Dominick Ragone - Sep 6, 2022 Form 4 Insider Report for Lazard Ltd (LAZ)

Role
Chief Accounting Officer
Signature
/s/ Dominick Ragone by Scott D. Hoffman under a P of A
Stock symbol
LAZ
Transactions as of
Sep 6, 2022
Transactions value $
-$149,942
Form type
4
Date filed
9/8/2022, 04:35 PM
Previous filing
Aug 23, 2022
Next filing
Nov 22, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LAZ Class A Common Stock Options Exercise +1.02K +6.32% 17.1K Sep 6, 2022 Direct F1
transaction LAZ Restricted Class A Common Stock Options Exercise -3.18K -51.06% 3.05K Sep 6, 2022 Direct F1
transaction LAZ Class A Common Stock Options Exercise +3.18K +18.6% 20.3K Sep 6, 2022 Direct F1
transaction LAZ Class A Common Stock Tax liability -$150K -4.19K -20.69% $35.76 16.1K Sep 6, 2022 Direct F2

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 -1.02K -4.58% 21.1K Sep 6, 2022 Class A Common Stock 1.02K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person has become eligible for retirement under the Company's Deferred Compensation Retirement Policy, which is described in the Company's 2022 Proxy Statement. As a result, certain Restricted Stock Units ("RSUs") and Restricted Class A Common Shares ("RSAs") that were previously granted to the reporting person are no longer subject to the service-based vesting requirements contained in the underlying award agreements. Such RSUs and RSAs have now become subject to taxation and a portion thereof was settled in Class A Common Stock and retained by the Company in order to cover taxes required to be withheld. The RSUs and RSAs, excluding the portion retained by the Company in order to cover taxes required to be withheld, will remain subject to all restrictive covenants and sales restrictions contained in the underlying award agreements until the original vesting dates set forth in the award agreements.
F2 Represents the New York Stock Exchange closing price of Class A Common Stock on September 2, 2022, the trading day immediately preceding the taxation date.
F3 Represents prior grants of RSUs (including RSUs previously acquired pursuant to the dividend reinvestment provisions of underlying RSUs) awarded with respect to compensation for 2019, 2020 and 2021.