FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

KURLAND STANFORD L
2. Issuer Name and Ticker or Trading Symbol

PENNYMAC FINANCIAL SERVICES, INC. [ PFSI ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Executive Chairman
(Last)          (First)          (Middle)

C/O PENNYMAC FINANCIAL SERVICES, INC., 3043 TOWNSGATE ROAD
3. Date of Earliest Transaction (MM/DD/YYYY)

4/19/2018
(Street)

WESTLAKE VILLAGE, CA 91361
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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 Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock   4/19/2018     S    6550   (1) D $21.2956   (2) 39087   D    
Class A Common Stock   4/20/2018     S    8100   (1) D $20.9792   (3) 30987   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Cl A Units of Private Nat'l Mortgage Acceptance Company, LLC   (4)   (4)                    (4)   (4) Class A Common Stock   284348     284348   D    
Cl A Units of Private Nat'l Mortgage Acceptance Company, LLC   (4)   (4)                    (4)   (4) Class A Common Stock   8314990     8314990   I   Kurland Family Investments, LLC   (5)
Nonstatutory Stock Option (Right to Buy)   $21.03                    6/13/2014   6/12/2023   Class A Common Stock   107656   (6)   107656   D    
Nonstatutory Stock Option (Right to Buy)   $17.26                    2/26/2015   2/25/2024   Class A Common Stock   191098   (7)   191098   D    
Nonstatutory Stock Option (Right to Buy)   $17.52                    3/3/2016   3/2/2025   Class A Common Stock   161529   (8)   161529   D    
Nonstatutory Stock Option (Right to Buy)   $11.28                    3/7/2017   3/6/2026   Class A Common Stock   188086   (9)   188086   D    
Nonstatutory Stock Option (Right to Buy)   $18.05                    3/6/2018   3/5/2027   Class A Common Stock   138504   (10)   138504   D    
Nonstatutory Stock Option (Right to Buy)   $24.40                    3/9/2019   3/8/2028   Class A Common Stock   102459   (11)   102459   D    

Explanation of Responses:
(1)  These shares of Class A Common Stock were sold pursuant to a 10b5-1 plan.
(2)  The price reported is the weighted average price of multiple transactions ranging from $21.10 to $21.40. 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.
(3)  The price reported is the weighted average price of multiple transactions ranging from $20.80 to $21.25. 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.
(4)  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 PennyMac Financial Services, Inc. on a one-for-one basis, subject to customary conversion rate adjustments, from and after the closing of PennyMac Financial Services, Inc.'s initial public offering.
(5)  These securities are held by Kurland Family Investments, LLC, of which Mr. Kurland is the sole manager. Mr. Kurland disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
(6)  This nonstatutory stock option to purchase 107,656 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.
(7)  This nonstatutory stock option to purchase 191,098 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.
(8)  This nonstatutory stock option to purchase 161,529 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 continued service through each date.
(9)  This nonstatutory stock option to purchase 188,086 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.
(10)  This nonstatutory stock option to purchase 138,504 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.
(11)  This nonstatutory stock option to purchase 102,459 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.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
KURLAND STANFORD L
C/O PENNYMAC FINANCIAL SERVICES, INC.
3043 TOWNSGATE ROAD
WESTLAKE VILLAGE, CA 91361
X
Executive Chairman

Signatures
/s/ Derek W. Stark, attorney-in-fact for Mr. Kurland 4/20/2018
** 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 4(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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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