PennyMac Financial Services Chairman Stanford Kurland's 2019 pay jumps 70% to $15M
PennyMac Financial Services reports 2019 executive compensation
By ExecPay News
Published: April 3, 2020
PennyMac Financial Services reported fiscal year 2019 executive compensation information on April 3, 2020.
In 2019, five executives at PennyMac Financial Services received on average a compensation package of $7.9M, a 75% increase compared to previous year.
Average pay of disclosed executives at PennyMac Financial Services
Stanford L. Kurland, Chairman, received $15M in total, which increased by 70% compared to 2018. 68% of Kurland's compensation, or $10M, was in bonus. Kurland also received $930K in option awards, $900K in salary, $3M in stock awards, as well as $62K in other compensation.
For fiscal year 2019, the median employee pay was $67,742 at PennyMac Financial Services. Therefore, the ratio of Stanford L. Kurland's pay to the median employee pay was 222 to one.
David A. Spector, Chief Executive Officer, received a compensation package of $10M, which increased by 75% compared to previous year. 71% of the compensation package, or $7.2M, was in bonus.
Doug Jones, Senior Managing Director and Chief Mortgage Banking Officer, earned $6.2M in 2019, a 86% increase compared to previous year.
Vandad Fartaj, Chief Investment Officer, received $4.2M in 2019, which increases by 68% compared to 2018.
Andrew S. Chang, Chief Financial Officer, earned $4.1M in 2019, a 82% increase compared to previous year.
Related executives
Stanford Kurland
PennyMac Financial Services
Chairman
David Spector
PennyMac Financial Services
Chief Executive Officer
Doug Jones
PennyMac Financial Services
President and Chief Mortgage Banking Officer
Vandad Fartaj
PennyMac Financial Services
Chief Investment Officer
Andrew Chang
PennyMac Financial Services
Chief Operating Officer
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Source: SEC filing on April 3, 2020.