March 12, 2024 · Form 4 insider transaction
Chang William Herbert bought 4,389 shares of PMT at $0.00 per share, a transaction worth N/A. The trade was recorded as option exercise and disclosed on an SEC Form 4, filed 2 days after the transaction.
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 March 12, 2024 and the payout of common shares of beneficial interest pursuant to the PSU award for the 2023 fiscal year was determined based on a return on equity and relative total stockholder return for the period of January 1, 2023 through December 31, 2023 resulting in a payout of 187.5%.