Peter A. Weinberg - Aug 2, 2023 Form 4 Insider Report for Perella Weinberg Partners (PWP)

Role: Chairman, Director
Signature: /s/ Mark Polemeni, as Attorney-in-Fact
Stock symbol: PWP
Transactions as of: Aug 2, 2023
Transactions value $: $0
Form type: 4
Date filed: 8/4/2023, 09:05 AM
Previous filing: Mar 7, 2023
Next filing: Dec 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PWP	Class A Common Stock	Award	$0	+1.65M	+403.5%	$0.00	2.06M	Aug 2, 2023	Direct	F1, F2

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	PWP	Performance-Based Stock Units	Disposed to Issuer	$0	-1.65M	-50%	$0.00	1.65M	Aug 2, 2023	Class A Common Stock	1.65M		Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On August 2, 2023, in connection with the reporting person's transition from CEO to Chairman, the Compensation Committee of the Board of Directors of the Issuer approved a modification of the award of 3,300,000 performance-based stock units ("PSUs") previously granted to the reporting person on August 31, 2021. The modification is intended to further align the Chairman to long-term shareholder value creation and place less emphasis on prospective annual compensation. As modified, 1,650,000 of these PSUs will vest solely based on the achievement of service-based vesting conditions that are satisfied in three equal installments on the third, fourth and fifth anniversaries of the grant date. The remaining 1,650,000 PSUs are subject to the original vesting conditions as explained in footnote 3 below.
F2	For Section 16 purposes, the modification explained in footnote 1 above may be deemed to be a disposition of 1,650,000 PSUs and an acquisition of 1,650,000 time-based restricted stock units subject to the service-based vesting conditions described above.
F3	Each PSU represents a contingent right to receive one share of Class A common stock. PSUs vest based on the achievement of (i) service-based vesting conditions that are satisfied in two equal installments on the third and fifth anniversaries of the grant date, subject to a 50% holdback after the first vesting date, and (ii) performance-based vesting conditions that are satisfied upon the achievement, as measured on the last calendar day of each month, of closing stock prices equal to $15, $20, $25 and $30 (subject to linear interpolation) for 20 out of any 30 consecutive trading days, in each case prior to the fifth anniversary of the grant date.