PennyMac Financial Services CEO David Spector's 2021 pay rises 10% to $14M
PennyMac Financial Services reports 2021 executive compensation
By ExecPay News
Published: April 13, 2022
PennyMac Financial Services reported fiscal year 2021 executive compensation information on April 13, 2022.
In 2021, five executives at PennyMac Financial Services received on average a compensation package of $7.1M, a 11% increase compared to previous year.
Average pay of disclosed executives at PennyMac Financial Services
David A. Spector, Chief Executive Officer, received $14M in total, which increased by 10% compared to 2020. 65% of Spector's compensation, or $8.9M, was in non-equity incentive plan. Spector also received $1.1M in option awards, $1M in salary, $2.5M in stock awards, as well as $72K in other compensation.
For fiscal year 2021, the median employee pay was $70,939 at PennyMac Financial Services. Therefore, the ratio of David A. Spector's pay to the median employee pay was 191 to one.
Doug Jones, President and Chief Mortgage Banking Officer, received a compensation package of $7.5M, which increased by 7% compared to previous year. 65% of the compensation package, or $4.9M, was in non-equity incentive plan.
Andrew S. Chang, Chief Operating Officer, earned $5.6M in 2021, a 10% increase compared to previous year.
Vandad Fartaj, Chief Investment Officer, received $5M in 2021, which decreases by 1% compared to 2020.
Daniel S. Perotti, Chief Financial Officer, earned $3.8M in 2021.
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
Daniel Perotti
PennyMac Financial Services
Chief Financial Officer
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Source: SEC filing on April 13, 2022.