Form 4: PJT Partners Managing Partner Ji-Yeun Lee Exchanges Partnership Units for Cash

Ji-Yeun Lee, a Managing Partner at PJT Partners, exchanged 30,000 Partnership Units for cash and reports beneficial ownership of securities.

Summary

• On May 1, 2025, Ji-Yeun Lee, a Managing Partner at PJT Partners, exchanged 30,000 Partnership Units of PJT Partners Holdings LP for cash.
• The exchange was initiated on February 25, 2025, with the Reporting Person submitting an Election to Exchange.
• The settlement was determined by the Issuer's Board of Directors prior to the Issuer's quarterly earnings results.
• Lee directly owns 708,736 Partnership Units, some of which are subject to vesting conditions through March 1, 2029.
• Lee also indirectly owns 100,000 Class A Common Stock through a family trust.

Sentiment

Score: 6

Explanation: The document is a routine SEC filing detailing an executive's transaction. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of certain Partnership Units.

Industry Context

This filing reflects the standard practice of executives managing their equity holdings in publicly traded companies. The exchange of partnership units for cash or stock is a common mechanism for executives to realize value from their equity compensation.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded financial advisory firms such as Evercore, Lazard, and Moelis & Company.
• These firms often use partnership units or similar equity-based compensation to align executive incentives with shareholder value.
• The vesting schedules and exchange mechanisms are typically outlined in the company's compensation policies and SEC filings.

Key Dates

Keywords

PJT Partners, Partnership Units, Exchange, Form 4, Beneficial Ownership, Managing Partner, Ji-Yeun Lee, Cash, Class A Common Stock