Cornwell Kievdi Don 4

What Happened

• Don Cornwell Kievdi, a director of PJT Partners Inc. (PJT), had restricted stock units (RSUs) convert into a total of 18,865 shares on March 2, 2026 (two conversions of 10,038 and 8,827 shares). The Form 4 shows those shares were also reported as disposed at $0, indicating no cash proceeds were received by the insider in connection with the disposal entries.

Key Details

• Transaction date: 2026-03-02 (reported on Form 4 filed 2026-03-03; filing appears timely).
• Acquired: 10,038 shares and 8,827 shares (total 18,865) upon settlement of RSUs (no per-share price reported for acquisition).
• Disposed: Same amounts (10,038 and 8,827) shown as disposed at $0 (total $0 reported for the disposals).
• Footnotes: F1–F4 indicate these were Class A shares acquired on settlement of previously granted RSUs; RSUs convert one-for-one into common stock and some awards are subject to time-based vesting through March 1, 2027.
• Shares owned after the transactions: not specified in the provided excerpt of the filing.
• Transaction code: M (conversion of a derivative security — here, RSU settlement). The $0 disposal entries are consistent with shares being surrendered for tax withholding rather than an open-market sale.

Context

• This was an RSU settlement/conversion event, not a market sale or open-market purchase. When RSUs settle, companies commonly withhold or accept shares to cover tax obligations; those withheld/surrendered shares are reported as disposals at $0 on Form 4. This activity typically reflects routine compensation settlement rather than a directional trade signal by the insider.