Kievdi Don Cornwell - Feb 9, 2023 Form 4 Insider Report for PJT Partners Inc. (PJT)

Role
Director
Signature
David K.F. Gillis, Attorney-in-Fact
Stock symbol
PJT
Transactions as of
Feb 9, 2023
Transactions value $
-$4,136,655
Form type
4
Date filed
2/10/2023, 04:35 PM
Previous filing
Jan 23, 2023
Next filing
Mar 3, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PJT Partnership Units of PJT Partners Holdings LP Options Exercise -$4.14M -54.9K -100% $75.35 0 Feb 9, 2023 Class A Common Stock 54.9K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Subject to the terms of the Issuer's Exchange Agreement, on a quarterly basis, Partnership Units of PJT Partners Holdings LP ("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. As previously reported on January 20, 2023, in connection with Mr. Cornwell's transition from a partner of the Issuer to a member of the Issuer's Board of Directors, Mr. Cornwell submitted these Partnership Units for exchange pursuant to the Issuer's Exchange Agreement in late 2022. To satisfy certain timing requirements, the exchange of these Partnership Units was effected on February 9, 2023.
F2 Effective February 9, 2023, the Reporting Person's Partnership Units were exchanged for cash.