PJT Partners (NYSE: PJT) CEO swaps 36,000 units for cash, keeps 5.35M
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.
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Insights
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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 shares (Direct)
Footnotes (4)
- 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.
- 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.
- F3. Effective July 30, 2026, the Reporting Person's Partnership Units were exchanged for cash.
- 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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
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.