Form 4: Lazard COO Alexandra Soto Reports Stock Transactions Following Vesting of Performance-Based Restricted Stock Units

Alexandra Soto, Chief Operating Officer of Lazard, Inc., reports the acquisition and disposal of common stock related to the vesting of performance-based restricted stock units (PRSUs) and restricted stock units (RSUs).

Summary

• On March 13, 2025, Alexandra Soto, the Chief Operating Officer of Lazard, Inc., acquired 110,638 shares of common stock upon the vesting of Performance-based Restricted Stock Units (PRSUs).
• Concurrently, 52,000 shares were withheld by the company to cover taxes arising from the vesting of these PRSUs at a price of $45.84 per share.
• Following these transactions, Ms. Soto directly owns 199,766 shares of Lazard common stock.
• On March 14, 2025, Ms. Soto was also granted 99,660 Restricted Stock Units (RSUs) which will vest on or around March 1, 2028, representing a contingent right to receive one share of Common Stock for each unit.
• After this transaction, Ms. Soto directly owns 254,189 RSUs.

Sentiment

Score: 6

Explanation: The document is neutral in tone, reporting routine stock transactions. The vesting of PRSUs suggests positive performance, but the overall impact is likely minimal.

Positives

• The vesting of PRSUs indicates that performance conditions have been met, which could be viewed positively.

Future Outlook

The RSUs granted will vest on or around March 1, 2028, contingent on continued employment and other factors.

Industry Context

Executive compensation in the financial services industry often includes stock-based awards like PRSUs and RSUs to align management's interests with those of shareholders. Form 4 filings are a routine part of this process, providing transparency into executive stock ownership.

Comparison to Industry Standards

• Stock-based compensation is a common practice among Lazard's peers in the financial advisory and asset management industry, such as Goldman Sachs, Morgan Stanley, and BlackRock.
• These companies also utilize restricted stock units and performance-based awards to incentivize and retain key executives.
• The vesting schedules and performance metrics associated with these awards vary, but the underlying principle of aligning executive compensation with shareholder value remains consistent.

Stakeholder Impact

• The transactions reported have a minor impact on shareholders, reflecting changes in executive ownership.
• Employees may be interested in the details of executive compensation.

Key Dates