Peter Richard Orszag - 24 Aug 2026 Form 4 Insider Report for Lazard, Inc. (LAZ)

Reporting relationship: CEO & Chairman, Director
Issuer ticker: LAZ
Reported as of: 24 Aug 2026
Net transaction value: -$5,440,038
SEC form: 4
Accepted by SEC: 26 Aug 2026, 20:51:01 UTC
Prior SEC filing: 18 Mar 2026
Source filing: View source filing
Reporting owner signature: /s/ Peter R. Orszag by Shari L. Soloway under a P of A

Key filing fact

Peter Richard Orszag filed Form 4 for Lazard, Inc. (LAZ) on 26 Aug 2026.

Key facts

This page summarizes Peter Richard Orszag's Form 4 filing for Lazard, Inc. (LAZ).
4 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 26 Aug 2026, 20:51.

Change

Previous filing in this sequence was filed on 18 Mar 2026.
Current net transaction value: -$5,440,038.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001837678 Primary reporting owner

Orszag Peter Richard

Relationship: CEO & Chairman, Director
Address: C/O LAZARD, INC., 30 ROCKEFELLER PLAZA, NEW YORK
Signature: /s/ Peter R. Orszag by Shari L. Soloway under a P of A
Signature date: 26 Aug 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

LAZ transaction

Common Stock

Options Exercise

Transaction value
Shares: +250,000
Change %: +119%
Price
Shares after: 460,942
Date: 24 Aug 2026
Ownership: Direct
Footnotes: F1

LAZ transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -75,000
Change %: -16%
Price
Shares after: 385,942
Date: 24 Aug 2026
Ownership: Direct
Footnotes: F2, F3

LAZ transaction

Common Stock

Sale

Transaction value: $5,440,038
Shares: -125,000
Change %: -32%
Price: $43.52
Shares after: 260,942
Date: 25 Aug 2026
Ownership: Direct
Footnotes: F4, F5

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

LAZ transaction Derivative

Stock Price Profits Interest Participation Rights

Options Exercise

Transaction value
Shares: -250,000
Change %: -20%
Price
Shares after: 1,000,000
Date: 24 Aug 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 250,000
Exercise price
Footnotes: F1, F6, F7, F8, F9

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 9 footnotes

Footnote F1

Shares of Common Stock were acquired upon the exchange of the Stock Price Profits Interest Participation Rights ("SP-PIPRs", previously referred to as Stock Price Performance-based Restricted Participation Units) referenced in Footnote (6).

Footnote F2

Represents shares of Common Stock sold to the Company to cover estimated taxes arising from the exchange of SP-PIPRs referenced in Footnote (6).

Footnote F3

Represents the average of the high and low price of Common Stock on the New York Stock Exchange on the date of the exchange of the SP-PIPRs referenced in Footnote (6).

Footnote 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.

Footnote F5

The price reported in Column 4 is the weighted average price. The shares were sold in multiple transactions that were executed on August 25, 2026 in trades with average execution prices ranging from $43.14 to $43.93 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.

Footnote F6

Represents a prior grant of SP-PIPRs awarded in 2023 for which service and other conditions have been satisfied. The grant was previously reflected in the Company's annual report for the relevant year.

Footnote F7

Each SP-PIPR (the service 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.

Footnote F8

Each SP-PIPR represents an interest in Lazard Group LLC that has satisfied its service and other conditions and may be exchanged for one share of Common Stock.

Footnote F9

Of these SP-PIPRs, 500,000 are scheduled to vest on or around August 23, 2028, subject to continued service through that date, and 500,000 are scheduled to vest on or around August 23, 2030, subject to the achievement of a stock price milestone and continued service through that date. These SP-PIPRs were previously reported on the Reporting Person's Form 4 filed on February 26, 2024 as Stock Price Performance-based Restricted Participation Units, which reflected the prior grant of such awards in 2023.