Taubman Paul J 4

4 · PJT Partners Inc. · Filed Feb 6, 2026

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Updated Feb 6, 2026

PJT CEO Paul Taubman Converts 36,000 Units for $5.76M

What Happened

Paul J. Taubman, Chairman and CEO of PJT Partners, converted/exercised 36,000 partnership units (derivative transaction coded "M") on Feb 5, 2026. The Form 4 lists a price of $159.92 per unit, with a cash settlement totaling $5,757,120. The filing shows the units were "disposed" because the exchange was settled in cash rather than shares.

Key Details

Transaction date: February 5, 2026; Form 4 filed February 6, 2026 (timely).
Price / value: $159.92 per unit; total cash received $5,757,120.
Transaction type: M = exercise/conversion of partnership units (settled in cash per issuer election).
Shares/units shown in holdings: reporting includes 5,424,000 Partnership Units (of which 400,000 remain subject to time‑based vesting through March 1, 2027), per the filing footnote.
Notable footnotes: Issuer's Exchange Agreement allows Partnership Units to be exchanged quarterly for cash or Class A common stock on a one‑for‑one basis; the issuer elected cash for this exchange (see Issuer 8‑K referenced in filing).

Context

This was a conversion/settlement of partnership units for cash (not an open‑market sale of shares). Such cash settlements are company‑determined under the exchange agreement and do not necessarily indicate a purchase or market sentiment. The transaction was disclosed promptly in the Form 4 the business day after the exchange.

Form 4

Period: 2026-02-05

DirectorChairman and CEO

Transactions

Exercise/Conversion
Partnership Units of PJT Partners Holdings LP
[F1][F2][F3][F4]
2026-02-05$159.92/sh−36,000$5,757,120→ 5,424,000 total
→ Class A Common Stock (36,000 underlying)

Footnotes (4)

[F1]In an SEC Form 8-K filed by the Issuer on November 26, 2025, the Issuer previously disclosed that the Reporting Person had submitted an Election to Exchange these 36,000 Partnership Units of PJT Partners Holdings LP ("Partnership Units") and that such exchange would be settled for either cash or Class A Common Stock, as determined by the Issuer's Board of Directors.
[F2]Subject to the terms of the Issuer's Exchange Agreement, on a quarterly basis, 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.
[F3]Effective February 5, 2026, the Reporting Person's Partnership Units were exchanged for cash.
[F4]Includes Partnership Units that were acquired upon the occurrence of specified vesting events or grants and previously reported as Performance LTIP Units of PJT Partners Holdings LP. Of the 5,424,000 Partnership Units reported, 400,000 remain subject to previously disclosed time-based vesting conditions through March 1, 2027.

Signature

/s/ David K.F. Gillis, Attorney-in-Fact|2026-02-06

1 file