Form 4: Lazard CEO Peter Orszag Acquires Additional Restricted Stock Units

Lazard's Chief Executive Officer, Peter Orszag, acquired 568 restricted stock units (RSUs) through dividend equivalent reinvestment.

Summary

• Peter Orszag, the Chief Executive Officer of Lazard, Inc., acquired 568 restricted stock units (RSUs) on November 15, 2024.
• These RSUs were acquired through the dividend equivalent reinvestment provisions of underlying RSU awards.
• Each RSU represents a contingent right to receive one share of Lazard's common stock.
• The acquired RSUs are scheduled to vest on or around September 3, 2025.
• Following this transaction, Mr. Orszag directly owns 63,029 RSUs, excluding 118,655 shares of common stock he already owns directly or indirectly.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally viewed neutrally to positively. The acquisition of RSUs through dividend reinvestment is a positive sign of alignment with shareholders.

Positives

• The acquisition of RSUs through dividend reinvestment indicates a continued alignment of the CEO's interests with those of the shareholders.
• The vesting of the RSUs in September 2025 provides a long-term incentive for the CEO.

Industry Context

This is a routine filing related to executive compensation and is common practice for publicly traded companies.

Comparison to Industry Standards

• The use of restricted stock units as part of executive compensation is a standard practice across the financial services industry.
• Many comparable companies such as Goldman Sachs, Morgan Stanley, and JP Morgan Chase also use RSUs as part of their executive compensation packages.
• The vesting period of approximately 10 months is within the typical range for such awards.

Stakeholder Impact

• The acquisition of RSUs by the CEO is a positive signal to shareholders, indicating alignment of interests.
• The vesting of the RSUs provides a long-term incentive for the CEO, which can benefit the company's performance.

Key Dates

Keywords

Lazard, Peter Orszag, Restricted Stock Units, RSU, Dividend Reinvestment, Executive Compensation, Beneficial Ownership, SEC Form 4