Form 4: Lazard Director Andrew Alper Awarded 4,056 Deferred Stock Units as Part of Compensation Plan

Lazard, Inc. Director Andrew M. Alper was awarded 4,056 Deferred Stock Units (DSUs) on June 2, 2025, as part of the company's non-executive director compensation arrangement.

Summary

• Andrew M. Alper, a Director of Lazard, Inc. (LAZ), was awarded 4,056 Deferred Stock Units (DSUs).
• The transaction date for this award is June 2, 2025.
• These DSUs were granted under Lazard, Inc.'s 2018 Incentive Compensation Plan, as amended, specifically as part of the Non-Executive Director Compensation arrangement.
• The DSUs will convert into Lazard Common Stock on a one-for-one basis after Mr. Alper resigns from or ceases to be a member of the Board of Directors.
• Following this transaction, Mr. Alper beneficially owns 96,749 Deferred Stock Units.

Sentiment

Score: 6

Explanation: The award of equity compensation to a director is a routine event that aligns interests, indicating stability in governance and compensation practices. It's slightly positive as it shows continued commitment and a structured compensation plan.

Positives

• The award of Deferred Stock Units aligns the interests of the director with those of shareholders, as the value of the compensation is tied to the company's stock performance.
• This transaction reflects a standard compensation practice for non-executive directors, indicating a structured and transparent governance framework.

Risks

• The value of the Deferred Stock Units is subject to the future performance of Lazard, Inc.'s common stock, meaning the ultimate value realized by the director could be lower if the stock price declines.

Future Outlook

The Deferred Stock Units are structured to convert into common stock upon the reporting person's departure from the Board, aligning future compensation realization with continued service.

Industry Context

This Form 4 filing details an equity award to a non-executive director, a common practice in the financial services industry, including investment banking and asset management firms like Lazard. Such awards are designed to attract and retain qualified board members by linking their long-term incentives to the company's performance and shareholder value.

Corporate Governance

Stakeholder Impact

• Shareholders: The award of DSUs aligns the director's financial interests with shareholder value, potentially encouraging decisions that benefit long-term stock performance.

Next Steps

• The Deferred Stock Units will convert into Lazard Common Stock on a one-for-one basis following Andrew M. Alper's resignation from or cessation of membership on the Board of Directors.

Key Dates

Keywords

Lazard Inc., LAZ, Andrew M. Alper, Deferred Stock Units, DSU, Director Compensation, SEC Form 4, Insider Transaction, Equity Award, Compensation Plan