Lee Ji-Yeun 4

What Happened
Lee Ji-Yeun, a Managing Partner at PJT Partners Inc. (PJT), received a long‑term incentive award of 14,613 LTIP Units on February 9, 2026. The grant was reported on a Form 4 filed Feb 11, 2026. The reported acquisition price is $0.00 (derivative award), so no immediate cash value is recorded on the Form 4.

Key Details

• Transaction type: Award/Grant (code A) of 14,613 LTIP Units on 2026-02-09; Form 4 filed 2026-02-11 (timely filing).
• Reported price/value: $0.00 (derivative award reported as $0 on Form 4).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Vesting: LTIP Units generally vest ratably over three years on Mar 1, 2028; Mar 1, 2029; and Mar 1, 2030 (F1).
• Conversion/exchange: LTIP Units can convert one-for-one into Partnership Units upon specified events; Partnership Units may be exchanged quarterly for cash or, at the issuer’s election, for Class A common stock on a one-for-one basis (F1, F2).
• Other notes: The reported LTIP Units pool includes units from prior grants/vests (F3), and some Partnership Units remain subject to previously disclosed time-based vesting conditions (F4).

Context
This is a compensation award (long‑term incentive), not an open‑market purchase or sale. Such awards are common for executives and typically vest over multiple years, so they do not represent immediate liquidity or an immediate change in insider ownership of publicly traded shares. The units are derivatives tied to partnership interests and may convert or be exchanged for cash or stock in the future per the agreement terms.