Evan L. Russo - Feb 22, 2024 Form 4 Insider Report for Lazard, Inc. (LAZ)

Role
CEO of Asset Management
Signature
/s/ Evan L. Russo by Shari L. Soloway under a P of A
Stock symbol
LAZ
Transactions as of
Feb 22, 2024
Transactions value $
$0
Form type
4
Date filed
2/26/2024, 08:33 PM
Previous filing
Jan 10, 2024
Next filing
Mar 13, 2024

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 Performance-based Restricted Participation Units Award +169K 169K Feb 22, 2024 Common Stock 169K Direct F1, F2, F3
transaction LAZ Restricted Participation Units Award +199K 199K Feb 22, 2024 Common Stock 199K Direct F4, F5
transaction LAZ Stock Price Performance-based Restricted Participation Units Award +1M 1M Feb 22, 2024 Common Stock 1M Direct F6, F7, F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a prior grant of Performance-based Restricted Participation Units ("PRPUs") awarded with respect to compensation for 2020 for which performance conditions have been satisfied. The grant was previously reflected in the Company's proxy statement for the relevant year.
F2 Each PRPU (the performance and other conditions of which have been satisfied) represents an interest in Lazard Group LLC that may be exchanged for one share of Common Stock.
F3 These PRPUs will vest on or around March 11, 2024.
F4 These Restricted Participation Units ("RPUs") will vest on or around March 10, 2026.
F5 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.
F6 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 (200,000 Stock Price PRPUs), August 23, 2028 (400,000 Stock Price PRPUs) and August 23, 2030 (400,000 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.
F7 Each Stock Price PRPU represents an interest in Lazard Group LLC that may be exchanged for one share of Common Stock.
F8 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.
F9 Amount excludes 293,245 shares of Common Stock directly or indirectly owned by the reporting person.