PJT Partners CEO exchanges 36,000 units for cash

Taubman Paul J reported disposition transactions in this Form 4 filing.

Rhea-AI Filing Summary

Taubman Paul J reported disposition transactions in this Form 4 filing.

PJT Partners Inc. reported that Chairman and CEO Paul J. Taubman exchanged 36,000 Partnership Units of PJT Partners Holdings LP for cash effective July 30, 2026, under its Exchange Agreement, which permits quarterly exchanges for cash or, at the issuer’s election, Class A common stock on a one-for-one basis. Following this transaction, he holds 5,352,000 Partnership Units, of which 200,000 remain subject to time-based vesting conditions through 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 F1, F2, F3, F4	36,000	$166.1748	$5.98M

Holdings After Transaction: Partnership Units of PJT Partners Holdings LP — 5,352,000 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 May 25, 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 July 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 5,352,000 Partnership Units reported, 200,000 remain subject to previously disclosed time-based vesting conditions through March 1, 2027.

Key Figures

Partnership Units exchanged: 36,000 units Exchange price per unit: $166.1748 per unit Partnership Units held after transaction: 5,352,000 units +2 more

5 metrics

Partnership Units exchanged 36,000 units Partnership Units of PJT Partners Holdings LP exchanged for cash effective July 30, 2026

Exchange price per unit $166.1748 per unit Cash value per Partnership Unit in the reported exchange

Partnership Units held after transaction 5,352,000 units Total Partnership Units directly held by Paul J. Taubman after the exchange

Unvested Partnership Units 200,000 units Units remaining subject to time-based vesting conditions through March 1, 2027

Exchange effective date July 30, 2026 Date on which the 36,000 Partnership Units were exchanged for cash

Key Terms

Partnership Units, Exchange Agreement, Performance LTIP Units, time-based vesting conditions, +1 more

5 terms

Partnership Units financial

"Partnership Units of PJT Partners Holdings LP were exchanged for cash"

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.

Performance LTIP Units financial

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

time-based vesting conditions financial

"200,000 remain subject to previously disclosed time-based vesting conditions"

Class A Common Stock financial

"may be exchanged for cash or, at the election of the Issuer, shares of Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did PJT (PJT) disclose in this Form 4?

PJT Partners disclosed that Chairman and CEO Paul J. Taubman exchanged 36,000 Partnership Units of PJT Partners Holdings LP for cash, effective July 30, 2026, under a quarterly Exchange Agreement that allows settlements in cash or Class A common stock.

At what price per unit were Paul J. Taubman’s PJT partnership units exchanged?

The 36,000 Partnership Units were exchanged for cash at a reported price of $166.1748 per unit. This per-unit value comes from the transaction price field associated with the cash-settled exchange described in the disclosure.

How many PJT partnership units does Paul J. Taubman hold after this transaction?

After the exchange, Paul J. Taubman directly holds 5,352,000 Partnership Units of PJT Partners Holdings LP. The filing notes that this figure includes units previously reported as Performance LTIP Units that have since been acquired upon vesting events or grants.

How many of Taubman’s PJT partnership units are still subject to vesting?

Of the 5,352,000 Partnership Units reported as held by Paul J. Taubman, 200,000 units remain subject to time-based vesting conditions through March 1, 2027, meaning those units will fully vest only if the specified time conditions are satisfied.

How does PJT’s Exchange Agreement affect Partnership Units like those held by Taubman?

Under the Issuer’s Exchange Agreement, Partnership Units may be exchanged on a quarterly basis for either cash or, at the Issuer’s election, Class A Common Stock on a one-for-one basis, giving flexibility in how unit holders realize value.

Was this PJT insider exchange part of an earlier disclosed intention?

Yes. A prior SEC report noted Taubman’s intent to exchange up to 36,000 Partnership Units in future quarterly windows, and on May 25, 2026, he submitted an Election to Exchange 36,000 units, which was then cash-settled effective July 30, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/03/2026 - 05:30 PM Accepted by SEC EDGAR 08/03/2026 - 05:30 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
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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)
07/30/2026

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)	07/30/2026		M			36,000(3)	(2)	(2)	Class A Common Stock	36,000	$166.1748	5,352,000(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 May 25, 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 July 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 5,352,000 Partnership Units reported, 200,000 remain subject to previously disclosed time-based vesting conditions through March 1, 2027.

	David K.F. Gillis, Attorney-in-Fact	08/03/2026
	** 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.
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* Form 4: SEC 1474 (03-26)