4//SEC Filing
Lazard Ltd 4
Accession 0001311370-17-000012
$LAZCIK 0001311370operating
Filed
Feb 26, 7:00 PM ET
Accepted
Feb 27, 6:08 PM ET
Size
21.0 KB
Accession
0001311370-17-000012
Insider Transaction Report
Form 4
Lazard LtdLAZ
Bucaille Matthieu
Chief Financial Officer
Transactions
- Exercise/Conversion
Restricted Class A Common Stock
2017-02-24+6,082→ 180,570 total - Exercise/Conversion
Restricted Class A Common Stock
2017-02-23+91,465→ 221,657 total - Disposition to Issuer
Restricted Class A Common Stock
2017-02-23$43.04/sh−47,169$2,030,154→ 174,488 total - Exercise/Conversion
Performance-based Restricted Stock Units
2017-02-23−91,465→ 0 total→ Restricted Class A Common Stock (91,465 underlying) - Award
Restricted Stock Units
2017-02-24+7,962→ 7,962 total→ Class A Common Stock (7,962 underlying) - Exercise/Conversion
Restricted Stock Units
2017-02-24−6,082→ 1,880 total→ Restricted Class A Common Stock (6,082 underlying) - Disposition to Issuer
Restricted Class A Common Stock
2017-02-24$42.58/sh−3,136$133,531→ 177,434 total - Award
Performance-based Restricted Stock Units
2017-02-23+91,465→ 91,465 total→ Class A Common Stock (91,465 underlying)
Footnotes (10)
- [F1]The reporting person is eligible for retirement under the Company's RSU Retirement Policy, which is described in the Company's 2016 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 such PRSUs have now become Restricted Stock Units ("RSUs"), which remain subject to all restrictive covenants contained in the underlying award agreements until the original vesting dates set forth therein. As a result of the reporting person's retirement eligibility, the RSUs are 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 that the reporting person is permitted to sell in order to pay the related taxes (in accordance with the applicable award agreements), will remain subject to all restrictive covenants as described above.
- [F10]Of these RSUs, 2,382 will vest on or around March 1, 2017, 1,217 will vest on or around March 1, 2018, 2,483 will vest on or around March 1, 2019 and 1,880 will vest on or around March 2, 2020. As discussed in Footnote (2) above, the reporting person was permitted to sell a portion of the shares of Class A Common Stock underlying these RSUs in order to cover the estimated taxes.
- [F2]Represents shares of Class A Common Stock sold to the Company to cover estimated taxes arising from the settlement of PRSUs or RSUs, as applicable.
- [F3]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 and RSUs referenced in Footnote (2).
- [F4]RSUs granted to the reporting person pursuant to the dividend equivalent reinvestment provisions of underlying PRSU awards have become subject to taxation and have been settled in the form of Restricted Class A Common Stock, which remains subject to all restrictive covenants contained in the underlying award agreements until the original vesting dates set forth therein.
- [F5]Amount excludes 300,311 shares of Class A Common Stock directly or indirectly beneficially owned by the reporting person.
- [F6]Represents prior grants of PRSUs awarded with respect to compensation for 2013, 2014 and 2015 for which performance conditions have been satisfied. The grants were previously reflected in the Company's proxy statements for the relevant years.
- [F7]Each PRSU (the performance conditions of which have been satisfied) represents a contingent right to receive one share of Class A Common Stock.
- [F8]Additional RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of underlying PRSU awards.
- [F9]Each RSU represents a contingent right to receive one share of Class A Common Stock.
Documents
Issuer
Lazard Ltd
CIK 0001311370
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001311370
Filing Metadata
- Form type
- 4
- Filed
- Feb 26, 7:00 PM ET
- Accepted
- Feb 27, 6:08 PM ET
- Size
- 21.0 KB