Filed Feb 27, 2025 02:25 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Exercise / conversionPerformance-Based Restricted Share Units · Derivative 6,450 $0.00 $0.00
Disclosure

SEC source: 0001127602-25-007037 · form4.xml · derivative · entry 10

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares of Beneficial Interest · 6,450 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on February 25, 2022 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2022, 2023 and 2024. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 110.2%.

F2 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on February 25, 2022 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2022, 2023 and 2024. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 110.2%.

F2 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on February 25, 2022 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2022, 2023 and 2024. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 110.2%.

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February 24, 2025 Filed Feb 27, 2025 02:25 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 GrantPerformance-Based Restricted Share Units · Derivative 6,450 $0.00 $0.00
Disclosure

SEC source: 0001127602-25-007037 · form4.xml · derivative · entry 9

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 6,450

Underlying: Common Shares of Beneficial Interest · 6,450 shares

Expires not disclosed

F2 · derivative.exercise_price: This performance-based restricted share unit (PSU) award was granted on February 25, 2022 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2022, 2023 and 2024. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 110.2%.

F2 · derivative.exercise_date: This performance-based restricted share unit (PSU) award was granted on February 25, 2022 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2022, 2023 and 2024. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 110.2%.

F2 · derivative.expiration_date: This performance-based restricted share unit (PSU) award was granted on February 25, 2022 and may vest in three equal installments subject to the satisfaction of certain performance based criteria for each of the fiscal years ending 2022, 2023 and 2024. The PSU vested as to one-third on February 24, 2025 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2024 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2024 through December 31, 2024 resulting in a payout of 110.2%.

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February 24, 2025 Filed Feb 27, 2025 02:25 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Tax withholdingCommon Shares of Beneficial Interest 3,116 $14.07 $43,842.12
Disclosure

SEC source: 0001127602-25-007037 · form4.xml · nonDerivative · entry 7

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 83,593

F5 · shares: Represents shares withheld for taxes upon vesting of performance-based restricted share units.

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February 24, 2025 Filed Feb 27, 2025 02:25 UTC PennyMac Mortgage Investment Trust PMT · Entity 899 Tax withholdingCommon Shares of Beneficial Interest 2,861 $14.07 $40,254.27
Disclosure

SEC source: 0001127602-25-007037 · form4.xml · nonDerivative · entry 6

Jones Doug · CIK 0001544302 · Director · Director, President & CMBO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 86,709

F5 · shares: Represents shares withheld for taxes upon vesting of performance-based restricted share units.

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Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.