Peter R. Orszag - 22 Feb 2024 Form 4 Insider Report for Lazard, Inc. (LAZ)

Role
Chief Executive Officer, Director
Signature
/s/ Peter R. Orszag by Shari L. Soloway under a P of A
Issuer symbol
LAZ
Transactions as of
22 Feb 2024
Net transactions value
$0
Form type
4
Filing time
26 Feb 2024, 20:28:38 UTC
Previous filing
21 Nov 2023
Next filing
13 Mar 2024
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LAZ Restricted Participation Units Award +77,781 77,781 22 Feb 2024 Common Stock 77,781 Direct F1, F2
transaction LAZ Restricted Participation Units Award +138,340 +178% 216,121 22 Feb 2024 Common Stock 138,340 Direct F2, F3
transaction LAZ Stock Price Performance-based Restricted Participation Units Award +1,250,000 1,250,000 22 Feb 2024 Common Stock 1,250,000 Direct F4, F5, F6
transaction LAZ Restricted Stock Units Award +1,842 +1.3% 143,813 23 Feb 2024 Common Stock 1,842 Direct F7, F8, F9, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These Restricted Participation Units ("RPUs") will vest on or around March 11, 2024.
F2 Each RPU represents an interest in Lazard Group LLC that has satisfied its minimum value condition and that may be exchanged for one share of Common Stock.
F3 These RPUs will vest on or around March 10, 2026.
F4 Represents a prior grant of Stock Price Performance-based Restricted Participation Units ("Stock Price PRPUs") awarded in 2023 for which the minimum value condition has been satisfied and are scheduled to vest on or around August 23, 2026 (250,000 Stock Price PRPUs), August 23, 2028 (500,000 Stock Price PRPUs) and August 23, 2030 (500,000 Stock-Price PRPUs), in each case, subject to achievement of stock price milestones, which have not yet been achieved. The grant was previously reflected in the Company's annual report for the relevant year.
F5 Each Stock Price PRPU represents an interest in Lazard Group LLC that may be exchanged for one share of Common Stock.
F6 These Stock Price PRPUs will vest upon the achievement of certain stock price milestones as described in the Company's annual report for the relevant year.
F7 Additional Restricted Stock Units ("RSUs") were acquired pursuant to the dividend equivalent reinvestment provisions of underlying RSU awards.
F8 Each RSU represents a contingent right to receive one share of Common Stock.
F9 Of these RSUs, 1,060 will vest on or around September 3, 2024 and 782 will vest on or around September 3, 2025.
F10 Amount excludes 73,741 shares of Common Stock directly or indirectly owned by the reporting person.