Form 4 for LAZ Lazard, Inc.
Accepted 2024-03-13 00:00:00 ET · period of report 2024-03-11 · accession 0001209191-24-004816 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2024-03-13 | 2024-03-13 | LAZ | Russo Evan L | CEO of Asset Management | S - Sale+OE | $39.35 | -75.0K | 227.4K | -25% | -$2.95M |
| D | 2024-03-13 | 2024-03-11 | LAZ | Russo Evan L | CEO of Asset Management | D - Sale to Iss | $39.20 | -75.0K | 302.4K | -20% | -$2.94M |
| D | 2024-03-13 | 2024-03-11 | LAZ | Russo Evan L | CEO of Asset Management | M - OptEx | — | +168.5K | 377.4K | +81% | — |
| D | 2024-03-13 | 2024-03-11 | LAZ | Russo Evan L | CEO of Asset Management | M - OptEx | — | -168.5K | 0 | -100% | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2024-03-13 | S | D | 75,000 | $39.35 | 227,448 | D | — | — | (F5) The price reported in Column 4 is the weighted average price. The shares were sold in multiple transactions that were executed on March 13, 2024 in trades with average execution prices ranging from $39.25 to $39.50, inclusive. The Reporting Person undertakes to provide the issuer, any security holder of the issuer or the staff of the U.S. Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock sold at each separate price within the price range set forth in this report. (F2) Amount excludes 84,336 shares of Common Stock indirectly beneficially owned by the reporting person by trust and 198,946 restricted participation units directly or indirectly beneficially owned by the reporting person. |
| 2 | Common | Common Stock | 2024-03-11 | D | D | 75,000 | $39.20 | 302,448 | D | — | — | (F3) Represents shares of Common Stock sold to the Company to cover estimated taxes arising from the exchange of the PRPUs referenced in Footnote (1). (F4) Represents the average of the high and low price of Common Stock on the New York Stock Exchange on the date of the exchange of the PRPUs referenced in Footnote (1). (F2) Amount excludes 84,336 shares of Common Stock indirectly beneficially owned by the reporting person by trust and 198,946 restricted participation units directly or indirectly beneficially owned by the reporting person. |
| 3 | Common | Common Stock | 2024-03-11 | M | A | 168,539 | — | 377,448 | D | — | — | (F1) Shares of Common Stock were acquired upon the exchange of a prior grant of Performance-based Restricted Participation Units ("PRPUs") into shares of Common Stock. (F2) Amount excludes 84,336 shares of Common Stock indirectly beneficially owned by the reporting person by trust and 198,946 restricted participation units directly or indirectly beneficially owned by the reporting person. |
| 4 | Derivative | Performance-based Restricted Participation Units | 2024-03-11 | M | D | 168,539 | — | 0 | D | — · — to — | 168,539 Common Stock | (F6) Represents a prior grant of PRPUs awarded with respect to compensation for 2020 for which performance and other conditions have been satisfied. The grant at target was previously reflected in the Company's proxy statement for the relevant year. (F7) 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. (F1) Shares of Common Stock were acquired upon the exchange of a prior grant of Performance-based Restricted Participation Units ("PRPUs") into shares of Common Stock. |