Michael Gathy - Feb 13, 2024 Form 4 Insider Report for Lazard, Inc. (LAZ)

Signature
/s/ Michael Gathy by Shari L. Soloway under a P of A
Stock symbol
LAZ
Transactions as of
Feb 13, 2024
Transactions value $
-$25,008
Form type
4
Date filed
2/15/2024, 07:47 PM
Previous filing
Feb 12, 2024
Next filing
Feb 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LAZ Common Stock Options Exercise +662 662 Feb 13, 2024 Direct F1
transaction LAZ Common Stock Tax liability -$10.7K -277 -41.84% $38.55 385 Feb 13, 2024 Direct F2, F3
transaction LAZ Common Stock Sale -$14.3K -385 -100% $37.22 0 Feb 14, 2024 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 -662 -11.54% 5.07K Feb 13, 2024 Common Stock 662 Direct F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares of Common Stock were acquired by the Reporting Person upon the vesting of the relevant portion of prior grants of Restricted Stock Units ("RSUs").
F2 Represents shares of Common Stock withheld by the issuer to cover taxes arising from the vesting of RSUs referenced in Footnote (1).
F3 Represents the New York Stock Exchange closing price of Common Stock on the trading day immediately preceding the vesting date of the RSUs referenced in Footnote (1).
F4 In connection with the vesting of RSUs, the issuer permitted its employees to make an election during an open trading window while not in possession of material non-public information for an independent broker to sell shares of Common Stock in multiple transactions on the open market at prevailing market prices from February 14, 2024 through March 1, 2024. The Reporting Person irrevocably committed to sell an aggregate of 385 shares of Common Stock in accordance with the foregoing procedures.
F5 Estimated price per share based on the New York Stock Exchange closing price of Common Stock on February 14, 2024, the first day of execution by the independent broker of the trading procedures described in Footnote (4). The Reporting Person undertakes to amend this report following the final determination of the sale prices of the Common Stock sold in this transaction.
F6 Each RSU represents a contingent right to receive one share of Common Stock.
F7 As previously announced by the issuer in a Current Report on Form 8-K filed on February 1, 2024, the issuer accelerated vesting of certain deferred incentive compensation awards, including the Reporting Person's RSUs reported herein, which were originally scheduled to vest March 1, 2024.