Travin David Adam 4

What Happened

• David Travin, General Counsel of PJT Partners (PJT), had 5,052 restricted stock units (RSUs) convert into 5,052 shares of Class A common stock on March 2, 2026. The Form 4 shows an acquisition of 5,052 shares on conversion (price N/A) and a simultaneous disposition of 5,052 shares at $0.00, resulting in no cash proceeds reported. This pattern is consistent with settlement of RSUs where shares are withheld to satisfy tax withholding or similar obligations.

Key Details

• Transaction date: 2026-03-02; Form filed: 2026-03-03 (timely filing).
• Acquired: 5,052 shares via conversion of RSUs (price listed as N/A).
• Disposed: 5,052 shares at $0.00 (reported as derivative disposition).
• Shares owned after transaction: Not specified in this filing.
• Relevant footnotes:
  • F1: Shares represent Class A common stock acquired upon settlement of a previously granted RSU award.
  • F2: RSUs convert one-for-one into Class A common stock.
  • F3: RSUs were granted as a long-term incentive award.
• No 10b5-1 plan or late-filing indication noted.

Context

• This was not an open-market purchase or sale for cash; it documents RSU settlement. The simultaneous $0.00 disposition typically reflects shares withheld to satisfy tax withholding or similar obligations and does not necessarily indicate a market-sale decision. Such RSU settlements are a routine form of employee compensation and not a direct expression of trading intent.