Lazard (LAZ) Director Kathy Elsesser Receives Award

What Happened
Kathy Elsesser, a director of Lazard, Inc., was awarded 3,982 Deferred Stock Units (DSUs) on July 23, 2026. The award was recorded at $0.00 per unit (a compensation grant, not a cash purchase) and is reported as a derivative security. This is a routine non-executive director compensation grant, not an open-market buy or sale.

Key Details

• Transaction date: 2026-07-23; Filing date: 2026-07-27 (timely filing).
• Award: 3,982 Deferred Stock Units (DSUs) @ $0.00 (derivative grant).
• Shares owned after transaction: Not disclosed in this Form 4 filing.
• Footnotes: (F1) DSUs awarded under Lazard’s 2018 Incentive Compensation Plan as part of Non‑Executive Director Compensation. (F2) DSUs convert one-for-one into common stock when the director resigns or otherwise ceases to be a board member.
• Transaction code: A = Award/Grant.

Context
DSUs are deferred compensation that do not convert into common shares (and typically do not provide immediate voting rights or cash) until the director leaves the board; they are commonly used for director pay and do not by themselves indicate the director’s view on the company’s near-term stock prospects.