Form 4: Lazard CEO Peter Orszag Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
Lazard CEO Peter Orszag reports the acquisition of additional Restricted Stock Units (RSUs) through dividend equivalent reinvestment.
Summary
- Peter Orszag, CEO of Lazard, Inc., reported the acquisition of 1,763 Restricted Stock Units (RSUs) on May 17, 2024.
- These RSUs were acquired pursuant to the dividend equivalent reinvestment provisions of underlying RSU awards.
- Each RSU represents a contingent right to receive one share of Lazard's Common Stock.
- 1,014 of these RSUs will vest on or around September 3, 2024, and 749 will vest on or around September 3, 2025.
- Following the reported transaction, Orszag beneficially owns 145,576 RSUs, excluding 101,522 shares of Common Stock directly or indirectly beneficially owned.
Sentiment
Score: 6
Explanation: Neutral sentiment as it reflects a routine transaction related to executive compensation.
Positives
- The acquisition of RSUs through dividend reinvestment indicates a continued investment in the company by the CEO.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the holdings of company insiders.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it is related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 05/17/2024 | Date of RSU acquisition |
| 05/21/2024 | Date of Form 4 signature |
| 09/03/2024 | Vesting date for 1,014 RSUs |
| 09/03/2025 | Vesting date for 749 RSUs |
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