Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Stock-Based Compensation Expense and Related Income Tax Benefits

The following table represents stock-based compensation expense and related income tax benefits for the years ended December 31, 2016, 2015 and 2014, respectively:

	Year Ended December 31,
	2016		2015		2014
Stock-Based Compensation Expense	$	89,010	$	65,342	$	90,396
Income Tax Benefit	$	10,678	$	2,618	$	308

Summary of Unvested Restricted Stock Units

A summary of the status of the Company’s unvested RSUs in PJT Partners Inc. and PJT Partners Holdings LP as of December 31, 2016 and of changes during the period January 1, 2016 through December 31, 2016 is presented below:

	Restricted Stock Units
	PJT Partners Inc.					PJT Partners Holdings LP
				Weighted-					Weighted-
				Average					Average
				Grant Date		Number of			Grant Date
	Number of			Fair Value		Partnership			Fair Value
	Units			(in dollars)		Units			(in dollars)
Balance, December 31, 2015		5,344,573		$	20.98		554,850		$	23.73
Granted		736,135			27.15		—			—
Vested		(82,734	)		17.46		(111,161	)		16.33
Forfeited		(225,182	)		23.65		—			—
Dividends Reinvested on Participating RSUs		3,322			22.08		—			—
Balance, December 31, 2016		5,776,114		$	21.71		443,689		$	25.58

Summary of Status of Company's Unvested Equity-Based Awards

A summary of the status of the Company’s unvested Partnership Units as of December 31, 2016 and of changes during the period January 1, 2016 through December 31, 2016 is presented below:

	Partnership Units
				Weighted-
				Average
	Number of			Grant Date
	Partnership			Fair Value
	Units			(in dollars)
Balance, December 31, 2015		5,315,000		$	21.00
Granted		340,228			26.23
Forfeited		(63,871	)		28.29
Balance, December 31, 2016		5,591,357		$	21.23

Summary of Unvested Units After Expected Forfeitures which are Expected to Vest

The following unvested units, after expected forfeitures, as of December 31, 2016, are expected to vest:

			Weighted-Average
			Service Period
	Units		in Years
Partnership Units		11,074,322		2.3
Restricted Stock Units		5,852,412		1.3
Total Equity-Based Awards		16,926,734		1.9

Service and Market Conditions

Summary of Status of Company's Unvested Equity-Based Awards

A summary of the status of the Company’s unvested equity-based awards in PJT Partners Holdings LP with both a service and market condition as of December 31, 2016 and of changes during the period January 1, 2016 through December 31, 2016 is presented below:

	Equity-Based Awards with Both Service and Market Conditions
				Weighted-
				Average
	Number of			Grant Date
	Partnership			Fair Value
	Units			(in dollars)
Balance, December 31, 2015		6,530,048		$	5.72
Forfeited		(26,584	)		5.72
Balance, December 31, 2016		6,503,464		$	5.72