PJT Partners Inc 8-K, filed Jun 3, 2024
PJT Partners Inc. (PJT)
About this 8-K
PJT Partners Inc filed this 8-K on June 3, 2024, reporting on events of May 31, 2024.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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CURRENT REPORT
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Item 8.01. |
Other Events. |
Pursuant to the terms of the Company’s Exchange Agreement, in which holders of Partnership Units are able to present such Units for exchange on a quarterly basis, Chairman & CEO Paul J. Taubman has submitted an Election to Exchange 90,000 Partnership Units. Such exchange will be settled for either cash or Class A Common Stock, as determined by the Company’s Board of Directors prior to the Company’s second quarter earnings results.
If the Board of Directors elects to settle such exchange with cash, the exchange price will be the volume-weighted average price per share of the Class A Common Stock on the second day following the Company’s second quarter earnings release.
Additionally, Mr. Taubman has informed the Company that he intends to elect to exchange up to 90,000 Partnership Units in each of the subsequent five quarterly exchange windows. Were Mr. Taubman to exchange the full 90,000 Partnership Units in each of the successive five periods, such exchanges in aggregate would represent less than 10% of his total economic ownership in the Company.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PJT Partners Inc. |
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By: |
/s/ David A. Travin |
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Name: David A. Travin |
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Title: General Counsel |
Date: May 31, 2024