PennyMac Financial Services CEO David Spector's 2020 pay jumps 22% to $12M
PennyMac Financial Services reports 2020 executive compensation
By ExecPay News
Published: April 14, 2021
PennyMac Financial Services reported fiscal year 2020 executive compensation information on April 14, 2021.
In 2020, five executives at PennyMac Financial Services received on average a compensation package of $6.4M, a 20% decrease compared to previous year.
Average pay of disclosed executives at PennyMac Financial Services
David A. Spector, Chief Executive Officer, received $12M in total, which increased by 22% compared to 2019. 52% of Spector's compensation, or $6.4M, was in bonus. Spector also received $3.2M in option awards, $1M in salary, $1.7M in stock awards, as well as $82K in other compensation.
For fiscal year 2020, the median employee pay was $73,076 at PennyMac Financial Services. Therefore, the ratio of David A. Spector's pay to the median employee pay was 169 to one.
Doug Jones, President and Chief Mortgage Banking Officer, received a compensation package of $7M, which increased by 14% compared to previous year. 57% of the compensation package, or $4M, was in bonus.
Vandad Fartaj, Chief Investment Officer, earned $5.1M in 2020, a 21% increase compared to previous year.
Andrew S. Chang, Chief Operating Officer, received $5.1M in 2020, which increases by 23% compared to 2019.
Jeffrey P. Grogin, Senior Managing Director and Chief Enterprise Operations Officer, earned $2.4M in 2020.
Related executives
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
Jeffrey Grogin
PennyMac Financial Services
Senior Managing Director and Chief Enterprise Operations Officer
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Source: SEC filing on April 14, 2021.