Helen T. Meates
PJT PartnersAbout Helen T. Meates
Helen T. Meates, age 63, is Chief Financial Officer of PJT Partners and has served in this role since the company’s founding in 2015, leading global finance, reporting/analytics, financial planning, investor relations, and technology while supporting firm growth initiatives . She holds an LLB from Canterbury University (New Zealand) and an MBA from Columbia Business School . Company performance in 2024 included $1.49bn revenues (+29% YoY), GAAP diluted EPS of $4.92 (+58% YoY), adjusted EPS of $5.02 (+54% YoY), and a year-end share price of $157.81; a $100 investment at year-end 2020 was worth $379 by year-end 2024, evidencing strong TSR during her tenure . In 2024, Meates led the deNovo Partners acquisition, finance process reviews, geographic expansion capabilities, and continued development of PJT’s technology infrastructure plan .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Morgan Stanley | Managing Director; Deputy Head of Global Capital Markets; Co-Chair, Capital Commitment Committee | 22 years | Senior leadership in global capital markets; risk/commitment governance; broad transactional execution experience |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| SMA Foundation | Board member | — | Non-profit leadership and community impact |
| Bridgehampton Chamber Music Festival | Board member | — | Arts organization governance |
| Play Rugby (USA) | Board member | — | Youth development and sport engagement |
Fixed Compensation
| Metric ($) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary | $500,000 | $1,000,000 | $1,000,000 |
| Cash Bonus (Paid for prior-year performance) | $1,652,500 | $1,422,500 | $1,847,700 |
| Stock Awards (Grant-date fair value, ASC 718) | $1,608,809 | $1,352,121 | $1,084,315 |
| Other (Perqs incl. financial planning, PJT Giving Program) | $16,595 | $29,620 | $30,510 |
| Total | $3,777,904 | $3,804,241 | $3,962,525 |
Base salaries for NEOs: Meates’s base salary unchanged since Jan 1, 2023 .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout Component | Vesting |
|---|---|---|---|---|---|
| Revenue Growth | Discretionary; no fixed formula | Not specified | $1.49bn; +29% YoY | Cash bonus $1,847,700; LTIP Units $1,640,300 | LTIP Units generally vest after the 2nd, 3rd, and 4th anniversaries from grant |
| Adjusted Pre‑Tax Income | Discretionary; no fixed formula | Not specified | Adjusted pretax margin 18.6% | Included in discretionary determination | As above |
| Adjusted EPS | Discretionary; no fixed formula | Not specified | $5.02 adjusted EPS (+54% YoY) | Included in discretionary determination | As above |
| Share Price Performance | Discretionary; multi‑year lens | Not specified | $157.81 YE 2024; $100→$379 since YE2020 | Included in discretionary determination | As above |
Equity mix: 47% of Meates’s total 2024 annual incentive was delivered in long‑term equity (LTIP Units) . RSUs/LTIPs accelerate on certain terminations or change in control as noted below .
