[Form 4] PJT Partners Inc. Insider Trading Activity

Rhea-AI Filing Summary

Cornwell Kievdi Don, a director of PJT Partners Inc. (PJT), was granted 37 restricted stock units (RSUs) on 09/17/2025. Each RSU converts into one share of Class A common stock and includes dividend equivalent rights that vest with the underlying RSUs. The filing reports 47,327 shares beneficially owned by the reporting person after the transaction, held in a direct capacity. The Form 4 was executed on behalf of the reporting person by an attorney-in-fact on 09/19/2025.

Positive

• Director received 37 RSUs which align incentives with shareholders
• Reporting person retains direct beneficial ownership of 47,327 shares, indicating continued alignment with issuer

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine small RSU grant to a director; immaterial to firm valuation.

The 37 RSU award is a modest equity-based grant and represents a standard compensation or dividend-equivalent accrual rather than a significant change in insider holdings. Post-transaction beneficial ownership of 47,327 shares indicates the director maintains a position, but the incremental increase is negligible versus total outstanding shares. No sales or derivative transactions were reported, limiting near-term market impact.

Corporate Governance Expert

TL;DR: Governance-normal disclosure; aligns with typical director equity compensation practices.

The Form 4 discloses a small RSU issuance with dividend equivalents and direct ownership. This follows customary director remuneration and required Section 16 reporting. The use of an attorney-in-fact for signature is standard procedural practice and does not imply governance issues. No material insider trading signal is present.

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

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

1. Name and Address of Reporting Person^*

Cornwell Kievdi Don

(Last) (First) (Middle)

280 PARK AVENUE

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2025

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

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

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

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
Restricted Stock Units	(1)	09/17/2025		A(2)		37		(2)	(2)	Class A Common Stock	37	$0	47,327	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Issuer Class A common stock.

2. Represents dividend equivalent rights in connection with the Issuer's dividend that accrue to the reporting person in restricted stock units that vest at the same time(s) as the underlying restricted stock units.

	/s/ David K.F. Gillis, as Attorney-in-Fact	09/19/2025
	** 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.

FAQ

What transaction did the PJT director report on Form 4?

The director reported the acquisition of 37 restricted stock units (RSUs) on 09/17/2025.

How many shares does Cornwell Kievdi Don beneficially own after the reported transaction?

The filing shows 47,327 shares beneficially owned following the reported transaction.

Do the reported RSUs include dividend equivalents?

Yes. The filing states the RSUs include dividend equivalent rights that vest with the underlying units.

What class of stock are the RSUs tied to?

Each RSU represents a contingent right to receive one share of the issuer's Class A common stock.

Who signed the Form 4 filing?

The Form 4 was signed by David K.F. Gillis, as Attorney-in-Fact, on 09/19/2025.