Form 4: PJT Partners CFO Helen Meates Receives Long-Term Incentive Award

Helen Meates, CFO of PJT Partners Inc., was granted 9,652 LTIP Units as a long-term incentive award for the 2024 performance year.

Summary

• On February 10, 2025, Helen Meates, the Chief Financial Officer of PJT Partners Inc., received 9,652 LTIP Units as a long-term incentive award.
• These LTIP Units, representing a long-term incentive for the 2024 performance year, vest ratably over three years, starting March 1, 2027.
• The vesting dates are March 1, 2027, March 1, 2028, and March 1, 2029.
• Upon specific events, these LTIP Units can convert into Partnership Units of PJT Partners Holdings LP on a one-for-one basis.
• These Partnership Units can then be exchanged for cash or Class A Common Stock of PJT Partners Inc. on a one-for-one basis, subject to the Issuer's Exchange Agreement and quarterly exchange options.
• The price of the derivative security is $169.95.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating a positive outlook for the company's management and long-term performance.

Positives

• The grant of LTIP Units aligns the CFO's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and commitment from the CFO over the next several years.

Future Outlook

The LTIP Units are designed to incentivize long-term performance, with vesting occurring over the next several years.

Industry Context

Granting LTIP units to key executives is a common practice in the financial services industry to align management's interests with those of shareholders and incentivize long-term value creation.

Comparison to Industry Standards

• Companies like Evercore, Lazard, and Moelis & Company also utilize long-term incentive plans, including LTIP units or restricted stock units, to compensate their executives.
• The vesting schedules and conversion terms are generally comparable to industry standards, with vesting typically occurring over a three-to-five-year period.

Stakeholder Impact

• Shareholders may view the LTIP grant positively as it aligns management's interests with long-term value creation.
• Employees may see this as a positive sign of the company's commitment to its leadership team.

Key Dates

Keywords

LTIP Units, PJT Partners, Helen Meates, CFO, Incentive Award, Vesting, Partnership Units, Class A Common Stock