4//SEC Filing
BHUTANI ASHISH 4
Accession 0001209191-21-014806
CIK 0001311370other
Filed
Feb 25, 7:00 PM ET
Accepted
Feb 26, 5:01 PM ET
Size
18.6 KB
Accession
0001209191-21-014806
Insider Transaction Report
Form 4
Lazard LtdLAZ
BHUTANI ASHISH
Director
Transactions
- Exercise/Conversion
Restricted Class A Common Stock
2021-02-24+116,883→ 145,250 total - Exercise/Conversion
Restricted Class A Common Stock
2021-02-24−62,206→ 83,044 total - Exercise/Conversion
Class A Common Stock
2021-02-24+62,206→ 890,961 total - Tax Payment
Class A Common Stock
2021-02-24$40.67/sh−62,206$2,529,918→ 828,755 total - Award
Performance-based Restricted Stock Units
2021-02-24+116,883→ 116,883 total→ Class A Common Stock (116,883 underlying) - Exercise/Conversion
Performance-based Restricted Stock Units
2021-02-24−116,883→ 0 total→ Restricted Class A Common Stock (116,883 underlying) - Award
Performance-based Restricted Participation Units
2021-02-24+55,280→ 85,889 total→ Class A Common Stock (55,280 underlying)
Footnotes (9)
- [F1]The reporting person is eligible for retirement under the Company's Deferred Compensation Retirement Policy, which is described in the Company's 2020 Proxy Statement. The performance conditions for certain Performance-based Restricted Stock Units ("PRSUs") that were previously granted to the reporting person have been satisfied and, as a result of the reporting person's retirement eligibility, such PRSUs are being treated as subject to taxation and have been settled in the form of Restricted Class A Common Stock. The Restricted Class A Common Stock, excluding the portion required to be withheld in order to pay the related taxes (in accordance with the applicable award agreements), will remain subject to all restrictive covenants and sales restrictions contained in the underlying award agreements until the original vesting dates set forth therein.
- [F2]Represents the portion of Restricted Class A Common Stock that is converted into shares of unrestricted Class A Common Stock and retained by the Company to cover taxes required to be withheld in connection with the settlement of PRSUs.
- [F3]Represents shares of Class A Common Stock retained by the Company to cover taxes required to be withheld in connection with the settlement of PRSUs.
- [F4]Represents the New York Stock Exchange closing price of Class A Common Stock on the trading day immediately preceding the settlement date of the PRSUs referenced in Footnote (1).
- [F5]Represents a prior grant of PRSUs awarded with respect to compensation for 2017 for which performance conditions have been satisfied. The grant was previously reflected in the Company's proxy statement for the relevant year.
- [F6]Each PRSU (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A Common Stock.
- [F7]Represents prior grants of Performance-based Restricted Participation Units ("PRPUs") awarded with respect to compensation for 2018 and 2019 for which performance conditions have been satisfied. The grants were previously reflected in the Company's proxy statements for the relevant years.
- [F8]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 Class A Common Stock.
- [F9]Of these PRPUs, 30,609 will vest on or around March 1, 2022 and 24,671 will vest on or around March 1, 2023.
Documents
Issuer
Lazard Ltd
CIK 0001311370
Entity typeother
Related Parties
1- filerCIK 0001287727
Filing Metadata
- Form type
- 4
- Filed
- Feb 25, 7:00 PM ET
- Accepted
- Feb 26, 5:01 PM ET
- Size
- 18.6 KB