{"url_path":"/sec/pfsi/8-k/2026-06-11/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 Departure of Directors or Certain Officers; Election of","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-11","source_url":"https://www.sec.gov/Archives/edgar/data/1745916/0001104659-26-072973-index.html","accession_number":"0001104659-26-072973","cik":"0001745916","ticker":"PFSI","issuer_name":"PennyMac Financial Services, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1745916/0001104659-26-072973-index.html","primary_entity_key":"0001745916","primary_entity_name":"PennyMac Financial Services, Inc."},"word_count":309,"has_tables":true,"body_markdown":"**Item 5.02 Departure of Directors or Certain Officers; Election of\nDirectors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**\n\n \n\n*Election of Directors*. On\nJune 5, 2026, the Board of Directors (the “Board”) of PennyMac Financial Services, Inc. (the “Company”)\nelected Tiffany To as a member of the Board. Ms. To will serve until the Company’s next annual meeting of stockholders or until\nher successor is duly elected and qualified or until her earlier death, resignation or removal. Ms. To has not been appointed to\nserve on any Board committees.\n\n \n\nIn consideration for her services\nas a director of the Company, Ms. To will be entitled to receive compensation on the same terms and in the same amounts as the other\nindependent directors. Accordingly, Ms. To is expected to receive an annual base retainer of $107,500. In connection with her election\nto the Board, Ms. To will receive a one-time equity grant of restricted stock units with a value of $177,500 under the Company’s\n2022 Equity Incentive Plan (with such amount to be prorated based on days of service on the Board during the annual equity award cycle)\nthat vests in full on the first anniversary of the date of grant.\n\n \n\nIn connection\nwith her election, Ms. To will enter into an indemnification agreement with the Company in the same form of indemnification agreement\nthat the Company has entered into with its other directors. There are no other arrangements or understandings between Ms. To and\nany other persons pursuant to which she was selected as a director. Ms. To is not a party to any transaction required to be disclosed\npursuant to Item 404(a) of Regulation S-K and has no family relationship with any director or executive officer of the Company.\nA copy of the press release announcing the appointment of Ms. To is attached hereto as Exhibit 99.1."}