Grants and 2024 Year‑End Vesting Schedule
| Vest Date | Instrument | Units Vesting |
|---|---|---|
| Mar 1, 2025 | RSUs; LTIP Units | 11,915 RSUs; 8,230 LTIP Units |
| Mar 1, 2026 | RSUs; LTIP Units | 9,434 RSUs; 8,229 LTIP Units |
| Mar 1, 2027 | RSUs; LTIP Units | 9,434 RSUs; 8,229 LTIP Units |
| Mar 1, 2028 | RSUs | 3,652 RSUs |
| — | Dividend‑equivalent RSUs (unvested) | 867 |
Awards Granted and Vested
| Category | 2024 Grants (for 2023 performance) | 2024 Vested |
|---|---|---|
| RSUs Granted (2/12/2024) | 10,956 RSUs; grant-date fair value $1,084,315 | — |
| Units/Stock Vested in 2024 | — | 18,883 units vested; value realized $2,099,724 |
Compensation Committee “Alternative” View (Performance‑Year Alignment)
| Metric ($) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | $500,000 | $1,000,000 | $1,000,000 |
| Cash Bonus | $1,652,500 | $1,422,100 | $1,847,700 |
| Long‑Term Incentive (RSUs/LTIP/PLTIP) | $1,347,500 | $1,065,900 | $1,640,300 |
| Total | $3,500,000 | $3,488,000 | $4,488,000 |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Class A Shares Beneficially Owned | 59,839; <1% of Class A |
| Partnership Units Beneficially Owned | 190,798; <1% voting power |
| Combined Voting Power | Less than 1% on director elections and all other matters |
| Unvested Awards at 12/31/2024 | 59,990 units; market value $9,466,973 at $157.81/share |
| 2024 Vest Value Realized | $2,099,724 |
| Stock Ownership Guideline | 5x base salary; requirement value $5,000,000; expected in compliance within guideline timeframes |
| Hedging/Pledging | Hedging prohibited; pledging prohibited unless approved by General Counsel |
Employment Terms
| Term | Meates |
|---|---|
| Agreement | Partner agreement effective Oct 1, 2015 |
| Term/Auto‑Renewal | At‑will; NEOs serve at Board’s discretion without specified term |
| Non‑Compete | 1 year post‑termination; reduced to 120 days if terminated without cause; 90 days if resignation for good reason |
| Non‑Solicit | 2 years post‑termination; reduced to 120/90 days in the scenarios above |
| Garden Leave/Practice | Flexible termination practice with notice and potential garden leave period; no contractual rights to continued employment |
| Severance Economics | No contractual entitlement to severance beyond generally available employee benefits |
| Change‑of‑Control | Upon change in control or death/disability/termination without cause, RSUs/LTIP Units (vested and unvested) become immediately deliverable; PLTIPs vest if performance met; service condition deemed satisfied on qualifying events |
| Accelerated Vesting Value at 12/31/2024 | $9,466,973 if terminated without cause, disability, death, or change in control (at $157.81/share) |
| Clawbacks | NYSE‑compliant clawback policy; Omnibus Plan and Bonus Deferral Plan clawbacks for misconduct, restatements, and related triggers |
Additional Governance and Benchmarking
- Compensation Program: Discretionary performance‑based incentives emphasizing company‑wide financials and individual objectives; significant portion granted as multi‑year vesting equity; no individual revenue pay‑outs .
- Peer Group for Benchmarking: Lazard, Evercore, Houlihan Lokey, Moelis & Company, Perella Weinberg Partners; market‑competitive structure and levels informed by Willis Towers Watson .
- Say‑on‑Pay: 84.6% approval in 2024, indicating shareholder support for pay‑for‑performance alignment .
- CFO Role in Disclosures: Signed Q1 and Q2 2025 results 8‑Ks and participates on earnings calls, evidencing central role in investor communications .
Investment Implications
- Alignment: High equity component (47% of 2024 incentive in LTIP Units) with strict anti‑hedging/limited pledging supports shareholder alignment and reduces misaligned risk taking .
- Retention/Pressure: Multi‑year vesting schedules (tranches 2025–2028) and immediate deliverability on certain terminations/CIC create both retention hooks and potential event‑driven acceleration; absence of guaranteed severance limits involuntary departure costs .
- Performance Linkage: Discretionary design anchored to revenue growth, adjusted pretax income, adjusted EPS, and share price; 2024 performance was strong across all cited metrics, justifying robust cash/equity payouts .
- Ownership/Guidelines: Material beneficial holdings (Class A and Partnership Units), 5x salary ownership requirement, and expected compliance reduce misalignment risk; overall ownership remains <1% of shares outstanding (typical for NEOs at advisory banks) .
- Risk Flags: No evidence of option repricing; strict clawbacks; no contractual severance; hedging prohibited; pledging restricted—collectively low governance risk; ongoing equity acceleration features warrant monitoring around corporate events .
Meates’s 2024 leadership contributions (acquisition execution, finance process enhancements, tech infrastructure) alongside strong firm financials suggest sustained execution capability with balanced incentives and retention structures .