Costos James 4

What Happened

• James Costos, a director of PJT Partners (ticker: PJT), received a grant of 14 restricted stock units (RSUs) on 2026-06-17. The Form 4 reports an acquisition (code A) of 14 units at $0.00 (derivative), i.e., no cash was paid at grant. RSUs are contingent rights to receive shares if/when they vest.

Key Details

• Transaction date: 2026-06-17; Form 4 filed 2026-06-18 (timely, next-business-day filing).
• Reported terms: 14 RSUs @ $0.00 (derivative award). No dollar sale or purchase amount was reported.
• Shares owned after transaction: not specified in the provided filing details.
• Footnotes: F1 — each RSU equals a contingent right to one Class A common share; F2 — dividend equivalent rights accrue as additional RSUs that vest with the underlying award.
• Filing timeliness: appears timely (not marked late).

Context

• RSU grants are a form of equity compensation, not an open-market purchase or sale. They vest per the company’s schedule and convert to shares (and taxable income) only upon vesting. Dividend equivalents increase the RSU count as described in the footnote. Such awards are routine for directors and do not by themselves indicate buy/sell intent.