Russo Evan L 4
4 · Lazard, Inc. · Filed Feb 26, 2024
Insider Transaction Report
Form 4
Lazard, Inc.LAZ
Russo Evan L
CEO of Asset Management
Transactions
- Award
Performance-based Restricted Participation Units
2024-02-22+168,539→ 168,539 total→ Common Stock (168,539 underlying) - Award
Restricted Participation Units
2024-02-22+198,946→ 198,946 total→ Common Stock (198,946 underlying) - Award
Stock Price Performance-based Restricted Participation Units
2024-02-22+1,000,000→ 1,000,000 total→ Common Stock (1,000,000 underlying)
Footnotes (9)
- [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.