Farr Tracy 4

What Happened Tracy Farr, Chief Financial Officer of Lazard, was granted 295 restricted stock units (RSUs) on February 20, 2026 (transaction code A). The Form 4 reports an acquisition price of $0.00 per RSU; these are derivative awards (RSUs), not open-market purchases or sales. RSUs represent a contingent right to receive one share of Lazard common stock upon vesting.

Key Details

• Transaction date: 2026-02-20 (Form filed 2026-02-23; filing appears timely under Section 16 rules).
• Instrument: 295 RSUs (derivative award), acquisition price $0.00.
• Vesting schedule (per footnotes): 58 RSUs vest on/around March 2, 2026; 155 RSUs vest on/around March 1, 2027; 82 RSUs vest on/around March 1, 2028.
• Footnotes: These RSUs were credited pursuant to dividend-equivalent reinvestment provisions of underlying RSU awards; each RSU equals a contingent right to one share.
• Shares owned after transaction: Not specified in the provided filing.

Context RSUs are a form of equity compensation that convert to shares when they vest; they are not an immediate cash purchase or sale and do not necessarily signal insider buying or selling intent. These additional RSUs reflect dividend-equivalent reinvestment tied to prior RSU awards and will result in shares (and potential tax events) when they vest.