[Form 4] PJT Partners Inc. Insider Trading Activity

PJT Partners Inc. Chairman and CEO Paul J. Taubman exercised derivative securities linked to Partnership Units of PJT Partners Holdings LP.

Rhea-AI Filing Summary

PJT Partners Inc. Chairman and CEO Paul J. Taubman exercised derivative securities linked to Partnership Units of PJT Partners Holdings LP. He exchanged 36,000 Partnership Units effective April 30, 2026 under the company’s Exchange Agreement, and this exchange was settled in cash rather than Class A common stock.

These Partnership Units are exchangeable on a quarterly basis for cash or, at PJT’s election, for Class A common stock on a one-for-one basis. After this transaction, Taubman holds 5,388,000 Partnership Units, of which 200,000 remain subject to time-based vesting on March 1, 2027.

Insider Trade Summary

36,000 shares exercised/converted

Exercise 1 txn

Insider Taubman Paul J

Role Chairman and CEO

Type	Security	Shares	Price	Value
Exercise	Partnership Units of PJT Partners Holdings LP	36,000	$151.7125	$5.46M

Holdings After Transaction: Partnership Units of PJT Partners Holdings LP — 5,388,000 contracts (Direct)

Footnotes (4)

1. F1. In an SEC Form 8-K filed by the Issuer on November 26, 2025, the Issuer previously disclosed that the Reporting Person intended to elect to exchange up to 36,000 Partnership Units of PJT Partners Holdings LP ("Partnership Units") in future quarterly exchange windows, including the Issuer's current quarterly exchange window. On February 26, 2026, the Reporting Person submitted an Election to Exchange 36,000 Partnership Units, with such exchange to be settled for either cash or Class A Common Stock, as determined by the Issuer's Board of Directors.
2. F2. Subject to the terms of the Issuer's Exchange Agreement, on a quarterly basis, Partnership Units may be exchanged for cash or, at the election of the Issuer, shares of Class A Common Stock of the Issuer on a one-for-one basis.
3. F3. Effective April 30, 2026, the Reporting Person's Partnership Units were exchanged for cash.
4. F4. Includes Partnership Units that were acquired upon the occurrence of specified vesting events or grants and previously reported as Performance LTIP Units of PJT Partners Holdings LP. Of the 5,388,000 Partnership Units reported, 200,000 remain subject to a previously disclosed time-based vesting condition on March 1, 2027.

Key Figures

Units exchanged: 36,000 Partnership Units Implied price per unit: $151.7125 per unit Units held after transaction: 5,388,000 Partnership Units +1 more

4 metrics

Units exchanged 36,000 Partnership Units Exchanged effective April 30, 2026

Implied price per unit $151.7125 per unit Transaction price per Partnership Unit

Units held after transaction 5,388,000 Partnership Units Total Partnership Units following exchange

Unvested units 200,000 Partnership Units Remain subject to time-based vesting on March 1, 2027

Key Terms

Partnership Units, Exchange Agreement, quarterly exchange window, Performance LTIP Units

4 terms

Partnership Units financial

"Partnership Units of PJT Partners Holdings LP"

Partnership units are ownership shares in a business organized as a partnership; owning a unit is like holding a slice of the company’s profit pie and a claim on its assets. For investors, these units matter because they determine how income, losses and cash distributions are allocated, affect voting or control rights, and often carry different tax and liquidity implications than corporate stock — think of them as a direct stake in the partnership’s performance and payouts.

Exchange Agreement financial

"Subject to the terms of the Issuer's Exchange Agreement, on a quarterly basis"

A written deal in which two parties agree to swap assets, securities or obligations under set terms—think of it as a formal swap or trade contract. For investors it matters because such agreements can change who owns what, alter a company’s capital structure, affect future cash flows or dilute existing shares, and therefore influence value and risk in a straightforward, contract-driven way.

quarterly exchange window financial

"intended to elect to exchange up to 36,000 Partnership Units in future quarterly exchange windows"

Performance LTIP Units financial

"previously reported as Performance LTIP Units of PJT Partners Holdings LP"

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Accepted by SEC EDGAR 05/01/2026 - 05:00 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Taubman Paul J

(Last) (First) (Middle)

280 PARK AVENUE

(Street)

NEW YORK NEW YORK 10017

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PJT Partners Inc. [ PJT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Partnership Units of PJT Partners Holdings LP(1)	(2)	04/30/2026		M			36,000(3)	(2)	(2)	Class A Common Stock	36,000	$151.7125	5,388,000(4)	D

Explanation of Responses:

1. In an SEC Form 8-K filed by the Issuer on November 26, 2025, the Issuer previously disclosed that the Reporting Person intended to elect to exchange up to 36,000 Partnership Units of PJT Partners Holdings LP ("Partnership Units") in future quarterly exchange windows, including the Issuer's current quarterly exchange window. On February 26, 2026, the Reporting Person submitted an Election to Exchange 36,000 Partnership Units, with such exchange to be settled for either cash or Class A Common Stock, as determined by the Issuer's Board of Directors.

2. Subject to the terms of the Issuer's Exchange Agreement, on a quarterly basis, Partnership Units may be exchanged for cash or, at the election of the Issuer, shares of Class A Common Stock of the Issuer on a one-for-one basis.

3. Effective April 30, 2026, the Reporting Person's Partnership Units were exchanged for cash.

4. Includes Partnership Units that were acquired upon the occurrence of specified vesting events or grants and previously reported as Performance LTIP Units of PJT Partners Holdings LP. Of the 5,388,000 Partnership Units reported, 200,000 remain subject to a previously disclosed time-based vesting condition on March 1, 2027.

	David K.F. Gillis, Attorney-in-Fact	05/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)