Peter R. Orszag - Sep 15, 2025 Form 4 Insider Report for Lazard, Inc. (LAZ)

Role
CEO & Chairman, Director
Signature
/s/ Peter R. Orszag by Shari L. Soloway under a P of A
Stock symbol
LAZ
Transactions as of
Sep 15, 2025
Transactions value $
-$2,839,744
Form type
4
Date filed
9/17/2025, 08:06 PM
Previous filing
Aug 19, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Orszag Peter Richard CEO & Chairman, Director C/O LAZARD, INC., 30 ROCKEFELLER PLAZA, NEW YORK /s/ Peter R. Orszag by Shari L. Soloway under a P of A 2025-09-17 0001837678

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LAZ Common Stock Options Exercise +64.9K +38.14% 235K Sep 15, 2025 Direct F1
transaction LAZ Common Stock Disposed to Issuer -$1.08M -19.5K -8.28% $55.59 216K Sep 15, 2025 Direct F2, F3
transaction LAZ Common Stock Sale -$1.76M -32.5K -15.05% $54.09 183K Sep 16, 2025 Direct F4, F5

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 Stock Units Options Exercise $0 -64.9K -100% $0.00 0 Sep 15, 2025 Common Stock 64.9K Direct F1, F6, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Shares of Common Stock were acquired upon the exchange of a prior grant of Restricted Stock Units ("RSUs") into shares of Common Stock.
F2 Represents shares of Common Stock sold to the Company to cover estimated taxes.
F3 Represents the New York Stock Exchange closing price of Common Stock on the trading day immediately preceding the exchange date of the RSUs referenced in Footnote (6).
F4 This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 13, 2025. Sales of shares pursuant to the plan are intended to cover estimated taxes and other personal expenditures.
F5 The price reported in Column 4 is the weighted average price. The shares were sold in multiple transactions that were executed on September 16, 2025 in trades with average execution prices ranging from $53.76 to $54.53 inclusive. The Reporting Person undertakes to provide the issuer, any security holder of the issuer or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock sold at each separate price within the price ranges set forth in this report.
F6 Represents a prior grant of RSUs awarded for which service and other conditions have been satisfied.
F7 Each RSU represents a contingent right to receive one share of Common Stock.
F8 Amount excludes a prior grant of 1,250,000 Stock Price Performance-based Restricted Participation Units and 306,546 Restricted Participation Units, each of which was reflected in the Company's proxy statement for the relevant year.