Form 4: Lazard Director Andrew M. Alper Acquires Deferred Stock Units

Director Andrew M. Alper acquired 646 deferred stock units of Lazard, Inc. as part of his compensation.

Summary

• Andrew M. Alper, a director at Lazard, Inc., acquired 646 deferred stock units (DSUs) on November 15, 2024.
• These DSUs were received in lieu of a portion of his cash compensation under the company's 2018 Incentive Compensation Plan.
• The DSUs will convert to common stock on a one-for-one basis when Mr. Alper leaves the board of directors.
• Following this transaction, Mr. Alper directly owns 91,266 deferred stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns interests. There is no indication of any negative or unexpected events.

Positives

• The acquisition of deferred stock units aligns the director's interests with the long-term performance of the company.
• The use of DSUs as compensation can help conserve cash for the company.

Future Outlook

The deferred stock units will convert to common stock when the director leaves the board.

Industry Context

The use of deferred stock units is a common practice in executive compensation to align the interests of directors with the long-term performance of the company.

Comparison to Industry Standards

• Many financial services firms use deferred stock units as part of their compensation packages for directors and executives.
• This practice is in line with industry standards for incentivizing long-term value creation.
• Companies like Goldman Sachs and Morgan Stanley also use similar compensation structures.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with long-term value creation.

Key Dates

Keywords

Deferred Stock Units, Director Compensation, Lazard, Stock Ownership, Incentive Compensation, Form 4