TEMPELSMAN LEON 4

4 · LAZARE KAPLAN INTERNATIONAL INC · Filed Apr 28, 2009

Form 4

Period: 2009-04-27

DirectorVice Chairman of the Board10% OwnerOther

Transactions

Holdings

Common Stock
(indirect: By Trust)
46,166
Stock Option (Right to Buy)
Exercise: $10.56Exp: 2010-04-12→ Common Stock (70,000 underlying)
70,000
Common Stock
97,957
Common Stock
(indirect: By Children)
34,641
Common Stock
(indirect: By Partnership)
1,528,416
Common Stock
(indirect: By Spouse)
2,240
Stock Option (Right to Buy)
Exercise: $9.50Exp: 2013-08-25→ Common Stock (60,000 underlying)
60,000

Footnotes (4)

[F1]The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner fo the securities for purposes of Section 16 or for any other purpose.
[F2]The shares are owned by Leon Tempelsman & Son, a New York limited partnership of which each of Maurice Tempelsman and Leon Tempelsman are sole general partners.
[F4]The reporting person is a trustee of three Grantor Retained Annuity Trusts for the benefit of Maurice Tempelsman, which were formed on April 27, 2009 and each contain 576,803 shares of Common Stock, respectively. All shares contained in the GRAT's were previously held by three other Grantor Retained Annuity Trusts for the benefit of Maurice Tempelsman.
[F5]Consists of Employee Stock Options granted under the Lazare Kaplan Interntaional Inc. Long Term Incentive Plan. 70,000 shares granted April 12, 2005 fully exercisable; 60,000 shares granted August 25, 2008 vesting in three equal installments on May 31, 2009, 2010, and 2011, respectively.

Documents

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