Lazard, Inc. 8-K

What Happened

• Lazard, Inc. filed an 8-K announcing that Tracy Farr was appointed Chief Financial Officer effective February 1, 2026. Mr. Farr (age 42) joined Lazard in 2013 and most recently served as a Managing Director in the Capital Structure Advisory group.
• Mary Ann Betsch’s service as CFO ended on the Transition Date; she will transition to a non-executive role as Senior Advisor to the CEO from February 1, 2026 through June 30, 2026 (the “Advisory Period”), with her employment ending on June 30, 2026.
• The filing also discloses that certain deferred incentive awards for employees (not named executive officers) that were scheduled to vest on March 1, 2026 may be accelerated to one or more earlier dates in February 2026.

Key Details

• Mr. Farr’s compensation: base salary increased to $750,000 and eligibility for a discretionary annual bonus determined by the Compensation Committee; offer letter dated January 28, 2026.
• Transition terms for Ms. Betsch: will receive base salary during the Advisory Period, continue benefits, be eligible to vest in outstanding equity awards per their terms, and will be eligible for severance/treatment under her Aug 23, 2023 Retention Agreement upon separation (no pro rata 2026 bonus; full 2025 bonus paid).
• Employment protections/restrictions: Mr. Farr or the Company may terminate employment generally; Mr. Farr must give three months’ written notice if he resigns and is subject to non-compete and non-solicit restrictions while providing services and for three months thereafter.
• The company furnished a press release announcing the appointment (filed Jan 29, 2026).

Why It Matters

• Leadership: The appointment establishes Lazard’s new finance chief and outlines a planned, time-limited transition to maintain continuity in finance and reporting through mid-2026.
• Compensation and governance: Mr. Farr’s pay and restrictive covenants, and the transition/severance treatment for Ms. Betsch, clarify near-term costs and executive continuity. Investors should note the $750,000 base salary and bonus eligibility are now part of the CFO role.
• Share/expense timing: Potential acceleration of employee deferred award vesting in February 2026 could affect share settlement timing and related compensation expense in the quarter.