Form 4: PJT Partners Director Grace Reksten Skaugen Receives Equity Grant

PJT Partners Inc. Director Grace Reksten Skaugen was granted 833 restricted stock units (RSUs) as part of her compensation, vesting in installments through May 2026.

Summary

• Grace Reksten Skaugen, a Director of PJT Partners Inc. (PJT), was granted 833 Restricted Stock Units (RSUs) on June 2, 2025.
• Each RSU represents a contingent right to receive one share of PJT Partners Class A common stock.
• The RSUs will vest in four substantially equal installments on August 31, 2025, November 30, 2025, February 28, 2026, and May 31, 2026.
• Settlement of the RSUs will occur on the earlier of the termination of the director's services or the fifth anniversary of the grant date (June 2, 2030).
• The Issuer's compensation committee retains the discretion to settle the RSUs in Class A common stock, cash, or a combination thereof.
• Following this transaction, Ms. Skaugen beneficially owns a total of 7,894 derivative securities (RSUs).

Sentiment

Score: 6

Explanation: Slightly positive as it represents routine, aligning compensation for a director, indicating stable corporate governance practices regarding executive and board incentives.

Positives

• The grant of Restricted Stock Units aligns the interests of Director Grace Reksten Skaugen with those of shareholders, as the value of her compensation is tied to the company's stock performance.
• Equity compensation is a standard practice for retaining and incentivizing key personnel, including directors, promoting long-term commitment.

Future Outlook

The Restricted Stock Units are scheduled to vest in four equal installments through May 31, 2026, with settlement occurring upon the earlier of the director's service termination or June 2, 2030.

Industry Context

The grant of Restricted Stock Units to a director is a common practice in the financial services industry and across publicly traded companies to provide long-term incentives and align the interests of board members with shareholders.

Comparison to Industry Standards

• Equity compensation, particularly through Restricted Stock Units, is a widely adopted practice for non-employee directors in the financial advisory and investment banking sectors, including firms like Lazard Ltd. (LAZ), Evercore Inc. (EVR), and Moelis & Company (MC).
• The specific number of units granted would typically be benchmarked against peer group compensation data, considering the director's role, company size, and overall compensation philosophy. Without specific peer compensation data, a direct quantitative comparison is not feasible from this filing alone.

Stakeholder Impact

• Shareholders: The grant of RSUs aligns the director's interests with shareholders, potentially encouraging long-term value creation. However, it also represents a future dilutive event upon settlement, though typically minor for individual director grants.

Next Steps

• Vesting of the 833 Restricted Stock Units in four installments on August 31, 2025, November 30, 2025, February 28, 2026, and May 31, 2026.
• Settlement of the vested Restricted Stock Units on the earlier of the director's service termination or June 2, 2030.

Key Dates

Keywords

PJT Partners, Grace Reksten Skaugen, Form 4, SEC Filing, Restricted Stock Units, RSU, Equity Compensation, Director Compensation, Insider Transaction, PJT