Form 4: Lazard CEO Peter Orszag Executes Stock Transactions
SEC Form 4 Filing
Lazard CEO Peter Orszag reports the exchange of Restricted Participation Units (PRUs) for common stock and subsequent sale of shares to cover taxes.
Summary
- On March 11, 2024, Peter Orszag, CEO of Lazard, Inc., exchanged 77,781 Restricted Participation Units (PRUs) for 77,781 shares of Lazard's common stock.
- Following the exchange, Orszag sold 50,000 shares of common stock at a price of $39.20 per share to cover estimated taxes arising from the PRU exchange.
- After these transactions, Orszag directly owns 101,522 shares of Lazard's common stock, excluding 143,813 restricted stock units.
- Orszag also directly owns 138,340 Restricted Participation Rights.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal compensation and tax-related activities of the CEO.
Key Dates
| Date | Description |
|---|---|
| 03/11/2024 | Date of PRU exchange for common stock and sale of shares for tax purposes. |
| 03/13/2024 | Date of signature for the Form 4 filing. |
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